Summit X LLC Cuts Position in Philip Morris International Inc. $PM

Summit X LLC trimmed its position in shares of Philip Morris International Inc. (NYSE:PM) by 42.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,607 shares of the company’s stock after selling 1,945 shares during the period. Summit X LLC’s holdings in Philip Morris International were worth $475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of PM. Linscomb Wealth Inc. raised its position in shares of Philip Morris International by 3.3% during the 1st quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company’s stock valued at $13,207,000 after buying an additional 2,669 shares in the last quarter. Mackenzie Financial Corp increased its stake in Philip Morris International by 7.3% during the first quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company’s stock worth $568,873,000 after acquiring an additional 242,799 shares during the last quarter. First American Trust FSB raised its position in Philip Morris International by 80.0% during the first quarter. First American Trust FSB now owns 56,382 shares of the company’s stock valued at $8,949,000 after purchasing an additional 25,063 shares during the period. SpringVest Wealth Management LLC purchased a new stake in Philip Morris International during the 1st quarter valued at $253,000. Finally, SFE Investment Counsel purchased a new position in Philip Morris International during the first quarter worth $327,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Trading Up 2.2%

PM opened at $153.26 on Monday. The company has a market capitalization of $238.58 billion, a price-to-earnings ratio of 27.77, a PEG ratio of 2.22 and a beta of 0.43. Philip Morris International Inc. has a 12-month low of $116.12 and a 12-month high of $186.69. The business’s fifty day simple moving average is $158.30 and its 200-day simple moving average is $168.38.

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

Philip Morris International Increases Dividend

The firm also recently disclosed 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 boost 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 3.8%. The ex-dividend date was Friday, October 3rd. Philip Morris International’s payout ratio is 106.52%.

Analyst Ratings Changes

Several research firms have recently issued reports on PM. Citigroup restated a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. UBS Group dropped their target price 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. KGI Securities initiated coverage on Philip Morris International in a report on Monday, August 4th. They issued an “outperform” rating on the stock. Morgan Stanley set a $175.00 price objective on Philip Morris International and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $194.00.

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.