Beverly Hills Private Wealth LLC lowered its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 11.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 60,297 shares of the company's stock after selling 7,610 shares during the period. Philip Morris International accounts for about 2.1% of Beverly Hills Private Wealth LLC's holdings, making the stock its 8th biggest position. Beverly Hills Private Wealth LLC's holdings in Philip Morris International were worth $10,982,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Abound Wealth Management increased its stake in Philip Morris International by 566.7% during the 2nd quarter. Abound Wealth Management now owns 160 shares of the company's stock valued at $29,000 after purchasing an additional 136 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new position in shares of Philip Morris International in the first quarter valued at $30,000. CBIZ Investment Advisory Services LLC grew 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 buying an additional 162 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Philip Morris International during the first quarter worth about $34,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Philip Morris International during the first quarter worth about $35,000. Institutional investors own 78.63% of the company's stock.
Philip Morris International Stock Up 1.3%
PM stock opened at $158.08 on Monday. The firm has a market cap of $246.06 billion, a PE ratio of 30.05, a P/E/G ratio of 2.31 and a beta of 0.46. The business has a 50 day moving average of $163.40 and a 200-day moving average of $168.86. 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. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%.The business had revenue of $8.12 billion for the quarter. On average, research analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.
Philip Morris International Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 3rd will be issued a $1.47 dividend. This is an increase from Philip Morris International's previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.7%. Philip Morris International's payout ratio is presently 111.79%.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on PM shares. 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. Citigroup restated a "buy" rating on shares of Philip Morris International in a report on Thursday, September 4th. Barclays cut their target price on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Jefferies Financial Group began coverage on 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. Finally, JPMorgan Chase & Co. raised their price objective on Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Philip Morris International presently has an average rating of "Moderate Buy" and an average target price of $195.44.
Check Out Our Latest Stock Report on PM
About Philip Morris International
(
Free Report)
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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