Philip Morris International Inc. (NYSE:PM) Shares Sold by Trust Point Inc.

Trust Point Inc. cut its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 17.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,560 shares of the company's stock after selling 1,967 shares during the quarter. Trust Point Inc.'s holdings in Philip Morris International were worth $1,517,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PM. Vanguard Group Inc. raised its stake in Philip Morris International by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 139,432,392 shares of the company's stock worth $16,780,688,000 after purchasing an additional 1,167,810 shares during the period. Capital World Investors raised its stake in Philip Morris International by 3.6% during the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company's stock worth $14,752,926,000 after purchasing an additional 4,216,586 shares during the period. GQG Partners LLC raised its stake in Philip Morris International by 14.3% during the fourth quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock worth $5,866,678,000 after purchasing an additional 6,092,558 shares during the period. Geode Capital Management LLC raised its stake in Philip Morris International by 9.9% during the fourth quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company's stock worth $4,241,837,000 after purchasing an additional 3,185,258 shares during the period. Finally, Wellington Management Group LLP raised its stake in Philip Morris International by 3.1% during the fourth quarter. Wellington Management Group LLP now owns 17,276,790 shares of the company's stock worth $2,079,262,000 after purchasing an additional 516,617 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Stock Performance

Shares of PM stock opened at $184.01 on Monday. The stock has a market capitalization of $286.41 billion, a P/E ratio of 40.80, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. The company has a 50 day moving average price of $170.67 and a 200 day moving average price of $149.47. Philip Morris International Inc. has a fifty-two week low of $98.93 and a fifty-two week high of $185.55.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.61 by $0.08. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The company had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $9.10 billion. During the same quarter in the previous year, the business posted $1.50 EPS. The firm's revenue was up 5.8% on a year-over-year basis. On average, research analysts forecast 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 issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.93%. Philip Morris International's payout ratio is 111.34%.

Analysts Set New Price Targets

A number of brokerages have commented on PM. UBS Group raised shares of Philip Morris International from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $130.00 to $170.00 in a research note on Friday, April 25th. 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. JPMorgan Chase & Co. boosted their price target on shares of Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Wall Street Zen downgraded shares of Philip Morris International from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $182.00 price target (up from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Philip Morris International has an average rating of "Moderate Buy" and an average price target of $176.80.

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.

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