Ellis Investment Partners LLC Trims Stake in Philip Morris International Inc. $PM

Ellis Investment Partners LLC decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 2.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,099 shares of the company’s stock after selling 161 shares during the period. Ellis Investment Partners LLC’s holdings in Philip Morris International were worth $1,111,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Abound Wealth Management boosted its holdings in Philip Morris International by 566.7% during the 2nd quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after acquiring an additional 136 shares during the period. Kelly Lawrence W & Associates Inc. CA purchased a new position in Philip Morris International during the 1st quarter valued at about $30,000. CBIZ Investment Advisory Services LLC boosted its holdings in Philip Morris International by 405.0% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock valued at $32,000 after acquiring an additional 162 shares during the period. Clal Insurance Enterprises Holdings Ltd purchased a new position in Philip Morris International during the 1st quarter valued at about $34,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Philip Morris International during the 1st quarter valued at about $35,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PM has been the subject of a number of research analyst reports. UBS Group lowered their target price on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a report on Friday, September 5th. Citigroup reissued a “buy” rating on shares of Philip Morris International in a research note on Thursday, September 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Barclays lowered their target price on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Finally, Needham & Company LLC reissued a “buy” rating and set a $195.00 target price on shares of Philip Morris International in a research note on Wednesday, July 23rd. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $195.44.

Philip Morris International Price Performance

PM opened at $160.51 on Monday. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69. The stock has a market capitalization of $249.85 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 2.34 and a beta of 0.46. The business has a fifty day moving average price of $164.24 and a 200 day moving average price of $168.87.

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

Philip Morris International Increases Dividend

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

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.