Philip Morris International Inc. (NYSE:PM) Shares Sold by Aberdeen Group plc

Key Points

• Aberdeen Group plc reduced its holdings in Philip Morris International by 3.0%, selling 24,493 shares, and now owns approximately 0.05% of the company, valued at $124.5 million.
• Several institutional investors increased their stakes in Philip Morris, with notable increases including Cortland Associates Inc. MO at 704% and Wealth Enhancement Advisory Services LLC at 24.9%.
• The company's stock currently has a consensus rating of "Moderate Buy" from analysts, with an average price target of $186.27, while recent earnings showed a 7.1% revenue increase year-over-year.

Aberdeen Group plc decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 3.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 789,463 shares of the company's stock after selling 24,493 shares during the period. Aberdeen Group plc owned approximately 0.05% of Philip Morris International worth $124,518,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PM. Linscomb Wealth Inc. grew its holdings in shares of Philip Morris International by 3.3% in the 1st 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 period. Mackenzie Financial Corp grew its holdings in shares of Philip Morris International by 7.3% in the 1st 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 period. 49 Wealth Management LLC grew its holdings in shares of Philip Morris International by 79.0% in the 1st 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 period. Cortland Associates Inc. MO grew its holdings in shares of Philip Morris International by 704.0% in the 1st 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 period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of 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 period. Institutional investors and hedge funds own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PM shares. Morgan Stanley restated an "overweight" rating and issued a $182.00 price target (up previously from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. UBS Group upped their price target on Philip Morris International from $170.00 to $181.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. JPMorgan Chase & Co. upped their target price on Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Jefferies Financial Group assumed coverage on Philip Morris International in a research note on Wednesday, July 9th. They issued a "buy" rating and a $220.00 target price on the stock. Finally, Bank of America upped their target price on Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, Philip Morris International has a consensus rating of "Moderate Buy" and an average target price of $186.27.

Philip Morris International Stock Down 0.4%

Shares of Philip Morris International stock opened at $165.22 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 cap of $257.18 billion, a PE ratio of 31.41, a P/E/G ratio of 2.41 and a beta of 0.48. The business's fifty day moving average is $175.15 and its two-hundred day moving average is $164.30.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.86 by $0.05. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. The company had revenue of $10.14 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the prior year, the company posted $1.59 EPS. The business's revenue for the quarter was up 7.1% compared to the same quarter last year. Equities research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International's dividend payout ratio is currently 102.66%.

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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