Investment Management Associates Inc. ADV Sells 485 Shares of Philip Morris International Inc. $PM

Investment Management Associates Inc. ADV reduced its position in Philip Morris International Inc. (NYSE:PM) by 0.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 123,982 shares of the company’s stock after selling 485 shares during the quarter. Philip Morris International makes up approximately 7.6% of Investment Management Associates Inc. ADV’s investment portfolio, making the stock its 5th biggest position. Investment Management Associates Inc. ADV’s holdings in Philip Morris International were worth $22,581,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PM. WCM Investment Management LLC lifted its position in Philip Morris International by 24,968.0% during 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 buying an additional 11,230,626 shares in the last quarter. Nuveen LLC acquired a new position in shares of Philip Morris International during the 1st quarter valued at $1,712,994,000. Wellington Management Group LLP lifted its holdings in shares of Philip Morris International by 26.4% during 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 acquiring an additional 4,563,632 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings 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 valued at $1,554,686,000 after acquiring an additional 3,575,158 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings 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 valued at $1,431,527,000 after acquiring an additional 1,635,636 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on PM shares. The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Citigroup reissued a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Stifel Nicolaus set a $180.00 price target on Philip Morris International in a research report on Tuesday, October 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $195.00 target price on shares of Philip Morris International in a research report on Wednesday, July 23rd. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and an average price target of $194.00.

Philip Morris International Price Performance

PM opened at $146.58 on Thursday. The stock has a market capitalization of $228.17 billion, a PE ratio of 26.55, a P/E/G ratio of 2.17 and a beta of 0.46. The firm’s fifty day moving average price is $161.17 and its 200 day moving average price is $169.05. Philip Morris International Inc. has a 12-month low of $116.12 and a 12-month high of $186.69.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. The business had revenue of $8.12 billion for the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. On average, equities research analysts forecast 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 declared a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were given a dividend of $1.47 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $5.88 annualized dividend and a dividend yield of 4.0%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio is currently 106.52%.

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.