Beacon Harbor Wealth Advisors Inc. Reduces Stake in Philip Morris International Inc. $PM

Beacon Harbor Wealth Advisors Inc. lowered its position in Philip Morris International Inc. (NYSE:PM) by 31.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,077 shares of the company’s stock after selling 10,783 shares during the period. Beacon Harbor Wealth Advisors Inc.’s holdings in Philip Morris International were worth $4,203,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PM. Linscomb Wealth Inc. raised its holdings in Philip Morris International by 3.3% during the 1st quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company’s stock valued at $13,207,000 after buying an additional 2,669 shares during the period. Mackenzie Financial Corp boosted its stake in Philip Morris International by 7.3% during the first quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company’s stock worth $568,873,000 after buying an additional 242,799 shares during the period. First American Trust FSB increased its position in Philip Morris International by 80.0% during the first quarter. First American Trust FSB now owns 56,382 shares of the company’s stock valued at $8,949,000 after acquiring an additional 25,063 shares during the last quarter. SpringVest Wealth Management LLC purchased a new stake in shares of Philip Morris International in the first quarter valued at $253,000. Finally, SFE Investment Counsel bought a new stake in shares of Philip Morris International in the 1st quarter worth about $327,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on PM shares. The Goldman Sachs Group reiterated a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Needham & Company LLC restated a “buy” rating and set a $195.00 target price on shares of Philip Morris International in a research report on Wednesday, July 23rd. Barclays cut their target price on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th. Stifel Nicolaus set a $180.00 price target on Philip Morris International in a research note on Tuesday, October 21st. Finally, KGI Securities assumed coverage on Philip Morris International in a report on Monday, August 4th. They set an “outperform” rating for the company. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $194.00.

Philip Morris International Stock Performance

Shares of NYSE:PM opened at $155.35 on Friday. The firm’s 50 day simple moving average is $157.45 and its 200-day simple moving average is $167.90. 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 cap of $241.83 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 2.25 and a beta of 0.43.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. The company had revenue of $8.12 billion for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%. Equities research analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were paid a dividend of $1.47 per share. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Friday, October 3rd. Philip Morris International’s payout ratio is 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.