Philip Morris International Inc. $PM Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC reduced its stake in Philip Morris International Inc. (NYSE:PM) by 11.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,662 shares of the company’s stock after selling 3,578 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Philip Morris International were worth $5,469,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vermillion Wealth Management Inc. boosted its position in shares of Philip Morris International by 146.5% during the 1st quarter. Vermillion Wealth Management Inc. now owns 175 shares of the company’s stock valued at $29,000 after acquiring an additional 104 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Philip Morris International during the second quarter worth about $29,000. Cedar Mountain Advisors LLC raised its position in shares of Philip Morris International by 60.2% during the 1st quarter. Cedar Mountain Advisors LLC now owns 189 shares of the company’s stock valued at $31,000 after buying an additional 71 shares during the period. Wilkerson Advisory Group LLC increased its stake in Philip Morris International by 109.2% during the first quarter. Wilkerson Advisory Group LLC now owns 205 shares of the company’s stock worth $34,000 after acquiring an additional 107 shares during the last quarter. Finally, Kelly Lawrence W & Associates Inc. CA purchased a new stake in Philip Morris International in the second quarter valued at $34,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on PM. Stifel Nicolaus upped their target price on shares of Philip Morris International from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. UBS Group lifted their price target on shares of Philip Morris International from $182.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, September 23rd. BTIG Research set a $221.00 price target on shares of Philip Morris International and gave the company a “buy” rating in a research report on Friday, July 24th. Morgan Stanley boosted their price target on shares of Philip Morris International from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Finally, Citigroup upped their price objective on shares of Philip Morris International from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Philip Morris International presently has a consensus rating of “Moderate Buy” and an average target price of $207.00.

Philip Morris International Trading Down 0.6%

PM stock opened at $199.92 on Wednesday. Philip Morris International Inc. has a twelve month low of $142.11 and a twelve month high of $210.45. The company has a market capitalization of $311.60 billion, a P/E ratio of 24.82, a PEG ratio of 2.58 and a beta of 0.34. The business has a 50 day simple moving average of $191.76 and a 200-day simple moving average of $183.18.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.15. Philip Morris International had a negative return on equity of 163.41% and a net margin of 11.06%. The firm had revenue of $11.19 billion for the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter in the previous year, the firm posted $1.89 EPS. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. Research analysts predict that Philip Morris International Inc. will post 8.38 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Friday, October 2nd will be paid a $1.60 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $6.40 annualized dividend and a yield of 3.2%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.47. Philip Morris International’s dividend payout ratio is presently 91.95%.

About Philip Morris International

Philip Morris International Inc (NYSE:PM) is a global tobacco and nicotine company headquartered in Stamford, Connecticut. It was established as an independent company in 2008 following the separation of Philip Morris International from Altria Group. The company develops, manufactures and markets tobacco, nicotine and other related consumer products primarily outside the United States.

Its portfolio includes internationally recognized cigarette brands such as Marlboro, Parliament, L&M, Chesterfield and Bond Street.