Matrix Asset Advisors Inc. NY Has $224,000 Stake in Philip Morris International Inc. $PM

Matrix Asset Advisors Inc. NY decreased its position in Philip Morris International Inc. (NYSE:PM) by 9.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,229 shares of the company’s stock after selling 133 shares during the period. Matrix Asset Advisors Inc. NY’s holdings in Philip Morris International were worth $224,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PM. Nuveen LLC acquired a new stake in shares of Philip Morris International in the 1st quarter valued at about $1,712,994,000. Wellington Management Group LLP raised its stake in shares of Philip Morris International by 26.4% in the 1st quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock valued at $3,466,730,000 after purchasing an additional 4,563,632 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Philip Morris International by 57.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company’s stock valued at $1,554,686,000 after purchasing an additional 3,575,158 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Philip Morris International by 22.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,018,628 shares of the company’s stock valued at $1,431,527,000 after purchasing an additional 1,635,636 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of Philip Morris International by 111.1% in the 1st quarter. AQR Capital Management LLC now owns 3,002,216 shares of the company’s stock valued at $473,660,000 after purchasing an additional 1,580,368 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Up 2.3%

Shares of NYSE PM opened at $160.51 on Friday. The business’s 50 day moving average price is $164.24 and its two-hundred day moving average price is $168.77. The company has a market cap of $249.85 billion, a PE ratio of 30.52, a price-to-earnings-growth ratio of 2.34 and a beta of 0.46. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. The firm had revenue of $8.12 billion for the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. As a group, research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.7%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Friday, October 3rd. Philip Morris International’s dividend payout ratio (DPR) is presently 111.79%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $195.00 target price on shares of Philip Morris International in a research report on Wednesday, July 23rd. Jefferies Financial Group assumed coverage on Philip Morris International in a research report on Wednesday, July 9th. They issued a “buy” rating and a $220.00 target price on the stock. Wall Street Zen downgraded Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. UBS Group lowered their target price on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a research report on Friday, September 5th. Finally, KGI Securities assumed coverage on Philip Morris International in a research report on Monday, August 4th. They issued an “outperform” rating on the stock. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $195.44.

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.