Parr Mcknight Wealth Management Group LLC Has $2.51 Million Stock Position in Philip Morris International Inc. (NYSE:PM)

Parr Mcknight Wealth Management Group LLC cut its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 21.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,831 shares of the company's stock after selling 4,446 shares during the period. Parr Mcknight Wealth Management Group LLC's holdings in Philip Morris International were worth $2,513,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Perigon Wealth Management LLC boosted its holdings in shares of Philip Morris International by 0.4% in the 1st quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company's stock valued at $2,236,000 after buying an additional 60 shares during the last quarter. TBH Global Asset Management LLC increased its position in Philip Morris International by 0.9% during the 1st quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company's stock worth $1,100,000 after buying an additional 61 shares during the period. Capital Advisors Wealth Management LLC increased its position in Philip Morris International by 2.1% during the 1st quarter. Capital Advisors Wealth Management LLC now owns 3,005 shares of the company's stock worth $477,000 after buying an additional 63 shares during the period. Lloyd Advisory Services LLC. increased its position in Philip Morris International by 3.3% during the 1st quarter. Lloyd Advisory Services LLC. now owns 2,032 shares of the company's stock worth $323,000 after buying an additional 64 shares during the period. Finally, Western Wealth Management LLC increased its position in Philip Morris International by 1.5% during the 1st quarter. Western Wealth Management LLC now owns 4,446 shares of the company's stock worth $706,000 after buying an additional 64 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on PM shares. Morgan Stanley reiterated an "overweight" rating and set a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Stifel Nicolaus raised their price target on Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Needham & Company LLC initiated coverage on Philip Morris International in a research report on Thursday, May 22nd. They issued a "buy" rating on the stock. Wall Street Zen upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Finally, Barclays restated an "overweight" rating and issued a $220.00 price target (up previously from $205.00) on shares of Philip Morris International in a research report on Friday, June 13th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $180.73.

Philip Morris International Trading Up 0.0%

Shares of PM stock opened at $177.73 on Thursday. The business's 50-day moving average price is $177.65 and its 200-day moving average price is $155.73. Philip Morris International Inc. has a 12 month low of $101.68 and a 12 month high of $186.69. The firm has a market capitalization of $276.64 billion, a price-to-earnings ratio of 36.65, a PEG ratio of 2.58 and a beta of 0.51.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.08. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same period in the previous year, the firm earned $1.50 earnings per share. The firm's quarterly revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be paid a $1.35 dividend. The ex-dividend date is Friday, June 27th. This represents a $5.40 annualized dividend and a dividend yield of 3.04%. Philip Morris International's payout ratio is 111.34%.

Philip Morris International Company Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.

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