Philip Morris International Inc. (NYSE:PM) Stake Lessened by Pettyjohn Wood & White Inc.

Key Points

• Pettyjohn Wood & White Inc. reduced its stake in Philip Morris International by 52.5% during the first quarter and now owns 9,382 shares valued at approximately $1.49 million.
• Several other institutional investors increased their holdings in Philip Morris, with Brighton Jones LLC enhancing its stake by 31.1% in the fourth quarter.
• Wall Street analysts have shown optimism, with the majority rating the stock as a "buy" and setting target prices between $186 and $200, contributing to a consensus rating of "Moderate Buy."

Pettyjohn Wood & White Inc. lessened its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 52.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,382 shares of the company's stock after selling 10,363 shares during the period. Pettyjohn Wood & White Inc.'s holdings in Philip Morris International were worth $1,489,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PM. Brighton Jones LLC increased its stake in shares of Philip Morris International by 31.1% in the fourth 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 increased its stake in shares of Philip Morris International by 4.5% in the fourth 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. American Century Companies Inc. increased its stake in shares of Philip Morris International by 37.4% in the fourth quarter. American Century Companies Inc. now owns 14,425 shares of the company's stock worth $1,736,000 after buying an additional 3,929 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Philip Morris International by 21.0% in the fourth quarter. Clearbridge Investments LLC now owns 43,316 shares of the company's stock worth $5,213,000 after buying an additional 7,529 shares during the last quarter. Finally, Nicolet Advisory Services LLC increased its stake in shares of Philip Morris International by 1.8% in the fourth quarter. Nicolet Advisory Services LLC now owns 13,530 shares of the company's stock worth $1,585,000 after buying an additional 233 shares during the last quarter. Institutional investors own 78.63% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PM shares. Wall Street Zen upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Sunday, July 20th. Stifel Nicolaus boosted their target price on shares of Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. boosted their target price on shares of Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Needham & Company LLC reiterated a "buy" rating and set a $195.00 target price on shares of Philip Morris International in a research note on Wednesday, July 23rd. Finally, Bank of America boosted their target price on shares of Philip Morris International from $182.00 to $200.00 and gave the company 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 given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $186.27.

Philip Morris International Stock Performance

Philip Morris International stock opened at $164.04 on Friday. The company has a 50-day simple moving average of $177.85 and a 200-day simple moving average of $161.30. The firm has a market capitalization of $255.35 billion, a P/E ratio of 31.19, a P/E/G ratio of 2.36 and a beta of 0.51. Philip Morris International Inc. has a one year low of $113.15 and a one year high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.86 by $0.05. The business had revenue of $10.14 billion during the quarter, compared to analyst estimates of $10.33 billion. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The company's quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.59 earnings per share. As a group, sell-side analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were issued a $1.35 dividend. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 annualized dividend and a yield of 3.3%. Philip Morris International's dividend payout ratio is presently 102.66%.

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.

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