Davidson Investment Advisors Lowers Stock Holdings in Philip Morris International Inc. $PM

Davidson Investment Advisors decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 2.2% during the second quarter, HoldingsChannel reports. The firm owned 96,597 shares of the company’s stock after selling 2,161 shares during the period. Davidson Investment Advisors’ holdings in Philip Morris International were worth $17,593,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Abound Wealth Management raised its position in Philip Morris International by 566.7% during the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after purchasing an additional 136 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA purchased a new position in shares of Philip Morris International in the first quarter worth about $30,000. CBIZ Investment Advisory Services LLC increased its holdings in shares of Philip Morris International by 405.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock worth $32,000 after buying an additional 162 shares during the period. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Philip Morris International in the first quarter worth about $34,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of Philip Morris International in the first quarter worth about $35,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

Shares of NYSE:PM opened at $157.88 on Thursday. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69. The company has a market cap of $245.75 billion, a PE ratio of 30.02, a P/E/G ratio of 2.32 and a beta of 0.46. The stock’s 50-day moving average is $163.89 and its 200 day moving average is $168.75.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%.The company had revenue of $8.12 billion for the quarter. Analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s payout ratio is presently 111.79%.

Analysts Set New Price Targets

Several research analysts have recently commented on PM shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. UBS Group decreased their price objective on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a report on Friday, September 5th. Jefferies Financial Group started coverage on Philip Morris International in a report on Wednesday, July 9th. They issued a “buy” rating and a $220.00 price objective on the stock. Citigroup reiterated a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. Finally, Wall Street Zen downgraded Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $195.44.

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.