GW Henssler & Associates Ltd. Lowers Holdings in Philip Morris International Inc. $PM

Key Points

• GW Henssler & Associates Ltd. reduced its holdings in Philip Morris International by 48.6% during Q2, now owning 139,353 shares valued at approximately $25.38 million.
• Several large investors have increased their stakes in Philip Morris, with Abound Wealth Management raising theirs by 566.7% during the same quarter.
• The company has recently raised its quarterly dividend to $1.47 per share, reflecting an increase from its previous dividend of $1.35.

GW Henssler & Associates Ltd. decreased its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 48.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 139,353 shares of the company's stock after selling 131,857 shares during the quarter. Philip Morris International comprises about 1.4% of GW Henssler & Associates Ltd.'s investment portfolio, making the stock its 22nd biggest holding. GW Henssler & Associates Ltd.'s holdings in Philip Morris International were worth $25,380,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PM. Abound Wealth Management raised its stake in 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 buying an additional 136 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA purchased a new position in shares of Philip Morris International in the first quarter worth $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 purchasing an additional 162 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Philip Morris International during the first quarter valued at $34,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Philip Morris International in the 1st quarter worth about $35,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. UBS Group reduced their price objective 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. Jefferies Financial Group assumed coverage on Philip Morris International in a report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price objective for the company. Barclays reduced their price objective on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Wall Street Zen downgraded Philip Morris International from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, JPMorgan Chase & Co. lifted their price objective on Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Philip Morris International presently has an average rating of "Moderate Buy" and an average price target of $195.44.

Philip Morris International Stock Up 2.3%

Philip Morris International stock opened at $160.51 on Friday. The business has a 50-day simple moving average of $164.24 and a two-hundred day simple moving average of $168.77. The company has a market cap of $249.85 billion, a P/E ratio of 30.52, a P/E/G ratio of 2.34 and a beta of 0.46. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. The business had revenue of $8.12 billion during the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. Research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be paid a dividend of $1.47 per share. The ex-dividend date is Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.7%. This is an increase from Philip Morris International's previous quarterly dividend of $1.35. Philip Morris International's dividend payout ratio is presently 111.79%.

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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