Heritage Wealth Advisors Cuts Stock Position in Philip Morris International Inc. $PM

Heritage Wealth Advisors decreased its holdings in Philip Morris International Inc. (NYSE:PM) by 2.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 76,367 shares of the company’s stock after selling 2,224 shares during the quarter. Heritage Wealth Advisors’ holdings in Philip Morris International were worth $13,909,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PM. Legacy Investment Solutions LLC purchased a new position in Philip Morris International in the 2nd quarter valued at approximately $25,000. Traub Capital Management LLC acquired a new stake in shares of Philip Morris International in the second quarter valued at $25,000. Abound Wealth Management grew its stake in Philip Morris International by 566.7% during the 2nd quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after purchasing an additional 136 shares in the last quarter. Briaud Financial Planning Inc grew its holdings in Philip Morris International by 266.7% during the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after acquiring an additional 120 shares in the last quarter. Finally, Kelly Lawrence W & Associates Inc. CA purchased a new stake in shares of Philip Morris International in the 1st quarter valued at approximately $30,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Up 2.2%

Shares of NYSE PM opened at $156.05 on Wednesday. The business has a 50-day moving average price of $157.08 and a 200 day moving average price of $167.63. The stock has a market cap of $242.92 billion, a PE ratio of 28.27, a price-to-earnings-growth ratio of 2.21 and a beta of 0.43. 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 quarterly earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The company had revenue of $8.12 billion for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%. Sell-side analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were paid a dividend of $1.47 per share. The ex-dividend date was Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a yield of 3.8%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio (DPR) is currently 106.52%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PM shares. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. KGI Securities assumed coverage on Philip Morris International in a research note on Monday, August 4th. They issued an “outperform” rating on the stock. Morgan Stanley set a $175.00 price objective on Philip Morris International and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. The Goldman Sachs Group reiterated a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Finally, UBS Group lowered their price target on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a report on Friday, September 5th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $189.56.

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.