Philip Morris International Inc. $PM Shares Sold by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc lowered its position in Philip Morris International Inc. (NYSE:PM) by 13.5% in the third quarter, Holdings Channel reports. The fund owned 115,930 shares of the company’s stock after selling 18,121 shares during the period. Pinnacle Financial Partners Inc’s holdings in Philip Morris International were worth $18,804,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC grew its stake in shares of 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 purchasing an additional 2,023 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in Philip Morris International by 4.5% in 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 in the last quarter. Sivia Capital Partners LLC lifted its holdings in Philip Morris International by 53.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,636 shares of the company’s stock worth $1,027,000 after buying an additional 1,970 shares during the last quarter. Sovran Advisors LLC boosted its position in shares of Philip Morris International by 36.3% during the 2nd quarter. Sovran Advisors LLC now owns 4,631 shares of the company’s stock worth $823,000 after acquiring an additional 1,233 shares in the last quarter. Finally, Focus Financial Network Inc. increased its holdings in shares of Philip Morris International by 11.1% in the 2nd quarter. Focus Financial Network Inc. now owns 5,847 shares of the company’s stock valued at $1,065,000 after acquiring an additional 583 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PM shares. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Morgan Stanley set a $175.00 price objective on shares of Philip Morris International and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Barclays dropped their target price on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a research report on Monday, November 17th. The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Finally, Wall Street Zen downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $189.00.

Philip Morris International Price Performance

PM stock opened at $173.66 on Friday. The company has a market cap of $270.33 billion, a price-to-earnings ratio of 31.46, a price-to-earnings-growth ratio of 1.86 and a beta of 0.40. The company has a fifty day moving average price of $157.72 and a 200 day moving average price of $161.87. Philip Morris International Inc. has a 12 month low of $119.30 and a 12 month high of $186.69.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Friday, October 24th. The company reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.14. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. The company had revenue of $10.85 billion for the quarter, compared to the consensus estimate of $10.67 billion. During the same period last year, the firm posted $1.91 EPS. Philip Morris International’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Friday, December 26th were given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.4%. The ex-dividend date was Friday, December 26th. Philip Morris International’s payout ratio is 106.52%.

About Philip Morris International

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.