Carnegie Investment Counsel Decreases Stock Holdings in Philip Morris International Inc. $PM

Carnegie Investment Counsel decreased its holdings in Philip Morris International Inc. (NYSE:PM) by 1.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 101,647 shares of the company’s stock after selling 1,042 shares during the period. Carnegie Investment Counsel’s holdings in Philip Morris International were worth $18,513,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Prentice Wealth Management LLC increased its position in shares of Philip Morris International by 30.7% during the 2nd quarter. Prentice Wealth Management LLC now owns 1,969 shares of the company’s stock valued at $359,000 after purchasing an additional 462 shares during the last quarter. Avion Wealth increased its position in shares of Philip Morris International by 73.5% during the 2nd quarter. Avion Wealth now owns 229 shares of the company’s stock valued at $41,000 after purchasing an additional 97 shares during the last quarter. Briaud Financial Planning Inc increased its position in shares of Philip Morris International by 266.7% during the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock valued at $30,000 after purchasing an additional 120 shares during the last quarter. FSM Wealth Advisors LLC increased its position in shares of Philip Morris International by 18.3% during the 2nd quarter. FSM Wealth Advisors LLC now owns 4,304 shares of the company’s stock valued at $780,000 after purchasing an additional 667 shares during the last quarter. Finally, Hoge Financial Services LLC increased its position in shares of Philip Morris International by 6.1% during the 2nd quarter. Hoge Financial Services LLC now owns 1,429 shares of the company’s stock valued at $261,000 after purchasing an additional 82 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

PM has been the subject of several research reports. Jefferies Financial Group initiated coverage on shares of Philip Morris International in a research report on Wednesday, July 9th. They set a “buy” rating and a $220.00 price target for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Morgan Stanley set a $175.00 price target on shares of Philip Morris International and gave the company an “overweight” rating in a research report on Wednesday. Wall Street Zen lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $195.00 price objective on shares of Philip Morris International in a research note on Wednesday, July 23rd. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $194.00.

Philip Morris International Stock Up 0.7%

Shares of PM opened at $158.03 on Friday. The company has a market cap of $245.99 billion, a PE ratio of 28.63, a P/E/G ratio of 2.29 and a beta of 0.46. The business has a fifty day moving average of $162.50 and a 200 day moving average of $168.77. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 11.02%.The business had revenue of $8.12 billion for the quarter. As a group, research analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were paid a dividend of $1.47 per share. This is an increase 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 was Friday, October 3rd. Philip Morris International’s payout ratio is 106.52%.

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.