Violich Capital Management Inc. Lowers Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Violich Capital Management Inc. lessened its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 3.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 72,995 shares of the company's stock after selling 2,610 shares during the period. Philip Morris International makes up about 1.6% of Violich Capital Management Inc.'s holdings, making the stock its 18th largest position. Violich Capital Management Inc.'s holdings in Philip Morris International were worth $11,586,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. 49 Wealth Management LLC lifted its holdings in shares of Philip Morris International by 79.0% in the first quarter. 49 Wealth Management LLC now owns 5,334 shares of the company's stock valued at $847,000 after purchasing an additional 2,354 shares in the last quarter. Cortland Associates Inc. MO raised its position in Philip Morris International by 704.0% in the 1st 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 during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake 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 valued at $69,695,000 after acquiring an additional 87,631 shares in the last quarter. Brighton Jones LLC lifted its stake in 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 acquiring an additional 2,023 shares in the last quarter. Finally, Symmetry Investments LP purchased a new position in Philip Morris International during the 4th quarter worth $1,966,000. Institutional investors own 78.63% of the company's stock.

Philip Morris International Trading Down 2.1%

Shares of PM stock traded down $3.77 on Thursday, hitting $179.51. 6,940,221 shares of the stock were exchanged, compared to its average volume of 5,661,808. The firm's 50 day moving average is $178.49 and its two-hundred day moving average is $157.75. Philip Morris International Inc. has a one year low of $106.35 and a one year high of $186.69. The firm has a market capitalization of $279.40 billion, a PE ratio of 37.01, a P/E/G ratio of 2.59 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 the consensus estimate of $1.61 by $0.08. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The firm had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter last year, the company earned $1.50 earnings per share. The company's revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were given a dividend of $1.35 per share. The ex-dividend date was Friday, June 27th. This represents a $5.40 annualized dividend and a dividend yield of 3.01%. Philip Morris International's dividend payout ratio is currently 111.34%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Morgan Stanley reaffirmed an "overweight" rating and issued a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. UBS Group set a $181.00 target price on shares of Philip Morris International and gave the stock a "neutral" rating in a research report on Monday. Stifel Nicolaus upped their target price on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Finally, Jefferies Financial Group assumed coverage on Philip Morris International in a report on Wednesday, July 9th. They set a "buy" rating and a $220.00 price target on the stock. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Philip Morris International presently has an average rating of "Moderate Buy" and an average price target of $186.73.

About Philip Morris International

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.