GW Henssler & Associates Ltd. reduced its stake in shares of Philip Morris International Inc. (NYSE:PM – Free Report) by 1.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 271,210 shares of the company’s stock after selling 2,884 shares during the quarter. Philip Morris International makes up approximately 2.4% of GW Henssler & Associates Ltd.’s portfolio, making the stock its 5th largest position. GW Henssler & Associates Ltd.’s holdings in Philip Morris International were worth $43,049,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Linscomb Wealth Inc. boosted its holdings in shares of Philip Morris International by 3.3% during 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 during the period. Mackenzie Financial Corp boosted its holdings in shares of Philip Morris International by 7.3% during 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 during the period. 49 Wealth Management LLC boosted its holdings in shares of Philip Morris International by 79.0% during the first quarter. 49 Wealth Management LLC now owns 5,334 shares of the company’s stock worth $847,000 after purchasing an additional 2,354 shares during the period. Cortland Associates Inc. MO boosted its holdings in shares of Philip Morris International by 704.0% during 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 during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Philip Morris International by 24.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company’s stock worth $69,695,000 after purchasing an additional 87,631 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.
Philip Morris International Trading Up 0.8%
Shares of Philip Morris International stock opened at $167.15 on Monday. The firm has a fifty day simple moving average of $172.04 and a 200-day simple moving average of $166.99. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69. The stock has a market capitalization of $260.18 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 2.43 and a beta of 0.49.
Philip Morris International Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Friday, June 27th. Philip Morris International’s payout ratio is presently 102.66%.
Analyst Ratings Changes
Several analysts recently commented on PM shares. Needham & Company LLC restated a “buy” rating and set a $195.00 price target on shares of Philip Morris International in a report on Wednesday, July 23rd. Bank of America boosted their target price on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Barclays decreased their target price on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Jefferies Financial Group started coverage on shares of Philip Morris International in a research report on Wednesday, July 9th. They issued a “buy” rating and a $220.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.27.
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.
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