Primoris Wealth Advisors LLC Lowers Holdings in Philip Morris International Inc. $PM

Primoris Wealth Advisors LLC trimmed its holdings in Philip Morris International Inc. (NYSE:PM) by 14.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,713 shares of the company’s stock after selling 3,100 shares during the quarter. Philip Morris International accounts for approximately 1.8% of Primoris Wealth Advisors LLC’s investment portfolio, making the stock its 17th biggest holding. Primoris Wealth Advisors LLC’s holdings in Philip Morris International were worth $2,873,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in shares of Philip Morris International in the second quarter worth about $25,000. Traub Capital Management LLC purchased a new position in Philip Morris International during the second quarter valued at approximately $25,000. Marquette Asset Management LLC lifted its holdings in Philip Morris International by 1,677.8% in the third quarter. Marquette Asset Management LLC now owns 160 shares of the company’s stock valued at $26,000 after acquiring an additional 151 shares during the period. Abound Wealth Management boosted its position in Philip Morris International by 566.7% in the 2nd quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after purchasing an additional 136 shares in the last quarter. Finally, Briaud Financial Planning Inc grew its stake in shares of Philip Morris International by 266.7% during the 2nd 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 period. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Stock Up 1.6%

PM opened at $165.22 on Tuesday. The firm’s fifty day simple moving average is $156.05 and its two-hundred day simple moving average is $161.90. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69. The company has a market cap of $257.19 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 1.75 and a beta of 0.40.

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

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 14th. Investors of record on Friday, December 26th will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, December 26th. Philip Morris International’s dividend payout ratio is currently 106.52%.

Analysts Set New Price Targets

PM has been the subject of several recent research reports. Barclays cut their target price on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a report on Monday, November 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. JPMorgan Chase & Co. lowered their target price on shares of Philip Morris International from $190.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Finally, Wall Street Zen lowered Philip Morris International from a “buy” rating to a “hold” rating in a research note on Saturday. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $189.00.

Philip Morris International Profile

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.