Smith Moore & CO. Decreases Position in Philip Morris International Inc. $PM

Smith Moore & CO. decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 10.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 8,806 shares of the company’s stock after selling 987 shares during the period. Smith Moore & CO.’s holdings in Philip Morris International were worth $1,604,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PM. Linscomb Wealth Inc. lifted its position in Philip Morris International by 3.3% during 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 during the period. Prudential Financial Inc. raised its stake in Philip Morris International by 88.9% during the 2nd quarter. Prudential Financial Inc. now owns 2,138,118 shares of the company’s stock valued at $389,415,000 after buying an additional 1,006,014 shares during the last quarter. First American Trust FSB raised its stake in Philip Morris International by 80.0% during the 1st quarter. First American Trust FSB now owns 56,382 shares of the company’s stock valued at $8,949,000 after buying an additional 25,063 shares during the last quarter. Klingman & Associates LLC lifted its holdings in shares of Philip Morris International by 44.5% during the 2nd quarter. Klingman & Associates LLC now owns 6,615 shares of the company’s stock valued at $1,205,000 after buying an additional 2,038 shares during the period. Finally, CCM Investment Group LLC purchased a new position in shares of Philip Morris International in the 1st quarter worth $7,641,000. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

Shares of NYSE PM opened at $156.14 on Tuesday. The firm’s fifty day moving average is $155.56 and its two-hundred day moving average is $166.76. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69. The company has a market cap of $243.05 billion, a P/E ratio of 28.29, a P/E/G ratio of 1.86 and a beta of 0.42.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The company had revenue of $8.12 billion for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%. As a group, 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 was paid on Monday, October 20th. Investors of record on Friday, October 3rd were given a $1.47 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 annualized dividend and a yield of 3.8%. The ex-dividend date was Friday, October 3rd. Philip Morris International’s dividend payout ratio (DPR) is presently 106.52%.

Analyst Ratings Changes

A number of brokerages recently commented on PM. Wall Street Zen raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, November 17th. KGI Securities initiated coverage on shares of Philip Morris International in a report on Monday, August 4th. They set an “outperform” rating on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Citigroup restated a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Twelve 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, the company has a consensus rating of “Moderate Buy” and an average price target of $189.00.

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.