Pathway Financial Advisors LLC Cuts Stake in Philip Morris International Inc. $PM

Key Points

• Pathway Financial Advisors LLC reduced its stake in Philip Morris International Inc. by 32.9%, holding 3,882 shares worth approximately $707,000, after selling 1,900 shares in the second quarter.
• Philip Morris International has announced a dividend increase to $1.47 per share, leading to an annualized dividend of $5.88 and a yield of 3.7%.
• The stock has a market cap of $249.85 billion and has experienced a price range within the last year of $116.12 to $186.69.

Pathway Financial Advisors LLC lowered its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 32.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,882 shares of the company's stock after selling 1,900 shares during the quarter. Pathway Financial Advisors LLC's holdings in Philip Morris International were worth $707,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Linscomb Wealth Inc. grew its position in shares of Philip Morris International by 3.3% during the first quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company's stock worth $13,207,000 after purchasing an additional 2,669 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of Philip Morris International by 7.3% during the first 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 in the last quarter. 49 Wealth Management LLC grew its position in shares of 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 purchasing an additional 2,354 shares in the last quarter. Cortland Associates Inc. MO grew its holdings in Philip Morris International by 704.0% during the 1st quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company's stock valued at $22,690,000 after buying an additional 125,171 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Philip Morris International by 24.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock worth $69,695,000 after acquiring an additional 87,631 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Stock Performance

Shares of Philip Morris International stock opened at $160.51 on Monday. The stock has a 50 day moving average price of $164.24 and a 200-day moving average price of $168.87. 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 $249.85 billion, a price-to-earnings ratio of 30.52, a price-to-earnings-growth ratio of 2.34 and a beta of 0.46.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) 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. Sell-side analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

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

Analyst Ratings Changes

A number of analysts have issued reports on the company. Wall Street Zen downgraded Philip Morris International from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Needham & Company LLC reaffirmed a "buy" rating and issued a $195.00 price objective on shares of Philip Morris International in a research note on Wednesday, July 23rd. KGI Securities assumed coverage on Philip Morris International in a research note on Monday, August 4th. They issued an "outperform" rating on the stock. UBS Group reduced their price objective on Philip Morris International from $177.00 to $166.00 and set a "neutral" rating on the stock in a research note on Friday, September 5th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Philip Morris International has a consensus 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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