Rockland Trust Co. Sells 3,646 Shares of Philip Morris International Inc. (NYSE:PM)

Rockland Trust Co. lowered its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 21.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,219 shares of the company's stock after selling 3,646 shares during the period. Rockland Trust Co.'s holdings in Philip Morris International were worth $2,098,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Philip Morris International by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 139,432,392 shares of the company's stock valued at $16,780,688,000 after purchasing an additional 1,167,810 shares during the last quarter. Capital World Investors grew its stake in Philip Morris International by 3.6% in the 4th quarter. Capital World Investors now owns 122,584,210 shares of the company's stock valued at $14,752,926,000 after buying an additional 4,216,586 shares during the last quarter. GQG Partners LLC raised its holdings in Philip Morris International by 14.3% in the 4th quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock worth $5,866,678,000 after acquiring an additional 6,092,558 shares during the period. Geode Capital Management LLC lifted its position in Philip Morris International by 9.9% during the 4th quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company's stock worth $4,241,837,000 after acquiring an additional 3,185,258 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Philip Morris International by 3.1% during the fourth quarter. Wellington Management Group LLP now owns 17,276,790 shares of the company's stock valued at $2,079,262,000 after acquiring an additional 516,617 shares during the period. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on PM. Citigroup lifted their price objective on Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, April 16th. Wall Street Zen downgraded Philip Morris International from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Morgan Stanley reiterated 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. Barclays raised their price objective on shares of Philip Morris International from $205.00 to $220.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, Bank of America upped 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. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $176.80.

Philip Morris International Stock Down 0.0%

Shares of Philip Morris International stock traded down $0.09 on Friday, hitting $184.01. The stock had a trading volume of 5,500,599 shares, compared to its average volume of 5,616,006. The stock has a market cap of $286.41 billion, a price-to-earnings ratio of 40.80, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. Philip Morris International Inc. has a twelve month low of $98.93 and a twelve month high of $185.08. The business's 50 day moving average is $169.95 and its two-hundred day moving average is $148.87.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate 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 negative return on equity of 120.08% and a net margin of 7.89%. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.50 earnings per share. As a group, equities analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The company 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 $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.93%. 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.