Interchange Capital Partners LLC Sells 5,652 Shares of Philip Morris International Inc. $PM

Key Points

• Interchange Capital Partners LLC significantly reduced its stake in Philip Morris International, selling 5,652 shares and now holding only 268 shares, representing a 95.5% decrease.
• Philip Morris International recently increased its quarterly dividend from $1.35 to $1.47 per share, which yields about 3.7% on an annualized basis.
• Several hedge funds, including Goldman Sachs and Wellington Management Group, increased their holdings in Philip Morris International, highlighting ongoing institutional interest despite recent sell-offs.

Interchange Capital Partners LLC reduced its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 95.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 268 shares of the company's stock after selling 5,652 shares during the quarter. Interchange Capital Partners LLC's holdings in Philip Morris International were worth $49,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PM. Nuveen LLC bought a new position in shares of Philip Morris International in the first quarter valued at $1,712,994,000. Wellington Management Group LLP grew its stake in shares of Philip Morris International by 26.4% in the first quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company's stock valued at $3,466,730,000 after buying an additional 4,563,632 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Philip Morris International by 57.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company's stock valued at $1,554,686,000 after buying an additional 3,575,158 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Philip Morris International by 22.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,018,628 shares of the company's stock valued at $1,431,527,000 after buying an additional 1,635,636 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Philip Morris International by 111.1% in the first quarter. AQR Capital Management LLC now owns 3,002,216 shares of the company's stock valued at $473,660,000 after buying an additional 1,580,368 shares in the last quarter. 78.63% of the stock is owned by institutional investors.

Philip Morris International Price Performance

PM stock opened at $157.88 on Thursday. The company has a fifty day moving average price of $163.89 and a two-hundred day moving average price of $168.75. Philip Morris International Inc. has a one year low of $116.12 and a one year high of $186.69. The stock has a market cap of $245.75 billion, a price-to-earnings ratio of 30.02, a price-to-earnings-growth ratio of 2.32 and a beta of 0.46.

Philip Morris International (NYSE:PM - Get Free Report) last posted its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%.The company had revenue of $8.12 billion during the quarter. 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 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 Upgrades and Downgrades

PM has been the subject of several analyst reports. UBS Group decreased their target price on shares of Philip Morris International from $177.00 to $166.00 and set a "neutral" rating for the company in a research note on Friday, September 5th. JPMorgan Chase & Co. raised their target price on shares of Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Wall Street Zen downgraded Philip Morris International from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Finally, Barclays reduced their price objective on shares of Philip Morris International from $225.00 to $220.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Eleven research 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.com, the company presently has an average rating of "Moderate Buy" and an average 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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