Scholtz & Company LLC Reduces Holdings in Philip Morris International Inc. $PM

Scholtz & Company LLC decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,599 shares of the company’s stock after selling 135 shares during the quarter. Scholtz & Company LLC’s holdings in Philip Morris International were worth $2,477,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in PM. WCM Investment Management LLC grew its holdings in shares of Philip Morris International by 24,968.0% during the second quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock worth $2,041,223,000 after purchasing an additional 11,230,626 shares during the last quarter. Nuveen LLC purchased a new position in shares of Philip Morris International during the first quarter worth about $1,712,994,000. Wellington Management Group LLP grew its holdings in shares of Philip Morris International by 26.4% during the first quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock worth $3,466,730,000 after purchasing an additional 4,563,632 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Philip Morris International by 57.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company’s stock worth $1,554,686,000 after buying an additional 3,575,158 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Philip Morris International by 22.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 9,018,628 shares of the company’s stock worth $1,431,527,000 after buying an additional 1,635,636 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PM. Morgan Stanley set a $175.00 price target on Philip Morris International and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. JPMorgan Chase & Co. raised their price target on Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Jefferies Financial Group began coverage on Philip Morris International in a report on Wednesday, July 9th. They set a “buy” rating and a $220.00 price target on the stock. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Twelve investment 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 company has a consensus rating of “Moderate Buy” and an average price target of $194.00.

Philip Morris International Price Performance

Shares of PM stock opened at $145.83 on Friday. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69. The business’s fifty day moving average price is $160.60 and its 200 day moving average price is $168.89. The firm has a market capitalization of $227.00 billion, a PE ratio of 26.42, a P/E/G ratio of 2.13 and a beta of 0.46.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. The company had revenue of $8.12 billion for the quarter. Equities research analysts expect 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 announced a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Friday, October 3rd were given a dividend of $1.47 per share. The ex-dividend date was Friday, October 3rd. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 annualized dividend and a yield of 4.0%. Philip Morris International’s dividend payout ratio (DPR) is currently 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.