Primoris Wealth Advisors LLC Cuts Position in Philip Morris International Inc. (NYSE:PM)

Primoris Wealth Advisors LLC lowered its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 26.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,663 shares of the company's stock after selling 5,250 shares during the period. Philip Morris International comprises 1.8% of Primoris Wealth Advisors LLC's portfolio, making the stock its 20th largest holding. Primoris Wealth Advisors LLC's holdings in Philip Morris International were worth $2,327,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PM. Brighton Jones LLC increased its position 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 valued at $1,027,000 after buying an additional 2,023 shares in the last quarter. Revolve Wealth Partners LLC increased 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 valued at $252,000 after acquiring an additional 91 shares in the last quarter. Lake Street Advisors Group LLC raised its position in Philip Morris International by 9.3% during the fourth quarter. Lake Street Advisors Group LLC now owns 8,491 shares of the company's stock worth $1,033,000 after acquiring an additional 721 shares during the last quarter. Advisor OS LLC raised its position in Philip Morris International by 6.0% during the fourth quarter. Advisor OS LLC now owns 6,107 shares of the company's stock worth $735,000 after acquiring an additional 345 shares during the last quarter. Finally, NewEdge Wealth LLC lifted its holdings in shares of Philip Morris International by 0.9% in the fourth quarter. NewEdge Wealth LLC now owns 59,709 shares of the company's stock valued at $7,186,000 after purchasing an additional 559 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PM shares. Barclays restated an "overweight" rating and set a $220.00 price objective (up from $205.00) on shares of Philip Morris International in a research report on Friday, June 13th. Stifel Nicolaus boosted their price target on Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Citigroup upped their price objective on Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, April 16th. Morgan Stanley reiterated an "overweight" rating and set a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Finally, Needham & Company LLC began coverage on shares of Philip Morris International in a research note on Thursday, May 22nd. They issued a "buy" rating for the company. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $176.80.

Philip Morris International Trading Up 0.6%

Shares of NYSE:PM opened at $180.61 on Friday. The firm has a market cap of $281.13 billion, a price-to-earnings ratio of 37.24, a PEG ratio of 2.60 and a beta of 0.52. The stock's 50-day moving average price is $175.60 and its two-hundred day moving average price is $152.43. Philip Morris International Inc. has a 12-month low of $100.80 and a 12-month high of $186.69.

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

Philip Morris International Dividend Announcement

The business also recently disclosed 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 is Friday, June 27th. This represents a $5.40 annualized dividend and a dividend yield of 2.99%. Philip Morris International's dividend payout ratio is presently 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.

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