Drucker Wealth 3.0 LLC Sells 2,667 Shares of Philip Morris International Inc. $PM

Key Points

• Drucker Wealth 3.0 LLC sold 2,667 shares of Philip Morris International Inc., reducing its holdings by 6.4% to 39,073 shares, valued at approximately $6.95 million.
• Philip Morris International recently announced an increase in its quarterly dividend from $1.35 to $1.47 per share, reflecting an annualized yield of 3.7%.
• As of now, eleven analysts have issued a Buy rating for Philip Morris International, with a consensus target price of $195.44 per share.

Drucker Wealth 3.0 LLC reduced its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 6.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,073 shares of the company's stock after selling 2,667 shares during the quarter. Philip Morris International makes up approximately 1.3% of Drucker Wealth 3.0 LLC's holdings, making the stock its 17th biggest position. Drucker Wealth 3.0 LLC's holdings in Philip Morris International were worth $6,954,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Linscomb Wealth Inc. boosted its holdings in shares of Philip Morris International by 3.3% in the 1st quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company's stock valued at $13,207,000 after buying an additional 2,669 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Philip Morris International by 7.3% in the 1st quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company's stock valued at $568,873,000 after buying an additional 242,799 shares during the last quarter. 49 Wealth Management LLC boosted its holdings in shares of Philip Morris International by 79.0% in the 1st quarter. 49 Wealth Management LLC now owns 5,334 shares of the company's stock valued at $847,000 after buying an additional 2,354 shares during the last quarter. Cortland Associates Inc. MO boosted its holdings in shares of Philip Morris International by 704.0% in the 1st quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company's stock valued at $22,690,000 after buying an additional 125,171 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Philip Morris International by 24.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock valued at $69,695,000 after buying an additional 87,631 shares during the last quarter. 78.63% of the stock is owned by institutional investors.

Philip Morris International Price Performance

Shares of Philip Morris International stock opened at $160.51 on Friday. The business has a fifty day simple moving average of $164.24 and a two-hundred day simple moving average of $168.67. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69. The company has a market capitalization of $249.85 billion, a price-to-earnings ratio of 30.52, a P/E/G ratio of 2.29 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 (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 during the quarter. As a group, equities analysts anticipate 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 announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be issued a dividend of $1.47 per share. This is an increase from Philip Morris International's previous quarterly dividend of $1.35. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, October 3rd. Philip Morris International's payout ratio is 111.79%.

Analyst Ratings Changes

Several research firms have recently commented on PM. Weiss Ratings reissued a "buy (b)" rating on shares of Philip Morris International in a report on Wednesday. KGI Securities began coverage on Philip Morris International in a report on Monday, August 4th. They issued an "outperform" rating for the company. JPMorgan Chase & Co. increased their price objective on Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Needham & Company LLC reissued a "buy" rating and issued a $195.00 price objective on shares of Philip Morris International in a report on Wednesday, July 23rd. Finally, UBS Group cut their price target on Philip Morris International from $177.00 to $166.00 and set a "neutral" rating for the company in a report on Friday, September 5th. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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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