Philip Morris International Inc. $PM Shares Sold by ProVise Management Group LLC

ProVise Management Group LLC lessened its position in Philip Morris International Inc. (NYSE:PM) by 2.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 143,084 shares of the company’s stock after selling 3,885 shares during the period. Philip Morris International makes up 2.1% of ProVise Management Group LLC’s investment portfolio, making the stock its 14th largest holding. ProVise Management Group LLC’s holdings in Philip Morris International were worth $26,060,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PM. WCM Investment Management LLC lifted its position in 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 purchasing an additional 11,230,626 shares during the period. Nuveen LLC acquired a new position in Philip Morris International during the 1st quarter worth approximately $1,712,994,000. Wellington Management Group LLP raised its stake 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 worth $3,466,730,000 after buying 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% in 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 buying an additional 3,575,158 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Philip Morris International by 111.1% in the first quarter. AQR Capital Management LLC now owns 3,002,216 shares of the company’s stock valued at $473,660,000 after buying an additional 1,580,368 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Trading Up 0.1%

NYSE:PM opened at $155.35 on Friday. The company has a market capitalization of $241.83 billion, a P/E ratio of 28.14, a price-to-earnings-growth ratio of 2.25 and a beta of 0.43. The firm has a 50-day moving average price of $157.45 and a two-hundred day moving average price of $167.90. 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 released its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. The business had revenue of $8.12 billion for the quarter. On average, equities research 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. Shareholders 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 is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 annualized dividend and a yield of 3.8%. Philip Morris International’s dividend payout ratio (DPR) is 106.52%.

Wall Street Analysts Forecast Growth

PM has been the subject of several research analyst reports. The Goldman Sachs Group reiterated a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Morgan Stanley set a $175.00 price target on shares of Philip Morris International and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Wall Street Zen downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. Finally, Barclays decreased their price target 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 assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.