Rathbones Group PLC Sells 2,400 Shares of Philip Morris International Inc. $PM

Rathbones Group PLC decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 6.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,884 shares of the company’s stock after selling 2,400 shares during the period. Rathbones Group PLC’s holdings in Philip Morris International were worth $6,536,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PM. Brighton Jones LLC boosted its stake in Philip Morris International by 31.1% in the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock worth $1,027,000 after buying an additional 2,023 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of Philip Morris International by 4.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock worth $252,000 after acquiring an additional 91 shares during the last quarter. Capstone Wealth Management Group LLC bought a new stake in shares of Philip Morris International in the 1st quarter worth approximately $238,000. Ballentine Partners LLC boosted its stake in shares of Philip Morris International by 8.6% in the 1st quarter. Ballentine Partners LLC now owns 18,538 shares of the company’s stock valued at $2,943,000 after purchasing an additional 1,470 shares in the last quarter. Finally, Financial Security Advisor Inc. grew its holdings in shares of Philip Morris International by 0.6% during the 1st quarter. Financial Security Advisor Inc. now owns 20,766 shares of the company’s stock valued at $3,324,000 after purchasing an additional 131 shares during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a research note on Thursday, September 4th. KGI Securities initiated coverage on Philip Morris International in a research note on Monday, August 4th. They issued an “outperform” rating for the company. Morgan Stanley set a $175.00 target price on Philip Morris International and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Finally, Stifel Nicolaus set a $180.00 price target on Philip Morris International in a research report 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, Philip Morris International currently has an average rating of “Moderate Buy” and an average price target of $194.00.

Philip Morris International Stock Up 2.2%

NYSE:PM opened at $153.26 on Monday. The firm’s fifty day simple moving average is $158.30 and its 200 day simple moving average is $168.38. The stock has a market cap of $238.58 billion, a P/E ratio of 27.77, a price-to-earnings-growth ratio of 2.22 and a beta of 0.43. 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 announced its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. The firm had revenue of $8.12 billion for the quarter. On average, analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Friday, October 3rd were issued a dividend of $1.47 per share. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date was Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.8%. Philip Morris International’s dividend payout ratio (DPR) is currently 106.52%.

About Philip Morris International

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.