McKinley Carter Wealth Services Inc. Sells 72 Shares of Philip Morris International Inc. $PM

McKinley Carter Wealth Services Inc. cut its stake in Philip Morris International Inc. (NYSE:PM) by 3.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,036 shares of the company’s stock after selling 72 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in Philip Morris International were worth $371,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PM. Brighton Jones LLC raised its holdings in Philip Morris International by 31.1% in the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock valued at $1,027,000 after acquiring an additional 2,023 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in Philip Morris International by 4.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock valued at $252,000 after acquiring an additional 91 shares in the last quarter. GAMMA Investing LLC raised its holdings in Philip Morris International by 26.5% in the 1st quarter. GAMMA Investing LLC now owns 28,268 shares of the company’s stock valued at $4,487,000 after acquiring an additional 5,930 shares in the last quarter. CX Institutional raised its holdings in Philip Morris International by 4.4% in the 1st quarter. CX Institutional now owns 8,893 shares of the company’s stock valued at $1,412,000 after acquiring an additional 373 shares in the last quarter. Finally, Focus Financial Network Inc. raised its holdings in Philip Morris International by 2.2% in the 1st quarter. Focus Financial Network Inc. now owns 5,264 shares of the company’s stock valued at $836,000 after acquiring an additional 112 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PM shares. JPMorgan Chase & Co. lifted their price target on 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 reiterated a “buy” rating on shares of Philip Morris International in a research note on Thursday, September 4th. Wall Street Zen lowered Philip Morris International from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Jefferies Financial Group started coverage on Philip Morris International in a research note on Wednesday, July 9th. They issued a “buy” rating and a $220.00 price target on the stock. Finally, KGI Securities started coverage on Philip Morris International in a research note on Monday, August 4th. They issued an “outperform” rating on the stock. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $195.44.

Philip Morris International Stock Up 2.3%

Shares of PM stock opened at $160.51 on Friday. The firm has a market capitalization of $249.85 billion, a P/E ratio of 30.52, a P/E/G ratio of 2.29 and a beta of 0.46. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69. The stock’s fifty day simple moving average is $164.24 and its 200 day simple moving average is $168.67.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. The business had revenue of $8.12 billion for the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. As a group, equities research analysts expect that Philip Morris International Inc. will post 7.14 EPS 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 $1.47 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date is Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.7%. Philip Morris International’s dividend payout ratio is presently 111.79%.

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.