Philip Morris International Inc. (NYSE:PM) Shares Sold by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc cut its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 2.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 138,872 shares of the company's stock after selling 3,749 shares during the period. Pinnacle Financial Partners Inc's holdings in Philip Morris International were worth $21,486,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PM. Brighton Jones LLC grew its holdings 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 acquiring an additional 2,023 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings 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 acquiring an additional 91 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Philip Morris International by 34.9% during the 4th quarter. Fisher Asset Management LLC now owns 14,802 shares of the company's stock worth $1,781,000 after acquiring an additional 3,829 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in Philip Morris International during the 4th quarter worth approximately $50,000. Finally, SRS Capital Advisors Inc. lifted its holdings in Philip Morris International by 82.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,960 shares of the company's stock worth $356,000 after buying an additional 1,337 shares during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Price Performance

Shares of PM traded up $3.09 during midday trading on Friday, reaching $179.00. 2,734,143 shares of the stock were exchanged, compared to its average volume of 5,634,419. The business's 50-day moving average price is $176.97 and its 200 day moving average price is $154.23. Philip Morris International Inc. has a twelve month low of $100.80 and a twelve month high of $186.69. The company has a market capitalization of $278.62 billion, a price-to-earnings ratio of 36.91, a PEG ratio of 2.55 and a beta of 0.51.

Philip Morris International (NYSE:PM - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.08. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The business had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $9.10 billion. During the same quarter in the previous year, the firm earned $1.50 earnings per share. The business's revenue was up 5.8% compared to the same quarter last year. As a group, equities research analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Friday, June 27th. Philip Morris International's dividend payout ratio (DPR) is currently 111.34%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PM. Barclays reaffirmed an "overweight" rating and set a $220.00 price target (up from $205.00) on shares of Philip Morris International in a report on Friday, June 13th. Morgan Stanley reaffirmed an "overweight" rating and set a $182.00 price target (up from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Needham & Company LLC began coverage on Philip Morris International in a report on Thursday, May 22nd. They set a "buy" rating for the company. UBS Group raised Philip Morris International from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $130.00 to $170.00 in a report on Friday, April 25th. Finally, Argus raised Philip Morris International from a "hold" rating to a "buy" rating in a report on Friday, March 14th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus 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.