Atria Wealth Solutions Inc. Decreases Stock Holdings in Philip Morris International Inc. $PM

Key Points

• Atria Wealth Solutions Inc. reduced its holdings in Philip Morris International by 38.4% during the second quarter, owning 44,193 shares valued at approximately $8 million.
• Philip Morris International announced a quarterly dividend of $1.47 per share, increasing from the previous dividend of $1.35, with a dividend yield of 3.7%.
• Analysts have set an average price target of $195.44 for Philip Morris International, with a majority rating it as a "Moderate Buy."

Atria Wealth Solutions Inc. lowered its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 38.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,193 shares of the company's stock after selling 27,574 shares during the period. Atria Wealth Solutions Inc.'s holdings in Philip Morris International were worth $8,039,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PM. Abound Wealth Management raised its position in 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 purchasing an additional 136 shares during the period. Kelly Lawrence W & Associates Inc. CA acquired a new stake in shares of Philip Morris International in the first quarter valued at about $30,000. CBIZ Investment Advisory Services LLC raised its holdings in shares of Philip Morris International by 405.0% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company's stock valued at $32,000 after buying an additional 162 shares during the period. Clal Insurance Enterprises Holdings Ltd acquired a new position in Philip Morris International during the 1st quarter worth approximately $34,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Philip Morris International during the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 78.63% of the company's stock.

Philip Morris International Price Performance

NYSE PM opened at $160.51 on Monday. The company's fifty day moving average price is $164.24 and its two-hundred day moving average price is $168.87. The company has a market capitalization of $249.85 billion, a price-to-earnings ratio of 30.52, a price-to-earnings-growth ratio of 2.34 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 - Get Free Report) last issued its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The business had revenue of $8.12 billion for the quarter. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. As a group, analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 3rd will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a 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 (DPR) is 111.79%.

Analysts Set New Price Targets

PM has been the subject of several recent research reports. UBS Group lowered their price objective 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. KGI Securities began coverage on shares of Philip Morris International in a research note on Monday, August 4th. They issued an "outperform" rating for the company. Citigroup reaffirmed a "buy" rating on shares of Philip Morris International in a research note on Thursday, September 4th. Wall Street Zen cut shares of Philip Morris International from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Needham & Company LLC restated a "buy" rating and set a $195.00 target price on shares of Philip Morris International in a research note on Wednesday, July 23rd. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Philip Morris International has an average rating of "Moderate Buy" and an average price target of $195.44.

Philip Morris International Company 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.

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