Hennessy Advisors Inc. Sells 11,400 Shares of Philip Morris International Inc. (NYSE:PM)

Hennessy Advisors Inc. cut its position in shares of Philip Morris International Inc. (NYSE:PM) by 14.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,300 shares of the company’s stock after selling 11,400 shares during the quarter. Hennessy Advisors Inc.’s holdings in Philip Morris International were worth $10,683,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PM. Capital & Planning LLC raised its stake in Philip Morris International by 7.1% during the fourth quarter. Capital & Planning LLC now owns 2,613 shares of the company’s stock valued at $318,000 after buying an additional 173 shares during the last quarter. Brighton Jones LLC raised its stake in Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock valued at $1,027,000 after buying an additional 2,023 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in Philip Morris International by 4.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock valued at $252,000 after buying an additional 91 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Philip Morris International by 68.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 380,783 shares of the company’s stock valued at $46,113,000 after buying an additional 154,206 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in Philip Morris International by 9.0% during the fourth quarter. Asset Management One Co. Ltd. now owns 858,383 shares of the company’s stock valued at $104,238,000 after buying an additional 71,181 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on PM shares. Bank of America lifted their price objective on Philip Morris International from $182.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Argus upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Friday, March 14th. Wall Street Zen cut Philip Morris International from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. JPMorgan Chase & Co. boosted their price target on Philip Morris International from $145.00 to $160.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Finally, Citigroup boosted their price target on Philip Morris International from $163.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 16th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Philip Morris International presently has an average rating of “Moderate Buy” and an average price target of $176.80.

Philip Morris International Stock Performance

Philip Morris International stock opened at $184.01 on Friday. The stock has a market cap of $286.41 billion, a PE ratio of 40.80, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. Philip Morris International Inc. has a one year low of $98.93 and a one year high of $185.16. The stock has a fifty day moving average of $170.67 and a 200 day moving average of $149.22.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.08. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. The business had revenue of $9.30 billion during the quarter, compared to analyst estimates of $9.10 billion. During the same quarter in the previous year, the company posted $1.50 earnings per share. Philip Morris International’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, sell-side analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.93%. Philip Morris International’s dividend payout ratio is presently 111.34%.

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.