Philip Morris International Inc. (NYSE:PM) Shares Sold by Parr Mcknight Wealth Management Group LLC

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 its most recent filing with the Securities & 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 SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC boosted its holdings in shares of Philip Morris International by 31.1% during the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock worth $1,027,000 after purchasing an additional 2,023 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Philip Morris International by 4.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company's stock worth $252,000 after purchasing an additional 91 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Philip Morris International by 60.4% during the 4th quarter. Proficio Capital Partners LLC now owns 3,863 shares of the company's stock worth $465,000 after purchasing an additional 1,455 shares during the last quarter. Amundi boosted its holdings in shares of Philip Morris International by 1.3% during the 4th quarter. Amundi now owns 613,683 shares of the company's stock worth $74,783,000 after purchasing an additional 7,893 shares during the last quarter. Finally, Davis R M Inc. boosted its holdings in shares of Philip Morris International by 19.4% during the 4th quarter. Davis R M Inc. now owns 6,575 shares of the company's stock worth $791,000 after purchasing an additional 1,068 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Stock Performance

Shares of Philip Morris International stock traded down $1.78 during trading hours on Friday, reaching $179.21. 1,685,751 shares of the company were exchanged, compared to its average volume of 5,621,621. Philip Morris International Inc. has a 1 year low of $102.75 and a 1 year high of $186.69. The stock's fifty day moving average is $177.87 and its 200 day moving average is $156.13. The firm has a market cap of $278.94 billion, a PE ratio of 36.93, 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 earnings per share 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 business had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same quarter in the prior year, the company earned $1.50 earnings per share. The company's revenue was up 5.8% on a year-over-year basis. Research analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be paid a dividend of $1.35 per share. The ex-dividend date is Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.01%. Philip Morris International's payout ratio is currently 111.34%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PM shares. Argus raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. Wall Street Zen raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Jefferies Financial Group started coverage on shares of Philip Morris International in a research report on Wednesday. They set a "buy" rating and a $220.00 price target on the stock. Bank of America lifted their price target on shares of Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, Stifel Nicolaus lifted their price target on shares of Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $185.73.

About Philip Morris International

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.