Philip Morris International Inc. (NYSE:PM) Shares Sold by First Foundation Advisors

Key Points

• First Foundation Advisors reduced its stake in Philip Morris International by 8.7% in the first quarter, owning 127,509 shares worth approximately $20.2 million after selling 12,147 shares.
• Several analysts have upgraded their rating on Philip Morris International, with Morgan Stanley setting a new price target of $182.00 and Bank of America increasing theirs to $200.00.
• The company recently announced a quarterly dividend of $1.35 per share, with an annualized dividend yield of 3.43%, although its payout ratio stands at 102.66%.

First Foundation Advisors cut its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 8.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,509 shares of the company's stock after selling 12,147 shares during the period. Philip Morris International accounts for 0.8% of First Foundation Advisors' investment portfolio, making the stock its 27th largest holding. First Foundation Advisors' holdings in Philip Morris International were worth $20,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of PM. Brighton Jones LLC raised its position 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 last quarter. Revolve Wealth Partners LLC increased its stake in Philip Morris International by 4.5% in 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 period. American Century Companies Inc. increased its stake in shares of Philip Morris International by 37.4% during the fourth quarter. American Century Companies Inc. now owns 14,425 shares of the company's stock valued at $1,736,000 after buying an additional 3,929 shares during the period. New Age Alpha Advisors LLC boosted its holdings in Philip Morris International by 5,605.1% in the fourth quarter. New Age Alpha Advisors LLC now owns 8,957 shares of the company's stock worth $1,078,000 after acquiring an additional 8,800 shares in the last quarter. Finally, RWA Wealth Partners LLC increased its position in Philip Morris International by 2.7% during the fourth quarter. RWA Wealth Partners LLC now owns 11,172 shares of the company's stock valued at $1,345,000 after acquiring an additional 291 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PM has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $195.00 price objective on shares of Philip Morris International in a research note on Wednesday, July 23rd. Citigroup reissued an "overweight" rating on shares of Philip Morris International in a report on Tuesday, July 22nd. Barclays reiterated an "overweight" rating on shares of Philip Morris International in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. upped their price objective on Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Finally, Bank of America upped their price target on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $186.73.

Philip Morris International Stock Performance

NYSE:PM traded up $4.93 during mid-day trading on Tuesday, reaching $162.70. The stock had a trading volume of 9,427,927 shares, compared to its average volume of 5,849,509. The business has a 50 day simple moving average of $178.32 and a 200 day simple moving average of $160.97. Philip Morris International Inc. has a twelve month low of $113.15 and a twelve month high of $186.69. The firm has a market capitalization of $253.26 billion, a price-to-earnings ratio of 30.93, a PEG ratio of 2.30 and a beta of 0.51.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.05. Philip Morris International had a negative return on equity of 120.86% and a net margin of 10.57%. The firm had revenue of $10.14 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the previous year, the firm posted $1.59 EPS. The company's quarterly revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were paid a dividend of $1.35 per share. The ex-dividend date was Friday, June 27th. This represents a $5.40 annualized dividend and a dividend yield of 3.32%. Philip Morris International's dividend payout ratio is presently 102.66%.

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.