Koa Wealth Management LLC Cuts Stock Holdings in Philip Morris International Inc. $PM

Key Points

• Koa Wealth Management LLC reduced its stake in Philip Morris International by 10.7% in Q2, owning 15,487 shares, which now represent 2.2% of its portfolio.
• Recent earnings show Philip Morris reported $1.59 EPS and $8.12 billion in revenue, with analysts expecting a total of 7.14 EPS for the current fiscal year.
• Philip Morris International declared a quarterly dividend of $1.47, indicating a positive increase from the previous dividend and representing a 3.8% yield.

Koa Wealth Management LLC lessened its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 10.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,487 shares of the company's stock after selling 1,856 shares during the quarter. Philip Morris International accounts for 2.2% of Koa Wealth Management LLC's investment portfolio, making the stock its 13th largest position. Koa Wealth Management LLC's holdings in Philip Morris International were worth $2,821,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Linscomb Wealth Inc. grew its position 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 valued at $13,207,000 after purchasing an additional 2,669 shares during the period. Mackenzie Financial Corp grew its holdings in shares of Philip Morris International by 7.3% during the 1st quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company's stock worth $568,873,000 after purchasing an additional 242,799 shares during the period. 49 Wealth Management LLC grew its stake in Philip Morris International by 79.0% during the first quarter. 49 Wealth Management LLC now owns 5,334 shares of the company's stock worth $847,000 after buying an additional 2,354 shares during the period. Cortland Associates Inc. MO boosted its position 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 buying an additional 125,171 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Philip Morris International by 24.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock valued at $69,695,000 after purchasing an additional 87,631 shares during the period. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Price Performance

PM opened at $155.82 on Friday. Philip Morris International Inc. has a fifty-two week low of $116.12 and a fifty-two week high of $186.69. The firm's fifty day moving average price is $163.64 and its two-hundred day moving average price is $168.73. The company has a market capitalization of $242.55 billion, a P/E ratio of 29.62, a P/E/G ratio of 2.30 and a beta of 0.46.

Philip Morris International (NYSE:PM - Get Free Report) last issued its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. The business had revenue of $8.12 billion for the quarter. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. On average, equities research analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal 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 paid a $1.47 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $5.88 annualized dividend and a yield of 3.8%. This is a positive change from Philip Morris International's previous quarterly dividend of $1.35. Philip Morris International's payout ratio is presently 111.79%.

Analysts Set New Price Targets

A number of research analysts have commented on PM shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Citigroup reissued a "buy" rating on shares of Philip Morris International in a research note on Thursday, September 4th. JPMorgan Chase & Co. upped their price target 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 restated a "buy" rating and set a $195.00 price objective on shares of Philip Morris International in a report on Wednesday, July 23rd. Finally, Wall Street Zen downgraded Philip Morris International from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $195.44.

Philip Morris International 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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