Journey Advisory Group LLC Has $687,000 Position in Philip Morris International Inc. $PM

Key Points

• Journey Advisory Group LLC significantly reduced its holdings in Philip Morris International Inc. by 83.8%, ending the quarter with a position worth $687,000.
• Philip Morris announced an increase in its quarterly dividend to $1.47 per share, reflecting an annualized dividend of $5.88 and a yield of 3.7%.
• The company reported $1.59 EPS in its latest quarterly earnings, with analysts anticipating a projected EPS of 7.14 for the current fiscal year.

Journey Advisory Group LLC reduced its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 83.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,771 shares of the company's stock after selling 19,441 shares during the quarter. Journey Advisory Group LLC's holdings in Philip Morris International were worth $687,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Linscomb Wealth Inc. increased its stake in shares of Philip Morris International by 3.3% in the first quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company's stock worth $13,207,000 after acquiring an additional 2,669 shares during the last quarter. Mackenzie Financial Corp increased its stake in shares of Philip Morris International by 7.3% in the first quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company's stock worth $568,873,000 after acquiring an additional 242,799 shares during the last quarter. 49 Wealth Management LLC increased its stake in shares of Philip Morris International by 79.0% in the first quarter. 49 Wealth Management LLC now owns 5,334 shares of the company's stock worth $847,000 after acquiring an additional 2,354 shares during the last quarter. Cortland Associates Inc. MO increased its stake in shares of Philip Morris International by 704.0% in the first quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company's stock worth $22,690,000 after acquiring an additional 125,171 shares during the last quarter. Finally, First American Trust FSB increased its stake in shares of Philip Morris International by 80.0% in the first quarter. First American Trust FSB now owns 56,382 shares of the company's stock worth $8,949,000 after acquiring an additional 25,063 shares during the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Price Performance

PM stock opened at $157.90 on Tuesday. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69. The company has a 50-day moving average of $163.15 and a two-hundred day moving average of $168.92. The stock has a market capitalization of $245.78 billion, a price-to-earnings ratio of 30.02, a price-to-earnings-growth ratio of 2.31 and a beta of 0.46.

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. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The company had revenue of $8.12 billion during the quarter. Equities analysts expect 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 was paid on Monday, October 20th. Shareholders of record on Friday, October 3rd were issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.7%. This is a positive change from Philip Morris International's previous quarterly dividend of $1.35. The ex-dividend date was Friday, October 3rd. Philip Morris International's dividend payout ratio is currently 111.79%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PM. Barclays dropped their price target on shares of Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Jefferies Financial Group started coverage on shares of Philip Morris International in a research report on Wednesday, July 9th. They set a "buy" rating and a $220.00 target price on the stock. Needham & Company LLC reissued a "buy" rating and set a $195.00 target price on shares of Philip Morris International in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. increased their target price on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Citigroup reissued a "buy" rating on shares of Philip Morris International in a research report on Thursday, September 4th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price 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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