Code Waechter LLC Sells 356 Shares of Philip Morris International Inc. $PM

Code Waechter LLC trimmed its position in Philip Morris International Inc. (NYSE:PM) by 15.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,895 shares of the company’s stock after selling 356 shares during the quarter. Code Waechter LLC’s holdings in Philip Morris International were worth $345,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Abound Wealth Management increased its holdings in shares of Philip Morris International by 566.7% in the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after purchasing an additional 136 shares during the last quarter. Briaud Financial Planning Inc increased its holdings in shares of Philip Morris International by 266.7% in the second quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after purchasing an additional 120 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new stake in shares of Philip Morris International in the first quarter worth about $30,000. CBIZ Investment Advisory Services LLC increased its holdings in shares of Philip Morris International by 405.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock worth $32,000 after purchasing an additional 162 shares during the last quarter. Finally, Solstein Capital LLC bought a new stake in Philip Morris International during the second quarter worth approximately $37,000. 78.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PM has been the topic of several analyst reports. Morgan Stanley set a $175.00 price objective on Philip Morris International and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Citigroup reissued a “buy” rating on shares of Philip Morris International in a research note on Thursday, September 4th. Stifel Nicolaus set a $180.00 price objective on Philip Morris International in a research note on Tuesday, October 21st. The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Finally, Barclays reduced their price objective on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $194.00.

Philip Morris International Stock Performance

PM opened at $144.58 on Tuesday. The stock has a market cap of $225.06 billion, a price-to-earnings ratio of 26.19, a P/E/G ratio of 2.09 and a beta of 0.43. The stock’s 50 day moving average price is $159.59 and its 200-day moving average price is $168.79. Philip Morris International Inc. has a one year low of $116.12 and a one year high of $186.69.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The firm had revenue of $8.12 billion for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%. As a group, analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were paid a dividend of $1.47 per share. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, October 3rd. Philip Morris International’s payout ratio is currently 106.52%.

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.