Wedgewood Investors Inc. PA Has $2.65 Million Holdings in Philip Morris International Inc. $PM

Wedgewood Investors Inc. PA reduced its stake in shares of Philip Morris International Inc. (NYSE:PM) by 1.9% in the second quarter, Holdings Channel reports. The fund owned 14,554 shares of the company’s stock after selling 288 shares during the quarter. Philip Morris International accounts for about 3.1% of Wedgewood Investors Inc. PA’s portfolio, making the stock its 5th largest position. Wedgewood Investors Inc. PA’s holdings in Philip Morris International were worth $2,651,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Linscomb Wealth Inc. grew its position in shares of Philip Morris International by 3.3% during the 1st quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company’s stock valued at $13,207,000 after acquiring an additional 2,669 shares during the period. Mackenzie Financial Corp lifted its stake in shares of Philip Morris International by 7.3% during the 1st quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company’s stock valued at $568,873,000 after buying an additional 242,799 shares in the last quarter. 49 Wealth Management LLC lifted its stake in shares of Philip Morris International by 79.0% during the 1st quarter. 49 Wealth Management LLC now owns 5,334 shares of the company’s stock valued at $847,000 after buying an additional 2,354 shares in the last quarter. Cortland Associates Inc. MO lifted its stake in shares of Philip Morris International by 704.0% during the 1st quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company’s stock valued at $22,690,000 after buying an additional 125,171 shares in the last quarter. Finally, First American Trust FSB lifted its stake in shares of Philip Morris International by 80.0% during the 1st quarter. First American Trust FSB now owns 56,382 shares of the company’s stock valued at $8,949,000 after buying an additional 25,063 shares in the last quarter. 78.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. UBS Group dropped their price target on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a research note on Friday, September 5th. 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. Needham & Company LLC restated a “buy” rating and set a $195.00 price target on shares of Philip Morris International in a research note on Wednesday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Finally, Citigroup restated a “buy” rating on shares of Philip Morris International in a research note on Thursday, September 4th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $195.44.

Philip Morris International Price Performance

NYSE PM opened at $151.92 on Wednesday. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69. 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 company’s 50 day simple moving average is $162.81 and its two-hundred day simple moving average is $168.80.

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

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Friday, October 3rd. 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%.

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.