Philip Morris International Inc. (NYSE:PM) Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. reduced its stake in shares of Philip Morris International Inc. (NYSE:PM) by 11.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,347 shares of the company’s stock after selling 3,368 shares during the quarter. Griffin Asset Management Inc.’s holdings in Philip Morris International were worth $2,414,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Independence Bank of Kentucky lifted its holdings in shares of Philip Morris International by 34.6% in the first quarter. Independence Bank of Kentucky now owns 16,097 shares of the company’s stock valued at $1,475,000 after purchasing an additional 4,134 shares in the last quarter. Financial Management Professionals Inc. lifted its stake in Philip Morris International by 6.7% in the 1st quarter. Financial Management Professionals Inc. now owns 6,329 shares of the company’s stock valued at $580,000 after buying an additional 397 shares in the last quarter. Pinnacle Bancorp Inc. lifted its stake in Philip Morris International by 9.2% in the 1st quarter. Pinnacle Bancorp Inc. now owns 4,172 shares of the company’s stock valued at $382,000 after buying an additional 352 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in Philip Morris International by 45.4% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 10,501 shares of the company’s stock valued at $962,000 after buying an additional 3,280 shares during the last quarter. Finally, Hennessy Advisors Inc. increased its position in Philip Morris International by 58.3% during the first quarter. Hennessy Advisors Inc. now owns 83,900 shares of the company’s stock worth $7,687,000 after buying an additional 30,900 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $96.42, for a total value of $1,928,400.00. Following the completion of the transaction, the insider now directly owns 178,447 shares of the company’s stock, valued at approximately $17,205,859.74. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

PM has been the topic of several recent research reports. Argus restated a “hold” rating on shares of Philip Morris International in a research report on Tuesday, March 5th. Stifel Nicolaus upped their price objective on Philip Morris International from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $104.22.

Philip Morris International Stock Performance

Shares of NYSE:PM traded down $0.24 during midday trading on Friday, hitting $101.33. 7,299,472 shares of the company’s stock traded hands, compared to its average volume of 5,042,973. The firm’s fifty day moving average price is $100.08 and its two-hundred day moving average price is $94.93. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $104.90. The company has a market cap of $157.52 billion, a PE ratio of 19.80, a P/E/G ratio of 2.09 and a beta of 0.57.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.09. Philip Morris International had a negative return on equity of 113.26% and a net margin of 8.58%. The company had revenue of $8.79 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter in the previous year, the firm posted $1.38 earnings per share. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts anticipate that Philip Morris International Inc. will post 6.32 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Friday, June 21st will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.13%. The ex-dividend date is Friday, June 21st. Philip Morris International’s dividend payout ratio (DPR) is 101.56%.

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.