Philip Morris International Inc. (NYSE:PM) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. trimmed its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 29.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 158,149 shares of the company’s stock after selling 65,038 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Philip Morris International were worth $25,103,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Brighton Jones LLC grew its holdings 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 acquiring an additional 2,023 shares during the period. Symmetry Investments LP purchased a new stake in Philip Morris International in the 4th quarter worth approximately $1,966,000. Worth Asset Management LLC purchased a new stake in Philip Morris International in the 1st quarter worth approximately $2,223,000. Annex Advisory Services LLC grew its stake in shares of Philip Morris International by 46.6% during the 1st quarter. Annex Advisory Services LLC now owns 34,715 shares of the company’s stock worth $5,510,000 after purchasing an additional 11,034 shares during the period. Finally, Farmers Trust Co. increased its holdings in shares of Philip Morris International by 21.1% during the 1st quarter. Farmers Trust Co. now owns 52,574 shares of the company’s stock valued at $8,345,000 after purchasing an additional 9,162 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Stock Down 0.6%

PM opened at $182.44 on Thursday. The company has a market cap of $283.97 billion, a PE ratio of 37.62, a price-to-earnings-growth ratio of 2.66 and a beta of 0.52. Philip Morris International Inc. has a twelve month low of $98.93 and a twelve month high of $186.69. The company has a 50-day moving average price of $172.62 and a 200 day moving average price of $150.28.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, topping 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 company had revenue of $9.30 billion during the quarter, compared to analyst estimates of $9.10 billion. During the same period in the previous year, the business earned $1.50 EPS. Philip Morris International’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International’s payout ratio is 111.34%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PM shares. Bank of America increased their price target on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. 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. Morgan Stanley restated an “overweight” rating and set a $182.00 target price (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Citigroup upped their price target on Philip Morris International from $163.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 16th. Finally, Barclays reiterated an “overweight” rating and set a $220.00 price target (up previously from $205.00) on shares of Philip Morris International in a research report on Friday, June 13th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $176.80.

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.