Philip Morris International Inc. $PM Shares Sold by Private Advisory Group LLC

Private Advisory Group LLC lowered its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 65.6% in the third quarter, Holdings Channel.com reports. The fund owned 1,387 shares of the company’s stock after selling 2,648 shares during the quarter. Private Advisory Group LLC’s holdings in Philip Morris International were worth $265,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PM. Bank of New York Mellon Corp raised its stake in shares of Philip Morris International by 30.9% during the second quarter. Bank of New York Mellon Corp now owns 11,669,878 shares of the company’s stock valued at $2,111,198,000 after acquiring an additional 2,755,662 shares in the last quarter. Teamwork Financial Advisors LLC grew its stake in Philip Morris International by 2,662.6% in the second quarter. Teamwork Financial Advisors LLC now owns 65,695 shares of the company’s stock worth $11,885,000 after purchasing an additional 63,317 shares in the last quarter. Perennial Investment Advisors LLC bought a new position in Philip Morris International in the second quarter worth approximately $505,000. Orographic Financial Advisors LLC purchased a new position in Philip Morris International during the 1st quarter worth $1,205,000. Finally, State Street Corp increased its holdings in Philip Morris International by 1.0% during the 2nd quarter. State Street Corp now owns 55,569,994 shares of the company’s stock worth $10,134,454,000 after purchasing an additional 536,968 shares during the period. Institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PM shares. Weiss Ratings raised Philip Morris International from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, November 4th. Morgan Stanley increased their price target on Philip Morris International from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. BTIG Research set a $221.00 price target on Philip Morris International and gave the company a “buy” rating in a research note on Friday, July 24th. Argus lifted their price objective on Philip Morris International from $210.00 to $220.00 and gave the company a “buy” rating in a report on Monday, October 26th. Finally, JPMorgan Chase & Co. began coverage on shares of Philip Morris International in a research note on Tuesday, November 10th. They issued a “neutral” rating and a $200.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $213.90.

Philip Morris International Stock Up 1.1%

Shares of NYSE PM traded up $2.16 during midday trading on Friday, reaching $198.82. 3,190,584 shares of the company’s stock traded hands, compared to its average volume of 4,957,140. The company has a market cap of $309.89 billion, a price-to-earnings ratio of 29.02, a P/E/G ratio of 2.64 and a beta of 0.34. The stock’s 50 day simple moving average is $196.34 and its 200-day simple moving average is $183.37. Philip Morris International Inc. has a one year low of $146.35 and a one year high of $214.35.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Wednesday, October 21st. The company reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.06. The company had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $11.32 billion. Philip Morris International had a net margin of 10.73% and a negative return on equity of 183.96%. Philip Morris International’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.24 earnings per share. Equities analysts predict that Philip Morris International Inc. will post 8.32 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Friday, October 2nd were issued a $1.60 dividend. The ex-dividend date was Friday, October 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.2%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.47. Philip Morris International’s dividend payout ratio (DPR) is 93.43%.

Philip Morris International Company Profile

Philip Morris International is a global tobacco and nicotine company that develops, manufactures and sells cigarettes and smoke-free products. Its cigarette brands include Marlboro in markets outside the United States, along with other regional and international brands. The company’s smoke-free portfolio includes IQOS heated tobacco products, ZYN nicotine pouches and VEEV e-vapor products. Philip Morris International sells its products in markets around the world, with availability varying by country and subject to local regulations.