Philip Morris International Inc. $PM Stake Lowered by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. reduced its stake in shares of Philip Morris International Inc. (NYSE:PM) by 38.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,193 shares of the company’s stock after selling 27,574 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Philip Morris International were worth $8,039,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nuveen LLC acquired a new stake in shares of Philip Morris International in the 1st quarter worth about $1,712,994,000. Wellington Management Group LLP increased its stake in shares of Philip Morris International by 26.4% in the first quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock valued at $3,466,730,000 after purchasing an additional 4,563,632 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Philip Morris International by 57.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company’s stock valued at $1,554,686,000 after buying an additional 3,575,158 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Philip Morris International by 22.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 9,018,628 shares of the company’s stock worth $1,431,527,000 after buying an additional 1,635,636 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Philip Morris International by 111.1% in the 1st quarter. AQR Capital Management LLC now owns 3,002,216 shares of the company’s stock worth $473,660,000 after buying an additional 1,580,368 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Trading Up 2.3%

NYSE PM opened at $160.51 on Monday. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69. The company has a fifty day simple moving average of $164.24 and a 200 day simple moving average of $168.87. The company has a market cap of $249.85 billion, a P/E ratio of 30.52, a P/E/G ratio of 2.34 and a beta of 0.46.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The firm had revenue of $8.12 billion for the quarter. Equities research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.7%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date is Friday, October 3rd. Philip Morris International’s dividend payout ratio is presently 111.79%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PM shares. KGI Securities initiated coverage on Philip Morris International in a report on Monday, August 4th. They set an “outperform” rating on the stock. 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. Barclays dropped their target price on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. UBS Group reduced their price target on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research report on Friday, September 5th. Finally, Wall Street Zen downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $195.44.

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.