Philip Morris International Inc. $PM Holdings Trimmed by Cerro Pacific Wealth Advisors LLC

Cerro Pacific Wealth Advisors LLC lowered its position in shares of Philip Morris International Inc. (NYSE:PM) by 14.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,163 shares of the company’s stock after selling 380 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in Philip Morris International were worth $394,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several analysts have issued reports on the company. KGI Securities assumed coverage on Philip Morris International in a report on Monday, August 4th. They set an “outperform” rating on the stock. Jefferies Financial Group assumed coverage on Philip Morris International in a report on Wednesday, July 9th. They set a “buy” rating and a $220.00 price objective on the stock. UBS Group cut their price objective on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a report on Friday, September 5th. Needham & Company LLC restated a “buy” rating and set a $195.00 price objective on shares of Philip Morris International in a report on Wednesday, July 23rd. Finally, Barclays cut 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. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.44.

Philip Morris International Price Performance

Shares of PM opened at $160.51 on Friday. The company has a market capitalization of $249.85 billion, a price-to-earnings ratio of 30.52, a P/E/G ratio of 2.34 and a beta of 0.46. Philip Morris International Inc. has a fifty-two week low of $116.12 and a fifty-two week high of $186.69. The business’s 50-day moving average is $164.24 and its 200-day moving average is $168.77.

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

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 3rd will be issued a $1.47 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, October 3rd. Philip Morris International’s dividend payout ratio is currently 111.79%.

About Philip Morris International

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.