D.A. Davidson & CO. Sells 11,730 Shares of Philip Morris International Inc. $PM

D.A. Davidson & CO. lowered its holdings in Philip Morris International Inc. (NYSE:PM) by 12.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,500 shares of the company’s stock after selling 11,730 shares during the period. D.A. Davidson & CO.’s holdings in Philip Morris International were worth $15,208,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Smith Thornton Advisors LLC bought a new position in Philip Morris International in the second quarter valued at $208,000. IMG Wealth Management Inc. grew its position in Philip Morris International by 8.3% in the second quarter. IMG Wealth Management Inc. now owns 1,690 shares of the company’s stock valued at $308,000 after purchasing an additional 130 shares in the last quarter. Jackson Thornton Wealth Management LLC bought a new position in Philip Morris International in the second quarter valued at $290,000. Whittier Trust Co. of Nevada Inc. grew its position in Philip Morris International by 2.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 191,522 shares of the company’s stock valued at $34,882,000 after purchasing an additional 3,703 shares in the last quarter. Finally, Whittier Trust Co. grew its position in Philip Morris International by 6.7% in the second quarter. Whittier Trust Co. now owns 362,727 shares of the company’s stock valued at $66,063,000 after purchasing an additional 22,719 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

Shares of PM stock opened at $156.91 on Thursday. The company has a market capitalization of $244.25 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 2.22 and a beta of 0.46. The company has a 50-day simple moving average of $162.64 and a 200 day simple moving average of $168.72. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The business had revenue of $8.12 billion during the quarter. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.17%. Sell-side analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Friday, October 3rd were issued a $1.47 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a yield of 3.7%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s payout ratio is presently 106.52%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PM. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Barclays decreased their price objective on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Jefferies Financial Group started coverage on shares of Philip Morris International in a research report on Wednesday, July 9th. They issued a “buy” rating and a $220.00 price objective for the company. KGI Securities started coverage on shares of Philip Morris International in a research report on Monday, August 4th. They issued an “outperform” rating for the company. Finally, UBS Group decreased their price objective on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research report on Friday, September 5th. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $194.00.

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.