Philip Morris International Inc. (NYSE:PM) Shares Sold by First Foundation Advisors

First Foundation Advisors trimmed its stake in shares of Philip Morris International Inc. (NYSE:PM) by 8.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 127,509 shares of the company’s stock after selling 12,147 shares during the period. Philip Morris International comprises about 0.8% of First Foundation Advisors’ holdings, making the stock its 27th biggest position. First Foundation Advisors’ holdings in Philip Morris International were worth $20,239,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Perigon Wealth Management LLC grew its stake in shares of Philip Morris International by 0.4% during the 1st quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company’s stock valued at $2,236,000 after buying an additional 60 shares during the period. TBH Global Asset Management LLC grew its stake in shares of Philip Morris International by 0.9% during the 1st quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company’s stock valued at $1,100,000 after buying an additional 61 shares during the period. Capital Advisors Wealth Management LLC grew its stake in shares of Philip Morris International by 2.1% during the 1st quarter. Capital Advisors Wealth Management LLC now owns 3,005 shares of the company’s stock valued at $477,000 after buying an additional 63 shares during the period. Lloyd Advisory Services LLC. grew its stake in shares of Philip Morris International by 3.3% during the 1st quarter. Lloyd Advisory Services LLC. now owns 2,032 shares of the company’s stock valued at $323,000 after buying an additional 64 shares during the period. Finally, Western Wealth Management LLC grew its stake in shares of Philip Morris International by 1.5% during the 1st quarter. Western Wealth Management LLC now owns 4,446 shares of the company’s stock valued at $706,000 after buying an additional 64 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports 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 Sunday, July 20th. Morgan Stanley reaffirmed an “overweight” rating and set a $182.00 price target (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Citigroup reaffirmed an “overweight” rating on shares of Philip Morris International in a research report on Tuesday, July 22nd. Bank of America upped their price target on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Finally, Barclays reaffirmed an “overweight” rating on shares of Philip Morris International in a research report on Tuesday, July 22nd. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus price target of $186.73.

Philip Morris International Price Performance

Shares of PM stock opened at $157.66 on Tuesday. Philip Morris International Inc. has a 12 month low of $112.43 and a 12 month high of $186.69. The firm has a market capitalization of $245.40 billion, a P/E ratio of 29.97, a P/E/G ratio of 2.34 and a beta of 0.51. The company’s fifty day moving average price is $178.55 and its two-hundred day moving average price is $160.95.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.05. The firm had revenue of $10.14 billion for the quarter, compared to analyst estimates of $10.33 billion. Philip Morris International had a net margin of 10.57% and a negative return on equity of 120.86%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.59 EPS. On average, sell-side analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were paid a $1.35 dividend. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.43%. Philip Morris International’s dividend payout ratio (DPR) is presently 102.66%.

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.