Mutual of America Capital Management LLC Lowers Stock Holdings in Philip Morris International Inc. $PM

Key Points

• Mutual of America Capital Management LLC reduced its stake in Philip Morris International Inc. by 2.1% in the second quarter, leaving them with 197,661 shares valued at approximately $36 million.
• Multiple hedge funds have increased their holdings in Philip Morris, with Quotient Wealth Partners LLC and Aspiriant LLC boosting their stakes by 17.0% and 22.7%, respectively.
• Analysts have mixed views on Philip Morris International, with Jefferies initiating a "buy" rating at a price target of $220, while others, including UBS and Wall Street Zen, have lowered their price targets and ratings.

Mutual of America Capital Management LLC lessened its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 2.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 197,661 shares of the company's stock after selling 4,320 shares during the quarter. Philip Morris International accounts for approximately 0.4% of Mutual of America Capital Management LLC's portfolio, making the stock its 25th biggest position. Mutual of America Capital Management LLC's holdings in Philip Morris International were worth $36,000,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Quotient Wealth Partners LLC boosted its stake in shares of Philip Morris International by 17.0% in the 2nd quarter. Quotient Wealth Partners LLC now owns 5,195 shares of the company's stock valued at $946,000 after buying an additional 754 shares during the period. Aspiriant LLC boosted its stake in shares of Philip Morris International by 22.7% in the 2nd quarter. Aspiriant LLC now owns 2,211 shares of the company's stock valued at $403,000 after buying an additional 409 shares during the period. Koshinski Asset Management Inc. boosted its stake in shares of Philip Morris International by 6.3% in the 2nd quarter. Koshinski Asset Management Inc. now owns 13,545 shares of the company's stock valued at $2,467,000 after buying an additional 797 shares during the period. Chevy Chase Trust Holdings LLC boosted its stake in shares of Philip Morris International by 1.2% in the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 832,522 shares of the company's stock valued at $151,627,000 after buying an additional 10,028 shares during the period. Finally, Arista Wealth Management LLC purchased a new position in shares of Philip Morris International in the 2nd quarter valued at about $1,780,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PM. Jefferies Financial Group began coverage on Philip Morris International in a research note on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price objective for the company. UBS Group decreased their price objective on 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. Barclays decreased their price objective on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. Citigroup reissued a "buy" rating on shares of Philip Morris International in a research report on Thursday, September 4th. Finally, Wall Street Zen lowered Philip Morris International from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $195.44.

Philip Morris International Stock Performance

Shares of NYSE PM opened at $158.08 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 has a market capitalization of $246.06 billion, a PE ratio of 30.05, a price-to-earnings-growth ratio of 2.31 and a beta of 0.46. The stock's 50-day simple moving average is $163.40 and its 200-day simple moving average is $168.82.

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 negative return on equity of 120.86% and a net margin of 9.03%. On average, sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend 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 of this dividend is Friday, October 3rd. Philip Morris International's dividend payout ratio is presently 111.79%.

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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