Stratos Wealth Partners LTD. Lowers Holdings in Philip Morris International Inc. (NYSE:PM)

Stratos Wealth Partners LTD. cut its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 10.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,668 shares of the company's stock after selling 2,531 shares during the period. Stratos Wealth Partners LTD.'s holdings in Philip Morris International were worth $3,598,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC grew its position in Philip Morris International by 24.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock worth $69,695,000 after acquiring an additional 87,631 shares during the last quarter. Brighton Jones LLC boosted its position in shares of Philip Morris International by 31.1% during the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock valued at $1,027,000 after purchasing an additional 2,023 shares in the last quarter. Symmetry Investments LP bought a new position in Philip Morris International in the fourth quarter worth approximately $1,966,000. Worth Asset Management LLC bought a new position in Philip Morris International in the first quarter worth approximately $2,223,000. Finally, Annex Advisory Services LLC raised its stake in shares of Philip Morris International by 46.6% in the first quarter. Annex Advisory Services LLC now owns 34,715 shares of the company's stock worth $5,510,000 after purchasing an additional 11,034 shares during the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on PM shares. Bank of America increased their price objective on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Barclays raised their target price on Philip Morris International from $220.00 to $225.00 and gave the stock an "overweight" rating in a research report on Thursday. UBS Group raised Philip Morris International from a "sell" rating to a "neutral" rating and raised their price target for the stock from $130.00 to $170.00 in a report on Friday, April 25th. Argus raised Philip Morris International from a "hold" rating to a "buy" rating in a report on Friday, March 14th. Finally, Jefferies Financial Group initiated coverage on Philip Morris International in a research note on Wednesday. They set a "buy" rating and a $220.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Philip Morris International presently has an average rating of "Moderate Buy" and a consensus price target of $185.73.

Philip Morris International Price Performance

NYSE:PM traded down $1.26 during mid-day trading on Friday, reaching $179.73. 3,430,602 shares of the company's stock traded hands, compared to its average volume of 5,634,992. Philip Morris International Inc. has a 12-month low of $104.84 and a 12-month high of $186.69. The company has a 50 day moving average price of $178.05 and a 200-day moving average price of $156.52. The firm has a market capitalization of $279.75 billion, a price-to-earnings ratio of 37.06, a PEG ratio of 2.63 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 earnings per share 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 firm had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter in the prior year, the business earned $1.50 EPS. The business's revenue for the quarter was up 5.8% on a year-over-year basis. As a group, analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.00%. 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.