Adams Diversified Equity Fund Inc. Sells 15,400 Shares of Philip Morris International Inc. $PM

Key Points

• Adams Diversified Equity Fund Inc. reduced its holdings in Philip Morris International Inc. by 7.6%, selling 15,400 shares, which now account for 1.2% of its total portfolio worth
• Philip Morris International recently increased its quarterly dividend to $1.47 per share, up from $1.35, representing an annual yield of 3.9%.
• The stock has a current market capitalization of $236.48 billion with a PE ratio of 28.88 and is significantly owned by institutional investors, comprising 78.63% of its stock.

Adams Diversified Equity Fund Inc. trimmed its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 7.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 188,335 shares of the company's stock after selling 15,400 shares during the period. Philip Morris International comprises 1.2% of Adams Diversified Equity Fund Inc.'s holdings, making the stock its 20th biggest holding. Adams Diversified Equity Fund Inc.'s holdings in Philip Morris International were worth $34,301,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Abound Wealth Management grew its stake in Philip Morris International by 566.7% in the 2nd quarter. Abound Wealth Management now owns 160 shares of the company's stock worth $29,000 after acquiring an additional 136 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new position in Philip Morris International in the 1st quarter worth about $30,000. CBIZ Investment Advisory Services LLC grew its stake in Philip Morris International by 405.0% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company's stock worth $32,000 after acquiring an additional 162 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new position in Philip Morris International in the 1st quarter worth about $34,000. Finally, Redmont Wealth Advisors LLC bought a new position in Philip Morris International in the 1st quarter worth about $35,000. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Performance

Shares of PM opened at $151.92 on Wednesday. The company has a 50 day moving average price of $162.81 and a 200-day moving average price of $168.80. Philip Morris International Inc. has a fifty-two week low of $116.12 and a fifty-two week high of $186.69. The stock has a market capitalization of $236.48 billion, a PE ratio of 28.88, a PEG ratio of 2.31 and a beta of 0.46.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share 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 during the quarter. Equities research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were given a dividend of $1.47 per share. The ex-dividend date of this dividend 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 3.9%. Philip Morris International's dividend payout ratio is currently 111.79%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PM shares. Needham & Company LLC restated a "buy" rating and issued a $195.00 target price on shares of Philip Morris International in a research note on Wednesday, July 23rd. 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. Jefferies Financial Group started coverage on shares of Philip Morris International in a research report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price target for the company. KGI Securities started coverage on shares of Philip Morris International in a research report on Monday, August 4th. They issued an "outperform" rating for the company. Finally, UBS Group lowered 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. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $195.44.

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.

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