Beverly Hills Private Wealth LLC Lowers Stake in Philip Morris International Inc. $PM

Beverly Hills Private Wealth LLC decreased its position in Philip Morris International Inc. (NYSE:PM) by 11.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,297 shares of the company’s stock after selling 7,610 shares during the period. Philip Morris International comprises approximately 2.1% of Beverly Hills Private Wealth LLC’s portfolio, making the stock its 8th biggest holding. Beverly Hills Private Wealth LLC’s holdings in Philip Morris International were worth $10,982,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PM. Balboa Wealth Partners raised its stake in shares of Philip Morris International by 17.5% in the second quarter. Balboa Wealth Partners now owns 4,334 shares of the company’s stock valued at $789,000 after buying an additional 646 shares during the period. Swan Global Investments LLC increased its holdings in Philip Morris International by 16.5% in the 2nd quarter. Swan Global Investments LLC now owns 1,554 shares of the company’s stock worth $283,000 after acquiring an additional 220 shares during the last quarter. Uhlmann Price Securities LLC purchased a new stake in Philip Morris International in the 2nd quarter worth about $222,000. Forvis Mazars Wealth Advisors LLC raised its stake in Philip Morris International by 2.9% in the 2nd quarter. Forvis Mazars Wealth Advisors LLC now owns 12,755 shares of the company’s stock valued at $2,323,000 after acquiring an additional 354 shares during the period. Finally, Crux Wealth Advisors lifted its holdings in Philip Morris International by 37.6% during the second quarter. Crux Wealth Advisors now owns 14,589 shares of the company’s stock valued at $2,657,000 after purchasing an additional 3,990 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PM shares. Needham & Company LLC reiterated a “buy” rating and issued a $195.00 target price on shares of Philip Morris International in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Citigroup restated 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 report on Wednesday, July 9th. They issued a “buy” rating and a $220.00 price target for the company. Finally, Barclays reduced their price target on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $195.44.

Philip Morris International Price Performance

NYSE PM opened at $158.08 on Monday. The company’s 50 day simple moving average is $163.40 and its two-hundred day simple moving average is $168.86. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69. The stock has a market capitalization of $246.06 billion, a PE ratio of 30.05, a P/E/G ratio of 2.31 and a beta of 0.46.

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

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be paid a $1.47 dividend. The ex-dividend date is Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a yield of 3.7%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio is currently 111.79%.

Philip Morris International Profile

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.