Charles Schwab Investment Management Inc. Sells 208,580 Shares of Philip Morris International Inc. $PM

Charles Schwab Investment Management Inc. cut its holdings in Philip Morris International Inc. (NYSE:PM) by 1.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,193,482 shares of the company’s stock after selling 208,580 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Philip Morris International were worth $2,403,145,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Philip Morris International by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 142,857,055 shares of the company’s stock valued at $26,018,555,000 after purchasing an additional 2,235,380 shares during the period. Geode Capital Management LLC grew its position in Philip Morris International by 1.8% during the second quarter. Geode Capital Management LLC now owns 37,181,107 shares of the company’s stock valued at $6,760,346,000 after buying an additional 672,983 shares during the period. Wellington Management Group LLP grew its position in Philip Morris International by 26.4% during the first quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock valued at $3,466,730,000 after buying an additional 4,563,632 shares during the period. WCM Investment Management LLC increased its holdings 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 worth $2,041,223,000 after buying an additional 11,230,626 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Philip Morris International in the first quarter valued at about $1,712,994,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Price Performance

Philip Morris International stock opened at $155.24 on Friday. The firm has a market capitalization of $241.65 billion, a P/E ratio of 28.12, a PEG ratio of 1.83 and a beta of 0.43. Philip Morris International Inc. has a one year low of $116.12 and a one year high of $186.69. The business has a fifty day moving average price of $156.42 and a 200-day moving average price of $167.29.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The business had revenue of $8.12 billion for the quarter. Sell-side analysts expect 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 disclosed a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were paid a dividend of $1.47 per share. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Friday, October 3rd. Philip Morris International’s dividend payout ratio is presently 106.52%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports 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 report on Thursday, September 4th. Morgan Stanley set a $175.00 target price on Philip Morris International and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus set a $180.00 price objective on Philip Morris International in a research note on Tuesday, October 21st. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $189.56.

Philip Morris International 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.