Philip Morris International Inc. (NYSE:PM) Shares Sold by Richard Bernstein Advisors LLC

Richard Bernstein Advisors LLC cut its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 5.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,495 shares of the company's stock after selling 1,414 shares during the period. Richard Bernstein Advisors LLC's holdings in Philip Morris International were worth $4,206,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Callan Capital LLC grew its stake in shares of Philip Morris International by 17.6% in the 1st quarter. Callan Capital LLC now owns 4,531 shares of the company's stock valued at $719,000 after buying an additional 677 shares during the period. TD Private Client Wealth LLC grew its position in Philip Morris International by 1.7% in the first quarter. TD Private Client Wealth LLC now owns 114,036 shares of the company's stock worth $18,101,000 after acquiring an additional 1,876 shares in the last quarter. Capital Advisors Inc. OK grew its position in Philip Morris International by 3.1% in the first quarter. Capital Advisors Inc. OK now owns 7,126 shares of the company's stock worth $1,131,000 after acquiring an additional 216 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Philip Morris International by 3.3% during the first quarter. Envestnet Asset Management Inc. now owns 5,719,832 shares of the company's stock valued at $907,909,000 after buying an additional 181,973 shares during the period. Finally, Hendley & Co. Inc. raised its stake in shares of Philip Morris International by 6.1% during the first quarter. Hendley & Co. Inc. now owns 13,825 shares of the company's stock valued at $2,194,000 after acquiring an additional 800 shares during the last quarter. Institutional investors own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PM shares. Morgan Stanley reaffirmed an "overweight" rating and set a $182.00 target price (up previously from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Wall Street Zen upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Bank of America lifted their price target on shares of Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. UBS Group raised shares of 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 research note on Friday, April 25th. Finally, Argus raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research 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 MarketBeat.com, Philip Morris International presently has a consensus rating of "Moderate Buy" and an average price target of $176.80.

Philip Morris International Stock Performance

NYSE PM traded down $3.05 during mid-day trading on Tuesday, reaching $178.15. 945,140 shares of the stock were exchanged, compared to its average volume of 5,620,524. The business's 50 day moving average is $177.38 and its 200-day moving average is $155.43. Philip Morris International Inc. has a 1 year low of $101.62 and a 1 year high of $186.69. The company has a market capitalization of $277.29 billion, a P/E ratio of 36.75, a P/E/G ratio of 2.59 and a beta of 0.51.

Philip Morris International (NYSE:PM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.08. The business 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 company's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.50 earnings per share. Equities analysts predict 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. Investors of record on Friday, June 27th will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.03%. The ex-dividend date is Friday, June 27th. Philip Morris International's payout ratio is 111.34%.

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.