Harbour Trust & Investment Management Co Sells 100 Shares of Philip Morris International Inc. $PM

Harbour Trust & Investment Management Co lessened its position in Philip Morris International Inc. (NYSE:PM) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,451 shares of the company’s stock after selling 100 shares during the period. Harbour Trust & Investment Management Co’s holdings in Philip Morris International were worth $993,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PM. Nuveen LLC bought a new position in shares of Philip Morris International in the first quarter worth approximately $1,712,994,000. Wellington Management Group LLP lifted its position in Philip Morris International by 26.4% during the first 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. lifted its position in Philip Morris International by 57.5% during the first 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 lifted its position in Philip Morris International by 22.2% during the first 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 lifted its position in Philip Morris International by 111.1% during the first 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 own 78.63% of the company’s stock.

Philip Morris International Trading Down 0.7%

Shares of PM stock opened at $159.31 on Tuesday. 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 cap of $247.99 billion, a P/E ratio of 30.29, a P/E/G ratio of 2.34 and a beta of 0.46. The company has a 50 day simple moving average of $164.17 and a two-hundred day simple moving average of $168.90.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The business had revenue of $8.12 billion during the quarter. As a group, equities analysts forecast 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 announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be issued a dividend of $1.47 per share. 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 of this dividend is Friday, October 3rd. Philip Morris International’s dividend payout ratio is currently 111.79%.

Analyst Ratings Changes

PM has been the topic of a number of research analyst reports. Barclays lowered their price objective on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. Needham & Company LLC restated a “buy” rating and set a $195.00 price objective on shares of Philip Morris International in a research report on Wednesday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Jefferies Financial Group initiated coverage on shares of Philip Morris International in a research report on Wednesday, July 9th. They set a “buy” rating and a $220.00 price objective on the stock. Finally, Citigroup restated a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Eleven 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $195.44.

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.