Genovese Burford & Brothers Wealth & Retirement Plan Management LLC Lowers Stake in Philip Morris International Inc (PM)

Genovese Burford & Brothers Wealth & Retirement Plan Management LLC decreased its stake in shares of Philip Morris International Inc (NYSE:PM) by 7.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,612 shares of the company’s stock after selling 138 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC’s holdings in Philip Morris International were worth $189,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Korea Investment CORP boosted its holdings in Philip Morris International by 39.1% during the first quarter. Korea Investment CORP now owns 1,290,946 shares of the company’s stock worth $145,748,000 after purchasing an additional 362,681 shares during the last quarter. Buckhead Capital Management LLC boosted its holdings in Philip Morris International by 0.3% during the first quarter. Buckhead Capital Management LLC now owns 15,105 shares of the company’s stock worth $1,705,000 after purchasing an additional 50 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in Philip Morris International by 5.0% during the first quarter. Acadian Asset Management LLC now owns 1,353,257 shares of the company’s stock worth $152,786,000 after purchasing an additional 64,537 shares during the last quarter. Sit Investment Associates Inc. boosted its holdings in Philip Morris International by 1.4% during the first quarter. Sit Investment Associates Inc. now owns 265,885 shares of the company’s stock worth $30,018,000 after purchasing an additional 3,775 shares during the last quarter. Finally, Chickasaw Capital Management LLC boosted its holdings in Philip Morris International by 3.9% during the first quarter. Chickasaw Capital Management LLC now owns 42,484 shares of the company’s stock worth $4,796,000 after purchasing an additional 1,575 shares during the last quarter. 72.01% of the stock is owned by institutional investors.

Shares of Philip Morris International Inc (NYSE PM) opened at 111.27 on Friday. The firm has a 50-day moving average of $114.80 and a 200-day moving average of $115.71. The firm has a market cap of $172.82 billion, a PE ratio of 24.66 and a beta of 0.93. Philip Morris International Inc has a 52 week low of $86.78 and a 52 week high of $123.55.

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

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Wednesday, September 27th will be issued a $1.07 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.04. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend is Tuesday, September 26th. Philip Morris International’s payout ratio is 94.90%.

In related 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 value of $1,624,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.23% of the stock is currently owned by insiders.

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PM has been the subject of several recent research reports. TheStreet upgraded shares of Philip Morris International from a “c+” rating to a “b-” rating in a report on Thursday, July 20th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $133.00 target price (down previously from $134.00) on shares of Philip Morris International in a report on Saturday, July 22nd. Zacks Investment Research upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a report on Tuesday, July 11th. BidaskClub cut shares of Philip Morris International from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 27th. Finally, Vetr upgraded shares of Philip Morris International from a “strong sell” rating to a “buy” rating and set a $128.00 target price for the company in a report on Monday, June 26th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $123.92.

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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