Philip Morris International Inc. (NYSE:PM) Shares Sold by Cantor Fitzgerald Investment Advisors L.P.

Cantor Fitzgerald Investment Advisors L.P. lowered its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 38.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 97,702 shares of the company's stock after selling 61,793 shares during the quarter. Cantor Fitzgerald Investment Advisors L.P.'s holdings in Philip Morris International were worth $15,508,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in Philip Morris International by 31.1% in the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock valued at $1,027,000 after buying an additional 2,023 shares during the period. Symmetry Investments LP purchased a new stake in Philip Morris International in the 4th quarter valued at about $1,966,000. Worth Asset Management LLC purchased a new stake in Philip Morris International in the 1st quarter valued at about $2,223,000. Wealth Enhancement Advisory Services LLC grew its holdings in Philip Morris International by 24.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock valued at $69,695,000 after buying an additional 87,631 shares during the period. Finally, Annex Advisory Services LLC grew its holdings in Philip Morris International by 46.6% in the 1st quarter. Annex Advisory Services LLC now owns 34,715 shares of the company's stock valued at $5,510,000 after buying an additional 11,034 shares during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PM has been the subject of several recent analyst reports. Needham & Company LLC started coverage on Philip Morris International in a report on Thursday, May 22nd. They issued a "buy" rating for the company. Bank of America boosted their target price on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Barclays reiterated an "overweight" rating and set a $220.00 target price (up previously from $205.00) on shares of Philip Morris International in a report on Friday, June 13th. Citigroup boosted their target price on Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, April 16th. Finally, Argus upgraded Philip Morris International from a "hold" rating to a "buy" rating in a report on Friday, March 14th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Philip Morris International has a consensus rating of "Moderate Buy" and a consensus price target of $176.80.

Philip Morris International Stock Down 0.0%

Shares of PM traded down $0.04 during trading on Friday, reaching $182.57. The company's stock had a trading volume of 10,713,275 shares, compared to its average volume of 5,649,314. The company has a fifty day moving average of $173.82 and a two-hundred day moving average of $150.99. Philip Morris International Inc. has a twelve month low of $98.93 and a twelve month high of $186.69. The company has a market cap of $284.18 billion, a price-to-earnings ratio of 37.64, a P/E/G ratio of 2.65 and a beta of 0.52.

Philip Morris International (NYSE:PM - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, beating 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 prior year, the company posted $1.50 EPS. Philip Morris International's quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International's payout ratio is 111.34%.

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.