Philip Morris International Inc. $PM Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Key Points

• Loring Wolcott & Coolidge Fiduciary Advisors LLP MA has decreased its holdings in Philip Morris International by 0.7%, owning 488,338 shares valued at approximately $88.94 million.
• The company recently increased its quarterly dividend to $1.47 per share, up from the previous $1.35, resulting in an annualized yield of 3.7%.
• According to analysts, Philip Morris International has a consensus rating of "Moderate Buy" with a target price of $194.00, highlighting strong investor interest despite recent stake adjustments.

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 0.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 488,338 shares of the company's stock after selling 3,601 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's holdings in Philip Morris International were worth $88,941,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Philip Morris International by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 140,621,675 shares of the company's stock valued at $22,320,878,000 after acquiring an additional 1,189,283 shares during the period. Wellington Management Group LLP boosted its stake in Philip Morris International by 26.4% during the 1st quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company's stock valued at $3,466,730,000 after purchasing an additional 4,563,632 shares in the last quarter. WCM Investment Management LLC boosted its stake in Philip Morris International by 24,968.0% during the 2nd quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company's stock valued at $2,041,223,000 after purchasing an additional 11,230,626 shares in the last quarter. Nuveen LLC bought a new position in Philip Morris International during the 1st quarter valued at $1,712,994,000. Finally, Goldman Sachs Group Inc. boosted its stake in Philip Morris International by 57.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company's stock valued at $1,554,686,000 after purchasing an additional 3,575,158 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Stock Up 3.2%

Shares of Philip Morris International stock opened at $156.91 on Thursday. The stock has a market cap of $244.25 billion, a PE ratio of 28.43, a price-to-earnings-growth ratio of 2.22 and a beta of 0.46. The business has a fifty day simple moving average of $162.64 and a 200-day simple moving average of $168.72. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last issued its earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The business had revenue of $8.12 billion during the quarter. Philip Morris International had a negative return on equity of 120.17% and a net margin of 9.03%. 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 disclosed a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were issued a dividend of $1.47 per share. This is a positive change from Philip Morris International's previous quarterly dividend of $1.35. This represents a $5.88 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Friday, October 3rd. Philip Morris International's dividend payout ratio is 106.52%.

Wall Street Analyst Weigh In

PM has been the subject of several research reports. Barclays reduced 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. Wall Street Zen lowered Philip Morris International from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Needham & Company LLC reissued a "buy" rating and set a $195.00 price objective on shares of Philip Morris International in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. raised their price objective on Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, KGI Securities initiated coverage on Philip Morris International in a research note on Monday, August 4th. They set an "outperform" rating for the company. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $194.00.

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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