Searle & CO. Sells 3,400 Shares of Philip Morris International Inc. $PM

Searle & CO. reduced its position in shares of Philip Morris International Inc. (NYSE:PM) by 6.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 53,001 shares of the company’s stock after selling 3,400 shares during the quarter. Philip Morris International comprises 2.4% of Searle & CO.’s portfolio, making the stock its 11th largest holding. Searle & CO.’s holdings in Philip Morris International were worth $10,114,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Financial Network Wealth Advisors LLC grew its holdings in Philip Morris International by 9.9% during the third quarter. Financial Network Wealth Advisors LLC now owns 620 shares of the company’s stock worth $118,000 after acquiring an additional 56 shares during the period. Hughes Financial Services LLC raised its position in Philip Morris International by 8.4% in the third quarter. Hughes Financial Services LLC now owns 719 shares of the company’s stock worth $150,000 after acquiring an additional 56 shares in the last quarter. Platt Wealth Management LLC lifted its holdings in Philip Morris International by 2.1% in the 2nd quarter. Platt Wealth Management LLC now owns 2,833 shares of the company’s stock valued at $512,000 after acquiring an additional 58 shares during the last quarter. Security Financial Services INC. lifted its holdings in Philip Morris International by 2.2% in the 3rd quarter. Security Financial Services INC. now owns 2,978 shares of the company’s stock valued at $568,000 after acquiring an additional 64 shares during the last quarter. Finally, Shepherd Financial Partners LLC boosted its position in shares of Philip Morris International by 4.9% during the 3rd quarter. Shepherd Financial Partners LLC now owns 1,365 shares of the company’s stock valued at $260,000 after purchasing an additional 64 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Price Performance

Shares of PM opened at $194.31 on Wednesday. The company has a 50-day moving average of $195.73 and a two-hundred day moving average of $183.05. The stock has a market cap of $302.86 billion, a price-to-earnings ratio of 28.37, a PEG ratio of 2.59 and a beta of 0.34. Philip Morris International Inc. has a one year low of $146.35 and a one year high of $214.35.

Philip Morris International (NYSE:PM) last issued its earnings results on Wednesday, October 21st. The company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.30 by $0.06. Philip Morris International had a negative return on equity of 183.96% and a net margin of 10.73%. The business had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $11.32 billion. During the same quarter last year, the firm posted $2.24 earnings per share. Philip Morris International’s revenue was up 5.5% compared to the same quarter last year. Analysts anticipate that Philip Morris International Inc. will post 8.32 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Friday, October 2nd were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Friday, October 2nd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.47. Philip Morris International’s payout ratio is presently 93.43%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Philip Morris International from $205.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Needham & Company LLC increased their target price on shares of Philip Morris International from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, October 22nd. Weiss Ratings upgraded shares of Philip Morris International from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, November 4th. JPMorgan Chase & Co. assumed coverage on shares of Philip Morris International in a research report on Tuesday. They issued a “neutral” rating and a $200.00 price target on the stock. Finally, UBS Group lifted their price target on shares of Philip Morris International from $193.00 to $201.00 and gave the stock a “neutral” rating in a research report on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $213.90.

Philip Morris International Company Profile

Philip Morris International is a global tobacco and nicotine company that develops, manufactures and sells cigarettes and smoke-free products. Its cigarette brands include Marlboro in markets outside the United States, along with other regional and international brands. The company’s smoke-free portfolio includes IQOS heated tobacco products, ZYN nicotine pouches and VEEV e-vapor products. Philip Morris International sells its products in markets around the world, with availability varying by country and subject to local regulations.