Aberdeen Group plc Cuts Stock Holdings in Philip Morris International Inc. $PM

Aberdeen Group plc decreased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 0.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 788,393 shares of the company’s stock after selling 1,070 shares during the period. Aberdeen Group plc owned about 0.05% of Philip Morris International worth $143,129,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Philip Morris International by 0.9% during the first quarter. Vanguard Group Inc. now owns 140,621,675 shares of the company’s stock valued at $22,320,878,000 after buying an additional 1,189,283 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Philip Morris International by 26.4% during the first quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock valued at $3,466,730,000 after buying an additional 4,563,632 shares during the last quarter. Nuveen LLC purchased a new position in Philip Morris International in the first quarter worth $1,712,994,000. Goldman Sachs Group Inc. boosted its position in Philip Morris International by 57.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company’s stock worth $1,554,686,000 after purchasing an additional 3,575,158 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Philip Morris International by 22.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,018,628 shares of the company’s stock worth $1,431,527,000 after purchasing an additional 1,635,636 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

Shares of PM opened at $160.51 on Friday. The firm has a market cap of $249.85 billion, a PE ratio of 30.52, a PEG ratio of 2.29 and a beta of 0.46. The stock’s fifty day moving average price is $164.24 and its two-hundred day moving average price is $168.67. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. The firm had revenue of $8.12 billion for the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. Sell-side analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 3rd will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio is presently 111.79%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Citigroup reissued a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Jefferies Financial Group assumed coverage on Philip Morris International in a research report on Wednesday, July 9th. They issued a “buy” rating and a $220.00 price objective on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday. Barclays cut their price objective on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. Finally, Wall Street Zen cut Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $195.44.

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.