Philip Morris International Inc. $PM Shares Sold by Wrapmanager Inc.

Wrapmanager Inc. reduced its position in Philip Morris International Inc. (NYSE:PM) by 28.1% in the 2nd quarter, Holdings Channel reports. The fund owned 8,064 shares of the company’s stock after selling 3,157 shares during the period. Wrapmanager Inc.’s holdings in Philip Morris International were worth $1,469,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC increased its stake in shares of Philip Morris International by 31.1% during the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock valued at $1,027,000 after acquiring an additional 2,023 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in shares of Philip Morris International by 4.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock worth $252,000 after acquiring an additional 91 shares during the last quarter. Capstone Wealth Management Group LLC purchased a new stake in Philip Morris International in the first quarter valued at approximately $238,000. Parcion Private Wealth LLC increased its position in Philip Morris International by 40.9% during the first quarter. Parcion Private Wealth LLC now owns 3,988 shares of the company’s stock worth $633,000 after purchasing an additional 1,158 shares during the last quarter. Finally, Cable Hill Partners LLC purchased a new position in Philip Morris International during the first quarter worth approximately $258,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PM. Barclays lowered their price objective on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Wall Street Zen cut Philip Morris International from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Morgan Stanley set a $175.00 price target on Philip Morris International and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Needham & Company LLC restated a “buy” rating and set a $195.00 price target on shares of Philip Morris International in a research note on Wednesday, July 23rd. Finally, Citigroup restated a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Philip Morris International has an average rating of “Moderate Buy” and an average target price of $194.00.

Philip Morris International Trading Down 0.3%

NYSE:PM opened at $155.12 on Friday. The firm’s fifty day simple moving average is $157.58 and its 200 day simple moving average is $168.00. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69. The firm has a market capitalization of $241.47 billion, a price-to-earnings ratio of 28.10, a PEG ratio of 2.25 and a beta of 0.43.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (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 122.14% and a net margin of 9.33%. On average, analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Increases Dividend

The business 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. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $5.88 annualized dividend and a yield of 3.8%. Philip Morris International’s dividend payout ratio is presently 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.