QRG Capital Management Inc. Sells 60,558 Shares of Philip Morris International Inc. $PM

QRG Capital Management Inc. decreased its holdings in Philip Morris International Inc. (NYSE:PM) by 24.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 185,038 shares of the company’s stock after selling 60,558 shares during the quarter. QRG Capital Management Inc.’s holdings in Philip Morris International were worth $30,013,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC acquired a new position in Philip Morris International during the second quarter worth $25,000. Traub Capital Management LLC bought a new stake in Philip Morris International during the second quarter worth about $25,000. Marquette Asset Management LLC increased its holdings in shares of Philip Morris International by 1,677.8% during the third quarter. Marquette Asset Management LLC now owns 160 shares of the company’s stock worth $26,000 after buying an additional 151 shares in the last quarter. Abound Wealth Management raised its stake in shares of Philip Morris International by 566.7% in the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after acquiring an additional 136 shares during the last quarter. Finally, Briaud Financial Planning Inc grew its position in Philip Morris International by 266.7% during the 2nd 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. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

NYSE:PM opened at $173.66 on Friday. The company has a market cap of $270.33 billion, a PE ratio of 31.46, a PEG ratio of 1.86 and a beta of 0.40. The stock has a 50-day simple moving average of $157.72 and a 200 day simple moving average of $161.87. Philip Morris International Inc. has a 52-week low of $119.30 and a 52-week high of $186.69.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Friday, October 24th. The company reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.14. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The firm had revenue of $10.85 billion during the quarter, compared to the consensus estimate of $10.67 billion. During the same period last year, the company earned $1.91 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. On average, research analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Friday, December 26th were issued a dividend of $1.47 per share. The ex-dividend date was Friday, December 26th. This represents a $5.88 dividend on an annualized basis and a yield of 3.4%. Philip Morris International’s dividend payout ratio (DPR) is presently 106.52%.

Analyst Ratings Changes

A number of equities analysts have commented on PM shares. The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Stifel Nicolaus set a $180.00 target price on shares of Philip Morris International in a research report on Tuesday, October 21st. JPMorgan Chase & Co. decreased their price objective on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 26th. Wall Street Zen lowered Philip Morris International from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Philip Morris International presently has a consensus rating of “Moderate Buy” and a consensus target price of $189.00.

About Philip Morris International

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.