Primoris Wealth Advisors LLC Cuts Position in Philip Morris International Inc. (NYSE:PM)

Primoris Wealth Advisors LLC lowered its position in shares of Philip Morris International Inc. (NYSE:PM) by 26.4% in the first quarter, Holdings Channel reports. The firm owned 14,663 shares of the company’s stock after selling 5,250 shares during the period. Philip Morris International makes up about 1.8% of Primoris Wealth Advisors LLC’s investment portfolio, making the stock its 20th biggest position. Primoris Wealth Advisors LLC’s holdings in Philip Morris International were worth $2,327,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Brighton Jones LLC grew its stake in Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock worth $1,027,000 after buying an additional 2,023 shares during the period. Revolve Wealth Partners LLC increased its holdings in Philip Morris International by 4.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock valued at $252,000 after purchasing an additional 91 shares in the last quarter. Lake Street Advisors Group LLC raised its position in Philip Morris International by 9.3% in the fourth quarter. Lake Street Advisors Group LLC now owns 8,491 shares of the company’s stock valued at $1,033,000 after purchasing an additional 721 shares during the period. Advisor OS LLC raised its position in Philip Morris International by 6.0% in the fourth quarter. Advisor OS LLC now owns 6,107 shares of the company’s stock valued at $735,000 after purchasing an additional 345 shares during the period. Finally, NewEdge Wealth LLC lifted its stake in shares of Philip Morris International by 0.9% during the fourth quarter. NewEdge Wealth LLC now owns 59,709 shares of the company’s stock worth $7,186,000 after purchasing an additional 559 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PM. Wall Street Zen upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Saturday, June 21st. Stifel Nicolaus lifted their price objective on shares of Philip Morris International from $168.00 to $186.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. UBS Group upgraded shares of Philip Morris International from a “sell” rating to a “neutral” rating and upped their target price for the company from $130.00 to $170.00 in a research note on Friday, April 25th. Citigroup raised their price target on shares of Philip Morris International from $163.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 16th. Finally, Barclays reiterated an “overweight” rating and issued a $220.00 price objective (up previously from $205.00) on shares of Philip Morris International in a report on Friday, June 13th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $176.80.

Philip Morris International Trading Up 0.6%

PM stock opened at $180.61 on Friday. The firm has a 50 day simple moving average of $175.60 and a 200-day simple moving average of $152.43. The company has a market capitalization of $281.13 billion, a P/E ratio of 37.24, a PEG ratio of 2.60 and a beta of 0.52. Philip Morris International Inc. has a twelve month low of $100.80 and a twelve month high of $186.69.

Philip Morris International (NYSE:PM) last released 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 company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter in the previous year, the firm earned $1.50 EPS. The company’s revenue was up 5.8% on a year-over-year basis. On average, research analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date is Friday, June 27th. Philip Morris International’s dividend payout ratio is presently 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.