Philip Morris International Inc. $PM Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. cut its stake in Philip Morris International Inc. (NYSE:PM) by 24.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,710 shares of the company’s stock after selling 2,871 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Philip Morris International were worth $1,586,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Linscomb Wealth Inc. grew its stake in shares of Philip Morris International by 3.3% in the first quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company’s stock worth $13,207,000 after purchasing an additional 2,669 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of Philip Morris International by 7.3% in the first quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company’s stock worth $568,873,000 after purchasing an additional 242,799 shares in the last quarter. Cortland Associates Inc. MO grew its stake in shares of Philip Morris International by 704.0% in the first quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company’s stock worth $22,690,000 after purchasing an additional 125,171 shares in the last quarter. First American Trust FSB grew its stake in shares of Philip Morris International by 80.0% in the first quarter. First American Trust FSB now owns 56,382 shares of the company’s stock worth $8,949,000 after purchasing an additional 25,063 shares in the last quarter. Finally, SpringVest Wealth Management LLC bought a new position in shares of Philip Morris International in the first quarter worth $253,000. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Up 0.5%

NYSE:PM opened at $148.47 on Thursday. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69. The firm has a market capitalization of $231.11 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 2.14 and a beta of 0.43. The stock has a fifty day simple moving average of $158.89 and a 200 day simple moving average of $168.54.

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. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The business had revenue of $8.12 billion during the quarter. Equities analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were given 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 4.0%. Philip Morris International’s dividend payout ratio is 106.52%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PM shares. Needham & Company LLC reissued a “buy” rating and issued a $195.00 price target on shares of Philip Morris International in a research note on Wednesday, July 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. KGI Securities started coverage on Philip Morris International in a research note on Monday, August 4th. They set an “outperform” rating for the company. Wall Street Zen raised Philip Morris International from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Finally, Jefferies Financial Group started coverage on Philip Morris International in a research note on Wednesday, July 9th. They set a “buy” rating and a $220.00 target price for the company. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $194.00.

Philip Morris International Profile

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.