Philip Morris International Inc. $PM Holdings Lowered by Cedar Wealth Management LLC

Cedar Wealth Management LLC lowered its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 41.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,516 shares of the company’s stock after selling 54,463 shares during the quarter. Philip Morris International makes up 4.8% of Cedar Wealth Management LLC’s portfolio, making the stock its 7th biggest holding. Cedar Wealth Management LLC’s holdings in Philip Morris International were worth $14,300,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PM. PFS Partners LLC grew its holdings in Philip Morris International by 24.8% during the 2nd quarter. PFS Partners LLC now owns 292 shares of the company’s stock valued at $53,000 after buying an additional 58 shares in the last quarter. Uncommon Cents Investing LLC boosted its position in shares of Philip Morris International by 1.1% during the second quarter. Uncommon Cents Investing LLC now owns 5,666 shares of the company’s stock worth $1,032,000 after acquiring an additional 61 shares during the last quarter. NFP Retirement Inc. grew its stake in Philip Morris International by 2.5% during the first quarter. NFP Retirement Inc. now owns 2,589 shares of the company’s stock valued at $411,000 after acquiring an additional 62 shares in the last quarter. Cranbrook Wealth Management LLC increased its holdings in Philip Morris International by 6.5% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 1,014 shares of the company’s stock valued at $185,000 after acquiring an additional 62 shares during the last quarter. Finally, Renasant Bank increased its holdings in Philip Morris International by 3.3% in the 1st quarter. Renasant Bank now owns 1,994 shares of the company’s stock valued at $317,000 after acquiring an additional 63 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

PM has been the subject of several research reports. The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. KGI Securities started coverage on Philip Morris International in a research note on Monday, August 4th. They set an “outperform” rating for the company. UBS Group reduced their price objective on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a research note on Friday, September 5th. Barclays decreased their price objective on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Finally, Morgan Stanley set a $175.00 target price on shares of Philip Morris International and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $194.00.

Philip Morris International Price Performance

Shares of PM stock opened at $155.35 on Friday. The company has a market cap of $241.83 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 2.25 and a beta of 0.43. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69. The stock’s 50 day simple moving average is $157.45 and its two-hundred day simple moving average is $167.90.

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 9.33%.The firm had revenue of $8.12 billion for the quarter. Equities research analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were issued a $1.47 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date was Friday, October 3rd. This represents a $5.88 annualized dividend and a dividend yield of 3.8%. Philip Morris International’s dividend payout ratio (DPR) is 106.52%.

Philip Morris International Company 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.