Philip Morris International Inc. $PM Stock Position Lowered by Means Investment CO. Inc.

Means Investment CO. Inc. lessened its position in Philip Morris International Inc. (NYSE:PM) by 0.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,948 shares of the company’s stock after selling 197 shares during the quarter. Means Investment CO. Inc.’s holdings in Philip Morris International were worth $5,819,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Philip Morris International by 28.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 203,550 shares of the company’s stock valued at $37,081,000 after purchasing an additional 44,473 shares in the last quarter. Sather Financial Group Inc acquired a new stake in shares of Philip Morris International in the second quarter worth $766,000. Muirfield Wealth Advisors LLC acquired a new stake in shares of Philip Morris International in the second quarter worth $201,000. Concurrent Investment Advisors LLC lifted its stake in Philip Morris International by 1.1% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 50,012 shares of the company’s stock worth $9,109,000 after acquiring an additional 526 shares in the last quarter. Finally, waypoint wealth counsel lifted its stake in Philip Morris International by 45.8% in the 2nd quarter. waypoint wealth counsel now owns 1,884 shares of the company’s stock worth $343,000 after acquiring an additional 592 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Up 2.3%

Shares of PM opened at $160.51 on Friday. The company’s fifty day moving average is $164.24 and its 200-day moving average is $168.77. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69. The firm has a market cap of $249.85 billion, a price-to-earnings ratio of 30.52, a price-to-earnings-growth ratio of 2.34 and a beta of 0.46.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The firm had revenue of $8.12 billion for the quarter. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. As a group, research analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be issued a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.7%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s payout ratio is currently 111.79%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PM. Needham & Company LLC reiterated a “buy” rating and issued a $195.00 target price on shares of Philip Morris International in a report on Wednesday, July 23rd. Citigroup reiterated a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. Jefferies Financial Group assumed coverage on shares of Philip Morris International in a research note on Wednesday, July 9th. They issued a “buy” rating and a $220.00 price objective on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday. Finally, Barclays dropped their price target on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.44.

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.