Korea Investment CORP Sells 46,939 Shares of Philip Morris International Inc. $PM

Korea Investment CORP reduced its stake in Philip Morris International Inc. (NYSE:PM) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,196,133 shares of the company’s stock after selling 46,939 shares during the period. Korea Investment CORP owned 0.08% of Philip Morris International worth $217,852,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in Philip Morris International during the 2nd quarter valued at $25,000. Traub Capital Management LLC bought a new stake in shares of Philip Morris International in the second quarter valued at about $25,000. Abound Wealth Management raised its holdings in shares of Philip Morris International by 566.7% in the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after acquiring an additional 136 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA purchased a new stake in Philip Morris International in the first quarter worth about $30,000. Finally, Briaud Financial Planning Inc grew its holdings in Philip Morris International by 266.7% during the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after acquiring an additional 120 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Trading Down 0.5%

NYSE:PM opened at $156.66 on Thursday. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69. The company has a market cap of $243.87 billion, a PE ratio of 28.38, a P/E/G ratio of 1.86 and a beta of 0.43. The company’s 50 day moving average is $155.90 and its two-hundred day moving average is $166.93.

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

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were issued a $1.47 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, October 3rd. Philip Morris International’s dividend payout ratio is currently 106.52%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Citigroup restated a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. KGI Securities began coverage on Philip Morris International in a report on Monday, August 4th. They set an “outperform” rating for the company. Wall Street Zen upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, November 17th. Stifel Nicolaus set a $180.00 price target on Philip Morris International in a research report on Tuesday, October 21st. Finally, Barclays dropped their price objective on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a research report on Monday, November 17th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $189.00.

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.