Calamos Wealth Management LLC Sells 586 Shares of Philip Morris International Inc. $PM

Calamos Wealth Management LLC lessened its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 11.1% in the second quarter, Holdings Channel.com reports. The fund owned 4,670 shares of the company’s stock after selling 586 shares during the period. Calamos Wealth Management LLC’s holdings in Philip Morris International were worth $851,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Abound Wealth Management lifted its position in shares of Philip Morris International by 566.7% in the 2nd quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after purchasing an additional 136 shares during the period. Kelly Lawrence W & Associates Inc. CA bought a new position in Philip Morris International in the first quarter worth about $30,000. CBIZ Investment Advisory Services LLC lifted its holdings in Philip Morris International by 405.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock worth $32,000 after buying an additional 162 shares during the period. Clal Insurance Enterprises Holdings Ltd bought a new stake in Philip Morris International during the 1st quarter valued at approximately $34,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of Philip Morris International during the 1st quarter worth approximately $35,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

PM has been the subject of a number of research analyst reports. Wall Street Zen cut Philip Morris International from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. UBS Group decreased their price objective on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a report on Friday, September 5th. KGI Securities began coverage on shares of Philip Morris International in a report on Monday, August 4th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. upped their target price on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Finally, Citigroup reissued a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Philip Morris International currently has an average rating of “Moderate Buy” and an average target price of $195.44.

Philip Morris International Trading Up 1.3%

Philip Morris International stock opened at $158.08 on Monday. The business’s fifty day simple moving average is $163.40 and its two-hundred day simple moving average is $168.86. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69. The company has a market capitalization of $246.06 billion, a price-to-earnings ratio of 30.05, a price-to-earnings-growth ratio of 2.31 and a beta of 0.46.

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

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be paid a $1.47 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, October 3rd. Philip Morris International’s payout ratio is currently 111.79%.

About Philip Morris International

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.