Philip Morris International Inc. (NYSE:PM) Shares Sold by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC reduced its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 95.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,289 shares of the company's stock after selling 28,932 shares during the quarter. Strategic Financial Concepts LLC's holdings in Philip Morris International were worth $205,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Brighton Jones LLC raised its position in Philip Morris International by 31.1% during the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock worth $1,027,000 after buying an additional 2,023 shares during the last quarter. Revolve Wealth Partners LLC raised its position in Philip Morris International by 4.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company's stock worth $252,000 after buying an additional 91 shares during the last quarter. Proficio Capital Partners LLC raised its position in Philip Morris International by 60.4% during the 4th quarter. Proficio Capital Partners LLC now owns 3,863 shares of the company's stock worth $465,000 after buying an additional 1,455 shares during the last quarter. E Fund Management Co. Ltd. raised its position in Philip Morris International by 62.1% during the 4th quarter. E Fund Management Co. Ltd. now owns 16,882 shares of the company's stock worth $2,032,000 after buying an additional 6,467 shares during the last quarter. Finally, Welch & Forbes LLC raised its position in Philip Morris International by 5.7% during the 4th quarter. Welch & Forbes LLC now owns 21,861 shares of the company's stock worth $2,631,000 after buying an additional 1,174 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Trading Up 1.3%

NYSE:PM traded up $2.24 during trading hours on Monday, reaching $181.12. 4,652,143 shares of the company were exchanged, compared to its average volume of 5,638,756. The stock's 50-day moving average is $177.38 and its 200-day moving average is $155.43. The firm has a market cap of $281.92 billion, a PE ratio of 37.34, a price-to-earnings-growth ratio of 2.59 and a beta of 0.51. Philip Morris International Inc. has a twelve month low of $101.62 and a twelve month high of $186.69.

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, topping analysts' consensus estimates of $1.61 by $0.08. The company had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $9.10 billion. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.50 earnings per share. As a group, research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current 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 paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $5.40 annualized dividend and a yield of 2.98%. Philip Morris International's dividend payout ratio (DPR) is presently 111.34%.

Analyst Ratings Changes

A number of equities analysts have issued reports on PM shares. UBS Group raised shares of Philip Morris International from a "sell" rating to a "neutral" rating and raised their price target for the stock from $130.00 to $170.00 in a research report on Friday, April 25th. Bank of America raised their price objective on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Morgan Stanley reaffirmed 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. Needham & Company LLC assumed coverage on shares of Philip Morris International in a research note on Thursday, May 22nd. They set a "buy" rating on the stock. Finally, Wall Street Zen raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $176.80.

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.