Robertson Stephens Wealth Management LLC Has $643,000 Stake in Philip Morris International Inc. (NYSE:PM)

Robertson Stephens Wealth Management LLC trimmed its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 49.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,021 shares of the company's stock after selling 3,917 shares during the quarter. Robertson Stephens Wealth Management LLC's holdings in Philip Morris International were worth $643,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Brighton Jones LLC raised its stake in Philip Morris International by 31.1% during the fourth 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. Symmetry Investments LP acquired a new position in Philip Morris International during the fourth quarter worth $1,966,000. Worth Asset Management LLC acquired a new position in Philip Morris International during the first quarter worth $2,223,000. Annex Advisory Services LLC raised its stake in Philip Morris International by 46.6% during the first quarter. Annex Advisory Services LLC now owns 34,715 shares of the company's stock worth $5,510,000 after acquiring an additional 11,034 shares in the last quarter. Finally, Farmers Trust Co. raised its stake in Philip Morris International by 21.1% during the first quarter. Farmers Trust Co. now owns 52,574 shares of the company's stock worth $8,345,000 after acquiring an additional 9,162 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PM has been the subject of several recent analyst reports. Stifel Nicolaus increased their price objective on Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. UBS Group upgraded Philip Morris International from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $130.00 to $170.00 in a research note on Friday, April 25th. Citigroup raised their target price on Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, April 16th. Wall Street Zen cut Philip Morris International from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, Bank of America lifted their price target on Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Philip Morris International presently has an average rating of "Moderate Buy" and an average target price of $176.80.

Philip Morris International Trading Down 0.6%

Shares of NYSE:PM opened at $182.44 on Thursday. The stock has a market capitalization of $283.97 billion, a P/E ratio of 37.62, a P/E/G ratio of 2.66 and a beta of 0.52. Philip Morris International Inc. has a 1-year low of $98.93 and a 1-year high of $186.69. The business has a 50-day moving average price of $172.62 and a two-hundred day moving average price of $150.28.

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. The firm had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $9.10 billion. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The company's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.50 EPS. As a group, equities analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $5.40 annualized dividend and a yield of 2.96%. Philip Morris International's dividend payout ratio is currently 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.

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