Symphony Financial Ltd. Co. Reduces Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Symphony Financial Ltd. Co. lowered its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 72.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,702 shares of the company's stock after selling 24,949 shares during the quarter. Philip Morris International comprises about 0.9% of Symphony Financial Ltd. Co.'s holdings, making the stock its 29th biggest holding. Symphony Financial Ltd. Co.'s holdings in Philip Morris International were worth $1,543,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PM. Brighton Jones LLC grew its holdings 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 purchasing an additional 2,023 shares during the period. Revolve Wealth Partners LLC boosted its stake in Philip Morris International by 4.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company's stock worth $252,000 after buying an additional 91 shares during the period. TCW Group Inc. boosted its stake in Philip Morris International by 2.6% during the fourth quarter. TCW Group Inc. now owns 21,771 shares of the company's stock worth $2,620,000 after buying an additional 543 shares during the period. Howard Capital Management Inc. boosted its stake in Philip Morris International by 5.4% during the fourth quarter. Howard Capital Management Inc. now owns 10,406 shares of the company's stock worth $1,252,000 after buying an additional 535 shares during the period. Finally, MONECO Advisors LLC boosted its stake in Philip Morris International by 24.0% during the fourth quarter. MONECO Advisors LLC now owns 3,904 shares of the company's stock worth $470,000 after buying an additional 755 shares during the period. Hedge funds and other institutional investors own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PM shares. Wall Street Zen raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Saturday. Needham & Company LLC started coverage on shares of Philip Morris International in a research note on Thursday, May 22nd. They set a "buy" rating for the company. Citigroup increased their target price on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, April 16th. 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. Finally, Stifel Nicolaus increased their target price on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Philip Morris International has an average rating of "Moderate Buy" and an average target price of $176.80.

Philip Morris International Stock Performance

Shares of PM opened at $185.18 on Tuesday. The stock has a market capitalization of $288.24 billion, a PE ratio of 38.18, a P/E/G ratio of 2.66 and a beta of 0.52. Philip Morris International Inc. has a 1 year low of $99.86 and a 1 year high of $186.69. The company's 50-day simple moving average is $174.37 and its 200-day simple moving average is $151.65.

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, topping the consensus estimate of $1.61 by $0.08. The business had revenue of $9.30 billion for 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 business's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.50 earnings per share. On average, sell-side analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International's dividend payout ratio (DPR) is 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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