Boltwood Capital Management Reduces Stake in Philip Morris International Inc (PM)

Boltwood Capital Management trimmed its stake in shares of Philip Morris International Inc (NYSE:PM) by 5.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,111 shares of the company’s stock after selling 126 shares during the quarter. Boltwood Capital Management’s holdings in Philip Morris International were worth $247,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in PM. Welch Investments LLC acquired a new stake in shares of Philip Morris International during the 1st quarter worth approximately $113,000. American Beacon Advisors Inc. bought a new position in Philip Morris International in the 1st quarter worth approximately $114,000. Gemmer Asset Management LLC grew its holdings in Philip Morris International by 40.6% in the 1st quarter. Gemmer Asset Management LLC now owns 1,115 shares of the company’s stock worth $126,000 after buying an additional 322 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC grew its holdings in Philip Morris International by 75.0% in the 1st quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,750 shares of the company’s stock worth $198,000 after buying an additional 750 shares in the last quarter. Finally, Sterling Investment Advisors Ltd. grew its holdings in Philip Morris International by 23.2% in the 1st quarter. Sterling Investment Advisors Ltd. now owns 1,765 shares of the company’s stock worth $199,000 after buying an additional 332 shares in the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

Shares of Philip Morris International Inc (NYSE:PM) traded down 0.81% during mid-day trading on Friday, hitting $115.79. The company had a trading volume of 5,992,435 shares. The firm’s 50-day moving average price is $116.22 and its 200 day moving average price is $115.56. Philip Morris International Inc has a one year low of $86.78 and a one year high of $123.55. The company has a market capitalization of $179.84 billion, a P/E ratio of 25.66 and a beta of 0.94.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, July 20th. The company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.09). Philip Morris International had a negative return on equity of 66.18% and a net margin of 9.36%. The business had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $7.11 billion. During the same period last year, the firm earned $1.15 earnings per share. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. Analysts predict that Philip Morris International Inc will post $4.83 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Wednesday, September 27th will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Tuesday, September 26th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.04. This represents a $4.28 annualized dividend and a yield of 3.70%. Philip Morris International’s payout ratio is 92.24%.

In other Philip Morris International news, insider Drago Azinovic sold 14,000 shares of the business’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $116.00, for a total transaction of $1,624,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.23% of the company’s stock.

A number of equities analysts recently issued reports on PM shares. TheStreet raised Philip Morris International from a “c+” rating to a “b-” rating in a report on Thursday, July 20th. Zacks Investment Research lowered Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Berenberg Bank set a $96.00 price objective on Philip Morris International and gave the stock a “hold” rating in a report on Saturday, June 24th. Wells Fargo & Company reissued an “outperform” rating on shares of Philip Morris International in a report on Friday, June 9th. Finally, Citigroup Inc. reissued a “neutral” rating and issued a $125.00 price objective (down from $128.00) on shares of Philip Morris International in a report on Monday, July 24th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $122.79.

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About Philip Morris International

Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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