Massachusetts Financial Services Co. MA Sells 121,029 Shares of Philip Morris International Inc. $PM

Massachusetts Financial Services Co. MA trimmed its position in shares of Philip Morris International Inc. (NYSE:PM) by 1.3% during the second quarter, HoldingsChannel reports. The firm owned 8,897,599 shares of the company’s stock after selling 121,029 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Philip Morris International were worth $1,620,520,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Legacy Investment Solutions LLC bought a new position in Philip Morris International during the second quarter worth about $25,000. Abound Wealth Management raised its position in shares of Philip Morris International by 566.7% during the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after purchasing an additional 136 shares during the period. Kelly Lawrence W & Associates Inc. CA bought a new position in shares of Philip Morris International during the 1st quarter valued at about $30,000. Briaud Financial Planning Inc grew its position in shares of Philip Morris International by 266.7% in the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock valued at $30,000 after purchasing an additional 120 shares during the period. Finally, CBIZ Investment Advisory Services LLC increased its stake in 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 purchasing an additional 162 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Up 0.1%

NYSE:PM opened at $155.35 on Friday. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69. The firm has a market capitalization of $241.83 billion, a price-to-earnings ratio of 28.14, a price-to-earnings-growth ratio of 2.25 and a beta of 0.43. The stock’s 50 day moving average price is $157.45 and its two-hundred day moving average price is $167.90.

Philip Morris International (NYSE:PM) last posted its quarterly 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 net margin of 9.33% and a negative return on equity of 122.14%. As a group, analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently announced 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. The ex-dividend date was Friday, October 3rd. This represents a $5.88 annualized dividend and a dividend yield of 3.8%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio is presently 106.52%.

Analyst Ratings Changes

Several research analysts have recently weighed in on PM shares. Barclays reduced their price target on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Wall Street Zen cut Philip Morris International from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. UBS Group cut their price target on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a report on Friday, September 5th. Stifel Nicolaus set a $180.00 price objective on Philip Morris International in a report on Tuesday, October 21st. Finally, Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. 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 stock presently has an average rating of “Moderate Buy” and an average target price of $194.00.

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.