Philip Morris International Inc. $PM Stake Reduced by NorthRock Partners LLC

NorthRock Partners LLC reduced its stake in shares of Philip Morris International Inc. (NYSE:PM) by 6.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 193,145 shares of the company’s stock after selling 13,481 shares during the period. Philip Morris International makes up about 0.9% of NorthRock Partners LLC’s holdings, making the stock its 22nd largest holding. NorthRock Partners LLC’s holdings in Philip Morris International were worth $35,438,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Abound Wealth Management grew its stake in Philip Morris International by 566.7% during the 2nd quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after buying an additional 136 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA acquired a new position in Philip Morris International during the 1st quarter worth $30,000. CBIZ Investment Advisory Services LLC boosted its position 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 worth $32,000 after acquiring an additional 162 shares during the period. Clal Insurance Enterprises Holdings Ltd acquired a new position in Philip Morris International during the 1st quarter worth $34,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Philip Morris International during the 1st quarter worth $35,000. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Price Performance

Shares of PM stock opened at $160.51 on Monday. Philip Morris International Inc. has a fifty-two week low of $116.12 and a fifty-two week high of $186.69. The stock’s 50-day moving average is $164.24 and its two-hundred day moving average is $168.87. The firm has a market cap of $249.85 billion, a P/E ratio of 30.52, a PEG ratio of 2.34 and a beta of 0.46.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The business 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 expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

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

Analysts Set New Price Targets

PM has been the subject of a number of analyst reports. UBS Group reduced their price target on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research report on Friday, September 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 target price on shares of Philip Morris International in a report on Wednesday, July 23rd. JPMorgan Chase & Co. upped their target price on Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Finally, Wall Street Zen downgraded Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average 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.