CMG Global Holdings LLC Sells 108 Shares of Philip Morris International Inc. $PM

CMG Global Holdings LLC reduced its position in shares of Philip Morris International Inc. (NYSE:PM) by 2.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 5,114 shares of the company’s stock after selling 108 shares during the quarter. CMG Global Holdings LLC’s holdings in Philip Morris International were worth $931,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. WCM Investment Management LLC boosted its position in shares of Philip Morris International by 24,968.0% in the second quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock valued at $2,041,223,000 after acquiring an additional 11,230,626 shares during the period. Nuveen LLC acquired a new stake in Philip Morris International in the 1st quarter worth about $1,712,994,000. Wellington Management Group LLP boosted its holdings 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 valued at $3,466,730,000 after purchasing an additional 4,563,632 shares during the period. Goldman Sachs Group Inc. grew its position in shares of 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 purchasing an additional 3,575,158 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of 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 purchasing an additional 1,635,636 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on PM. JPMorgan Chase & Co. boosted their price target on Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Needham & Company LLC restated a “buy” rating and issued a $195.00 price target on shares of Philip Morris International in a research report on Wednesday, July 23rd. UBS Group cut their price objective on shares of 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. Finally, Barclays decreased their target price on shares of 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 assigned a Hold rating to the company. According to data from MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and a consensus price target of $195.44.

Philip Morris International Stock Up 1.3%

Shares of PM stock opened at $158.08 on Monday. The business has a fifty day simple moving average of $163.40 and a 200 day simple moving average of $168.86. The company has a market cap of $246.06 billion, a P/E ratio of 30.05, a P/E/G ratio of 2.31 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 issued its earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The firm 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%. As a group, equities research analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 3rd will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, October 3rd. 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%.

Philip Morris International 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.