Philip Morris International Inc. (NYSE:PM) Shares Sold by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. reduced its holdings in Philip Morris International by 13.8%, selling 11,498 shares during the first quarter, leaving it with 71,767 shares valued at $11.44 million.
• Analysts are optimistic about Philip Morris International, with several firms issuing buy ratings and target prices ranging from $182 to $220 per share.
• The company declared a quarterly dividend of $1.35, which corresponds to an annualized yield of 3.3%, although its dividend payout ratio stands at 102.66%.

Atria Wealth Solutions Inc. cut its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 13.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,767 shares of the company's stock after selling 11,498 shares during the period. Atria Wealth Solutions Inc.'s holdings in Philip Morris International were worth $11,437,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Pacifica Partners Inc. increased its stake in shares of Philip Morris International by 115.0% during the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock worth $35,000 after purchasing an additional 115 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new stake in Philip Morris International during the 1st quarter valued at $35,000. Ball & Co Wealth Management Inc. purchased a new position in Philip Morris International during the fourth quarter worth $36,000. Ameriflex Group Inc. purchased a new position in Philip Morris International during the fourth quarter worth $36,000. Finally, Inlight Wealth Management LLC acquired a new position in shares of Philip Morris International in the first quarter worth $38,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PM shares. Needham & Company LLC reaffirmed a "buy" rating and set a $195.00 price objective on shares of Philip Morris International in a research note on Wednesday, July 23rd. Jefferies Financial Group initiated coverage on shares of Philip Morris International in a report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 target price on the stock. Wall Street Zen upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a report on Sunday, July 20th. Morgan Stanley reissued an "overweight" rating and set a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Finally, Citigroup reaffirmed an "overweight" rating on shares of Philip Morris International in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Philip Morris International has an average rating of "Moderate Buy" and an average target price of $186.27.

Philip Morris International Stock Up 0.6%

PM stock opened at $163.92 on Wednesday. The company has a market cap of $255.15 billion, a price-to-earnings ratio of 31.16, a PEG ratio of 2.37 and a beta of 0.48. The business has a fifty day simple moving average of $176.93 and a 200-day simple moving average of $162.49. Philip Morris International Inc. has a 52 week low of $113.20 and a 52 week high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.86 by $0.05. The company had revenue of $10.14 billion during the quarter, compared to analyst estimates of $10.33 billion. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. The firm's revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.59 earnings per share. As a group, analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were issued a $1.35 dividend. The ex-dividend date was Friday, June 27th. This represents a $5.40 annualized dividend and a yield of 3.3%. Philip Morris International's dividend payout ratio (DPR) is presently 102.66%.

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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