Folger Nolan Fleming Douglas Capital Management Inc. Trims Stock Position in Philip Morris International Inc. $PM

Folger Nolan Fleming Douglas Capital Management Inc. cut its stake in shares of Philip Morris International Inc. (NYSE:PM) by 10.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,680 shares of the company’s stock after selling 425 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Philip Morris International were worth $670,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Abound Wealth Management raised its stake in shares of Philip Morris International by 566.7% during the 2nd quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after buying an additional 136 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA purchased a new position in shares of Philip Morris International during the 1st quarter worth approximately $30,000. CBIZ Investment Advisory Services LLC raised its stake in shares of Philip Morris International by 405.0% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock worth $32,000 after buying an additional 162 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Philip Morris International during the 1st quarter worth approximately $34,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of Philip Morris International during the 1st quarter worth approximately $35,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Price Performance

NYSE PM opened at $160.51 on Friday. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69. The company has a market capitalization of $249.85 billion, a P/E ratio of 30.52, a PEG ratio of 2.29 and a beta of 0.46. The business has a 50 day moving average price of $164.24 and a 200 day moving average price of $168.67.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. The firm had revenue of $8.12 billion during the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. On average, research analysts expect 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 declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 annualized dividend and a yield of 3.7%. Philip Morris International’s dividend payout ratio (DPR) is 111.79%.

Analysts Set New Price Targets

PM has been the subject of a number of analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday. Wall Street Zen downgraded Philip Morris International from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. UBS Group cut their target price on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research note on Friday, September 5th. Jefferies Financial Group began coverage on Philip Morris International in a research note on Wednesday, July 9th. They set a “buy” rating and a $220.00 target price for the company. Finally, Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a research note on Thursday, September 4th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $195.44.

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.