West Michigan Advisors LLC Sells 409 Shares of Philip Morris International Inc. $PM

West Michigan Advisors LLC reduced its position in Philip Morris International Inc. (NYSE:PM) by 17.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,921 shares of the company’s stock after selling 409 shares during the quarter. West Michigan Advisors LLC’s holdings in Philip Morris International were worth $352,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Abound Wealth Management lifted its holdings in shares of Philip Morris International by 566.7% during 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 period. Briaud Financial Planning Inc lifted its holdings in shares of Philip Morris International by 266.7% during the second quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock valued at $30,000 after acquiring an additional 120 shares during the period. Kelly Lawrence W & Associates Inc. CA bought a new position in shares of Philip Morris International during the first quarter valued at $30,000. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Philip Morris International by 405.0% during 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 bought a new position in shares of Philip Morris International during the first quarter valued at $34,000. 78.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a report on Wednesday. Barclays lowered their target price on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. KGI Securities initiated coverage on Philip Morris International in a research note on Monday, August 4th. They issued an “outperform” rating for the company. Stifel Nicolaus set a $180.00 target price on Philip Morris International in a research note on Tuesday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $194.00.

Philip Morris International Stock Down 0.0%

Shares of PM stock opened at $157.69 on Friday. The stock has a 50-day moving average price of $162.32 and a 200 day moving average price of $168.83. The firm has a market cap of $245.45 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 2.30 and a beta of 0.46. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The firm 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 11.02%. Sell-side analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were given a $1.47 dividend. The ex-dividend date was Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 dividend on an annualized basis and a yield of 3.7%. Philip Morris International’s dividend payout ratio is 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.