FLC Capital Advisors reduced its holdings in Philip Morris International Inc. (NYSE:PM – Free Report) by 2.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 14,530 shares of the company’s stock after selling 407 shares during the period. FLC Capital Advisors’ holdings in Philip Morris International were worth $2,646,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Linscomb Wealth Inc. grew its position in shares of Philip Morris International by 3.3% in the first quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company’s stock valued at $13,207,000 after purchasing an additional 2,669 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Philip Morris International by 7.3% during the first quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company’s stock worth $568,873,000 after buying an additional 242,799 shares during the last quarter. 49 Wealth Management LLC boosted its stake in Philip Morris International by 79.0% during the first quarter. 49 Wealth Management LLC now owns 5,334 shares of the company’s stock worth $847,000 after buying an additional 2,354 shares during the last quarter. Cortland Associates Inc. MO grew its holdings in Philip Morris International by 704.0% in the 1st quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company’s stock valued at $22,690,000 after buying an additional 125,171 shares in the last quarter. Finally, First American Trust FSB raised its holdings in shares of Philip Morris International by 80.0% during the 1st quarter. First American Trust FSB now owns 56,382 shares of the company’s stock worth $8,949,000 after acquiring an additional 25,063 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.
Philip Morris International Stock Performance
Shares of PM stock opened at $158.08 on Monday. The firm has a market cap of $246.06 billion, a P/E ratio of 30.05, a P/E/G ratio of 2.31 and a beta of 0.46. The firm’s 50 day moving average price is $163.40 and its 200-day moving average price is $168.86. Philip Morris International Inc. has a one year low of $116.12 and a one year high of $186.69.
Philip Morris International Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 3rd will be issued a dividend of $1.47 per share. This is a positive change 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 yield of 3.7%. Philip Morris International’s dividend payout ratio (DPR) is 111.79%.
Analyst Upgrades and Downgrades
PM has been the topic of several recent research reports. UBS Group lowered their price target on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a research report on Friday, September 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. KGI Securities assumed coverage on shares of Philip Morris International in a report on Monday, August 4th. They set an “outperform” rating for the company. Needham & Company LLC reiterated a “buy” rating and issued a $195.00 price objective on shares of Philip Morris International in a report on Wednesday, July 23rd. Finally, Wall Street Zen cut Philip Morris International from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $195.44.
Check Out Our Latest Analysis on PM
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.
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