Victory Capital Management Inc. Trims Position in Philip Morris International Inc. (NYSE:PM)

Victory Capital Management Inc. trimmed its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 39.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,214,710 shares of the company's stock after selling 799,677 shares during the period. Victory Capital Management Inc. owned approximately 0.08% of Philip Morris International worth $192,811,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. 49 Wealth Management LLC raised its holdings in Philip Morris International by 79.0% during the 1st quarter. 49 Wealth Management LLC now owns 5,334 shares of the company's stock worth $847,000 after buying an additional 2,354 shares during the period. Cortland Associates Inc. MO grew its stake in shares of Philip Morris International by 704.0% in the first quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company's stock valued at $22,690,000 after buying an additional 125,171 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Philip Morris International by 24.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock valued at $69,695,000 after buying an additional 87,631 shares in the last quarter. Brighton Jones LLC grew its stake 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 buying an additional 2,023 shares in the last quarter. Finally, Symmetry Investments LP bought a new position in shares of Philip Morris International in the fourth quarter valued at $1,966,000. 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 a number of research analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. UBS Group set a $181.00 price objective on shares of Philip Morris International and gave the stock a "neutral" rating in a research report on Monday. Needham & Company LLC assumed coverage on shares of Philip Morris International in a research report on Thursday, May 22nd. They issued a "buy" rating for the company. Jefferies Financial Group began coverage on shares of Philip Morris International in a research report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 target price for the company. Finally, Stifel Nicolaus boosted their target price 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. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $186.73.

Philip Morris International Trading Down 0.1%

Shares of PM traded down $0.25 during trading hours on Friday, reaching $178.92. The stock had a trading volume of 1,572,728 shares, compared to its average volume of 5,647,611. Philip Morris International Inc. has a 12 month low of $106.76 and a 12 month high of $186.69. The firm has a 50-day simple moving average of $178.64 and a 200 day simple moving average of $158.16. The company has a market capitalization of $278.49 billion, a price-to-earnings ratio of 36.87, a P/E/G ratio of 2.63 and a beta of 0.51.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $9.10 billion. During the same period last year, the business earned $1.50 EPS. The business's revenue was up 5.8% on a year-over-year basis. On average, equities analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.02%. The ex-dividend date was Friday, June 27th. Philip Morris International's dividend payout ratio is presently 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.