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Philip Morris International Inc. (NYSE:PM - Get Rating) was the recipient of a significant decrease in short interest in the month of April. As of April 30th, there was short interest totalling 9,560,000 shares, a decrease of 14.0% from the April 15th total of 11,110,000 shares. Based on an average daily trading volume, of 6,470,000 shares, the days-to-cover ratio is presently 1.5 days. Currently, 0.6% of the company's shares are short sold.

In other news, insider Wilde Frederic De sold 29,941 shares of the firm's stock in a transaction dated Tuesday, February 22nd. The stock was sold at an average price of $108.49, for a total value of $3,248,299.09. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.13% of the company's stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Worldquant Millennium Advisors LLC boosted its position in Philip Morris International by 846.8% during the first quarter. Worldquant Millennium Advisors LLC now owns 195,403 shares of the company's stock valued at $18,356,000 after purchasing an additional 174,764 shares during the last quarter. Wealthfront Advisers LLC boosted its position in Philip Morris International by 9.3% during the first quarter. Wealthfront Advisers LLC now owns 98,616 shares of the company's stock valued at $9,264,000 after purchasing an additional 8,430 shares during the last quarter. Continuum Advisory LLC boosted its position in Philip Morris International by 128.9% during the first quarter. Continuum Advisory LLC now owns 9,857 shares of the company's stock valued at $986,000 after purchasing an additional 5,550 shares during the last quarter. Linscomb & Williams Inc. boosted its position in Philip Morris International by 3.8% during the first quarter. Linscomb & Williams Inc. now owns 94,182 shares of the company's stock valued at $8,847,000 after purchasing an additional 3,470 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its position in Philip Morris International by 4.9% during the first quarter. Advisors Asset Management Inc. now owns 176,489 shares of the company's stock valued at $16,579,000 after purchasing an additional 8,271 shares during the last quarter. 74.78% of the stock is owned by hedge funds and other institutional investors.

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PM has been the topic of several recent research reports. StockNews.com initiated coverage on Philip Morris International in a report on Thursday, March 31st. They issued a "hold" rating on the stock. UBS Group raised their price target on Philip Morris International from $95.00 to $110.00 and gave the stock a "neutral" rating in a report on Thursday, February 17th. JPMorgan Chase & Co. downgraded Philip Morris International from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $130.00 to $110.00 in a report on Monday, March 7th. Morgan Stanley raised their price target on Philip Morris International from $104.00 to $112.00 and gave the stock an "overweight" rating in a report on Friday, April 22nd. Finally, Barclays cut their target price on Philip Morris International from $125.00 to $120.00 in a research note on Friday, February 25th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Philip Morris International presently has a consensus rating of "Buy" and an average target price of $112.00.

Shares of NYSE PM opened at $106.30 on Wednesday. The stock has a market capitalization of $164.78 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 3.77 and a beta of 0.66. The stock's fifty day simple moving average is $98.27 and its 200 day simple moving average is $97.83. Philip Morris International has a 52-week low of $85.64 and a 52-week high of $112.48.

Philip Morris International (NYSE:PM - Get Rating) last issued its quarterly earnings results on Thursday, April 21st. The company reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.48 by $0.08. Philip Morris International had a negative return on equity of 110.49% and a net margin of 10.97%. The business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.43 billion. During the same quarter in the previous year, the company posted $1.57 earnings per share. Philip Morris International's revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, sell-side analysts expect that Philip Morris International will post 5.53 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 12th. Stockholders of record on Thursday, March 24th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, March 23rd. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.70%. Philip Morris International's dividend payout ratio is 86.51%.

About Philip Morris International (Get Rating)

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, smoke-free products, and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Creations, HEETS Dimensions, HEETS Marlboro, HEETS FROM MARLBORO, Marlboro Dimensions, Marlboro HeatSticks, and Parliament HeatSticks brands, as well as under the Fiit and Miix licensed brands.

Further ReadingGet a free copy of the StockNews.com research report on Philip Morris International (PM)Roku Stock is Repricing and Resetting ItselfThe Institutions Are Capping Gains In Take-Two InteractiveWalmart’s “Everyday Low Prices” Gets Burned By Inflation VMWare Inc: Strong Revenues and Excellent PotentialTime to Ride These 3 Mid Cap Momentum Plays

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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