Ritholtz Wealth Management Decreases Stake in Philip Morris International Inc. $PM

Ritholtz Wealth Management trimmed its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 12.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 71,008 shares of the company’s stock after selling 9,985 shares during the quarter. Ritholtz Wealth Management’s holdings in Philip Morris International were worth $11,518,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PM. PFS Partners LLC increased its holdings in Philip Morris International by 24.8% during the 2nd quarter. PFS Partners LLC now owns 292 shares of the company’s stock worth $53,000 after purchasing an additional 58 shares during the last quarter. Uncommon Cents Investing LLC grew its position in shares of Philip Morris International by 1.1% during the second quarter. Uncommon Cents Investing LLC now owns 5,666 shares of the company’s stock worth $1,032,000 after buying an additional 61 shares in the last quarter. Second Line Capital LLC increased its stake in shares of Philip Morris International by 4.8% in the second quarter. Second Line Capital LLC now owns 1,338 shares of the company’s stock worth $245,000 after buying an additional 61 shares during the last quarter. Cranbrook Wealth Management LLC raised its holdings in Philip Morris International by 6.5% in the second quarter. Cranbrook Wealth Management LLC now owns 1,014 shares of the company’s stock valued at $185,000 after acquiring an additional 62 shares in the last quarter. Finally, Meridian Wealth Partners LLC increased its position in shares of Philip Morris International by 3.1% in the 2nd quarter. Meridian Wealth Partners LLC now owns 2,060 shares of the company’s stock worth $375,000 after purchasing an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

NYSE:PM opened at $172.69 on Friday. The firm has a market capitalization of $268.82 billion, a P/E ratio of 31.28, a P/E/G ratio of 1.84 and a beta of 0.40. The business has a 50 day simple moving average of $157.31 and a 200 day simple moving average of $161.93. Philip Morris International Inc. has a 12-month low of $118.31 and a 12-month high of $186.69.

Philip Morris International (NYSE:PM) last issued its earnings results on Friday, October 24th. The company reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.14. The firm had revenue of $10.85 billion for the quarter, compared to analyst estimates of $10.67 billion. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the company earned $1.91 earnings per share. Research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th were given a $1.47 dividend. The ex-dividend date was Friday, December 26th. This represents a $5.88 annualized dividend and a yield of 3.4%. Philip Morris International’s dividend payout ratio is 106.52%.

Analyst Ratings Changes

Several brokerages have recently commented on PM. Wall Street Zen cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Morgan Stanley set a $175.00 price objective on Philip Morris International and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Stifel Nicolaus set a $180.00 target price on Philip Morris International in a research report on Tuesday, October 21st. JPMorgan Chase & Co. dropped their price target on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 26th. Finally, Barclays reduced their price objective on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a research note on Monday, November 17th. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Philip Morris International presently has an average rating of “Moderate Buy” and an average price target of $189.00.

Philip Morris International Company 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.