Philip Morris International Inc. (NYSE:PM) Shares Sold by Investment Management Associates Inc. ADV

Investment Management Associates Inc. ADV lowered its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 3.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 124,467 shares of the company's stock after selling 4,850 shares during the quarter. Philip Morris International comprises approximately 8.1% of Investment Management Associates Inc. ADV's portfolio, making the stock its 5th biggest position. Investment Management Associates Inc. ADV's holdings in Philip Morris International were worth $19,757,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. GQG Partners LLC lifted its holdings in shares of Philip Morris International by 14.3% during the 4th quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock valued at $5,866,678,000 after buying an additional 6,092,558 shares during the period. GAMMA Investing LLC grew its position in Philip Morris International by 19,986.5% during the first quarter. GAMMA Investing LLC now owns 4,486,928 shares of the company's stock valued at $712,210,000 after buying an additional 4,464,590 shares during the period. Kovitz Investment Group Partners LLC increased its holdings in Philip Morris International by 372.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,453,285 shares of the company's stock valued at $656,303,000 after buying an additional 4,298,530 shares during the last quarter. Capital World Investors raised its position in Philip Morris International by 3.6% in the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company's stock worth $14,752,926,000 after acquiring an additional 4,216,586 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Philip Morris International by 9.9% during the 4th quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company's stock worth $4,241,837,000 after acquiring an additional 3,185,258 shares during the last quarter. Institutional investors own 78.63% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PM shares. Bank of America lifted their price objective 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. Needham & Company LLC began coverage on Philip Morris International in a research report on Thursday, May 22nd. They issued a "buy" rating on the stock. Jefferies Financial Group began coverage on Philip Morris International in a report on Wednesday, July 9th. They set a "buy" rating and a $220.00 price objective on the stock. Barclays upped their price target on shares of Philip Morris International from $220.00 to $225.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Wall Street Zen cut shares of Philip Morris International from a "buy" rating to a "hold" rating in a research note on Saturday. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $186.73.

Philip Morris International Price Performance

Shares of NYSE:PM traded up $0.91 during trading on Monday, reaching $180.82. 5,598,516 shares of the company were exchanged, compared to its average volume of 5,987,413. The business's fifty day simple moving average is $178.05 and its 200-day simple moving average is $157.00. Philip Morris International Inc. has a 12-month low of $104.84 and a 12-month high of $186.69. The firm has a market capitalization of $281.45 billion, a PE ratio of 37.28, a P/E/G ratio of 2.60 and a beta of 0.51.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.10 billion. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The company's quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $1.50 earnings per share. On average, sell-side analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.99%. Philip Morris International's dividend payout ratio is currently 111.34%.

Philip Morris International 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.