Simplify Asset Management Inc. Sells 26,741 Shares of Philip Morris International Inc. $PM

Simplify Asset Management Inc. trimmed its stake in shares of Philip Morris International Inc. (NYSE:PM) by 95.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,310 shares of the company’s stock after selling 26,741 shares during the quarter. Simplify Asset Management Inc.’s holdings in Philip Morris International were worth $212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Wallington Asset Management LLC lifted its stake in Philip Morris International by 13.2% in the third quarter. Wallington Asset Management LLC now owns 1,291 shares of the company’s stock valued at $209,000 after buying an additional 151 shares during the period. Continuum Advisory LLC lifted its position in shares of Philip Morris International by 7.4% during the 3rd quarter. Continuum Advisory LLC now owns 9,518 shares of the company’s stock valued at $1,544,000 after acquiring an additional 659 shares during the period. Wealth Quarterback LLC boosted its stake in Philip Morris International by 4.5% during the third quarter. Wealth Quarterback LLC now owns 4,778 shares of the company’s stock worth $775,000 after acquiring an additional 207 shares in the last quarter. Albion Financial Group UT grew its holdings in Philip Morris International by 6,649.5% in the third quarter. Albion Financial Group UT now owns 6,412 shares of the company’s stock worth $1,040,000 after purchasing an additional 6,317 shares during the period. Finally, Oak Harvest Investment Services increased its stake in Philip Morris International by 1,280.6% in the third quarter. Oak Harvest Investment Services now owns 24,312 shares of the company’s stock valued at $3,943,000 after purchasing an additional 22,551 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Price Performance

PM opened at $161.99 on Wednesday. Philip Morris International Inc. has a one year low of $116.12 and a one year high of $186.69. The firm has a market capitalization of $252.17 billion, a P/E ratio of 29.35, a price-to-earnings-growth ratio of 1.94 and a beta of 0.42. The company has a fifty day moving average price of $154.43 and a 200-day moving average price of $163.35.

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. The business had revenue of $8.12 billion for the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. On average, analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, December 26th. This represents a $5.88 annualized dividend and a dividend yield of 3.6%. Philip Morris International’s dividend payout ratio (DPR) is presently 106.52%.

Analysts Set New Price Targets

A number of brokerages have commented on PM. Barclays reduced their price objective on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday, November 17th. Morgan Stanley set a $175.00 price target on shares of Philip Morris International and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, November 17th. Finally, 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 report on Wednesday, November 26th. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Philip Morris International has an average rating of “Moderate Buy” and an average target price 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.