Gables Capital Management Inc. Reduces Position in Philip Morris International Inc. $PM

Gables Capital Management Inc. decreased its position in Philip Morris International Inc. (NYSE:PM) by 36.5% during the second quarter, Holdings Channel reports. The fund owned 2,443 shares of the company’s stock after selling 1,403 shares during the period. Gables Capital Management Inc.’s holdings in Philip Morris International were worth $445,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of PM. Brighton Jones LLC lifted its holdings in Philip Morris International by 31.1% in the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock valued at $1,027,000 after acquiring an additional 2,023 shares during the period. Revolve Wealth Partners LLC lifted its holdings in Philip Morris International by 4.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock valued at $252,000 after acquiring an additional 91 shares during the period. GAMMA Investing LLC lifted its holdings in Philip Morris International by 26.5% in the first quarter. GAMMA Investing LLC now owns 28,268 shares of the company’s stock valued at $4,487,000 after acquiring an additional 5,930 shares during the period. JFS Wealth Advisors LLC lifted its holdings in Philip Morris International by 4.9% in the first quarter. JFS Wealth Advisors LLC now owns 4,761 shares of the company’s stock valued at $756,000 after acquiring an additional 223 shares during the period. Finally, Valmark Advisers Inc. lifted its holdings in Philip Morris International by 4.1% in the first quarter. Valmark Advisers Inc. now owns 4,655 shares of the company’s stock valued at $739,000 after acquiring an additional 185 shares during the period. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

NYSE PM opened at $151.92 on Wednesday. The stock has a market capitalization of $236.48 billion, a PE ratio of 28.88, a P/E/G ratio of 2.31 and a beta of 0.46. The business has a 50 day simple moving average of $162.81 and a two-hundred day simple moving average of $168.80. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. The business 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, analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were issued a $1.47 dividend. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date was Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.9%. Philip Morris International’s dividend payout ratio (DPR) is presently 111.79%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PM shares. UBS Group lowered their target price on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a report on Friday, September 5th. Citigroup reissued a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. KGI Securities started coverage on Philip Morris International in a research note on Monday, August 4th. They set an “outperform” rating on the stock. Needham & Company LLC reissued a “buy” rating and set a $195.00 target price on shares of Philip Morris International in a research note on Wednesday, July 23rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and an average price target of $195.44.

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.