Philip Morris International Inc. $PM Shares Sold by Verity Asset Management Inc.

Verity Asset Management Inc. reduced its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 47.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,483 shares of the company’s stock after selling 11,951 shares during the quarter. Philip Morris International accounts for about 1.2% of Verity Asset Management Inc.’s investment portfolio, making the stock its 20th largest holding. Verity Asset Management Inc.’s holdings in Philip Morris International were worth $2,456,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Abound Wealth Management boosted its holdings in shares of Philip Morris International by 566.7% in the 2nd quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after buying an additional 136 shares during the period. Kelly Lawrence W & Associates Inc. CA acquired a new stake in Philip Morris International during the first quarter worth about $30,000. Briaud Financial Planning Inc lifted its holdings in Philip Morris International by 266.7% in the second quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after acquiring an additional 120 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its stake in Philip Morris International by 405.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock valued at $32,000 after acquiring an additional 162 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new position in Philip Morris International in the first quarter valued at approximately $34,000. Institutional investors own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PM shares. Needham & Company LLC reiterated a “buy” rating and set a $195.00 price target on shares of Philip Morris International in a research report on Wednesday, July 23rd. UBS Group dropped their target price on 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. The Goldman Sachs Group reiterated a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Morgan Stanley set a $175.00 price target on shares of Philip Morris International and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $194.00.

Philip Morris International Price Performance

Shares of Philip Morris International stock opened at $144.33 on Monday. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69. The business’s fifty day moving average price is $160.05 and its two-hundred day moving average price is $168.92. The company has a market capitalization of $224.67 billion, a P/E ratio of 26.15, a PEG ratio of 2.09 and a beta of 0.43.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. The company had revenue of $8.12 billion during the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%. 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 was paid on Monday, October 20th. Shareholders of record on Friday, October 3rd were given 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 was Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.1%. Philip Morris International’s payout ratio is presently 106.52%.

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.