First Fiduciary Investment Counsel Inc. Sells 3,825 Shares of Philip Morris International Inc. (NYSE:PM)

First Fiduciary Investment Counsel Inc. trimmed its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 4.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,841 shares of the company's stock after selling 3,825 shares during the quarter. Philip Morris International makes up about 2.5% of First Fiduciary Investment Counsel Inc.'s portfolio, making the stock its 15th largest holding. First Fiduciary Investment Counsel Inc.'s holdings in Philip Morris International were worth $11,880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Nicholson Meyer Capital Management Inc. bought a new stake in shares of Philip Morris International in the 1st quarter valued at $401,000. MorganRosel Wealth Management LLC acquired a new position in Philip Morris International during the 1st quarter valued at about $56,000. Jacobsen Capital Management grew its holdings in Philip Morris International by 7.5% during the first quarter. Jacobsen Capital Management now owns 2,316 shares of the company's stock worth $368,000 after buying an additional 161 shares in the last quarter. Northwest Wealth Management LLC lifted its position in shares of Philip Morris International by 21.6% during the first quarter. Northwest Wealth Management LLC now owns 2,407 shares of the company's stock valued at $382,000 after purchasing an additional 428 shares in the last quarter. Finally, Eads & Heald Wealth Management bought a new position in shares of Philip Morris International in the first quarter valued at approximately $201,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PM. UBS Group upgraded Philip Morris International from a "sell" rating to a "neutral" rating and boosted their target price for the company from $130.00 to $170.00 in a research note on Friday, April 25th. Barclays reissued 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 raised their price target on Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, April 16th. Wall Street Zen upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Finally, Needham & Company LLC assumed coverage on Philip Morris International in a report on Thursday, May 22nd. They set a "buy" rating on the stock. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $176.80.

Philip Morris International Stock Performance

PM traded up $3.09 on Thursday, reaching $179.00. The company had a trading volume of 2,734,143 shares, compared to its average volume of 5,618,536. Philip Morris International Inc. has a 52-week low of $100.80 and a 52-week high of $186.69. The company has a market cap of $278.61 billion, a price-to-earnings ratio of 36.91, a P/E/G ratio of 2.57 and a beta of 0.51. The business has a 50 day simple moving average of $176.79 and a 200 day simple moving average of $153.86.

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, beating the consensus estimate of $1.61 by $0.08. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The firm had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $9.10 billion. During the same quarter last year, the company posted $1.50 EPS. The business's quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities research analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be given a dividend of $1.35 per share. The ex-dividend date is Friday, June 27th. This represents a $5.40 annualized dividend and a dividend yield of 3.02%. Philip Morris International's dividend payout ratio (DPR) is presently 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.