Philip Morris International Inc. $PM Shares Sold by Spirit of America Management Corp NY

Key Points

• Spirit of America Management Corp NY has reduced its stake in Philip Morris International by 29.4%, bringing their total holdings to 4,800 shares valued at approximately $874,000.
• Philip Morris International recently increased its quarterly dividend from $1.35 to $1.47, resulting in a dividend yield of 3.7% and a payout ratio of 111.79%.
• The stock has a consensus rating of "Moderate Buy" from analysts, with a current price target averaging $195.44, despite some brokerages adjusting their ratings recently.

Spirit of America Management Corp NY trimmed its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 29.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,800 shares of the company's stock after selling 2,000 shares during the period. Spirit of America Management Corp NY's holdings in Philip Morris International were worth $874,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PM. Brighton Jones LLC grew its holdings in Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock worth $1,027,000 after acquiring an additional 2,023 shares during the period. Revolve Wealth Partners LLC grew its holdings in Philip Morris International by 4.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company's stock valued at $252,000 after purchasing an additional 91 shares during the period. GAMMA Investing LLC grew its holdings in Philip Morris International by 26.5% in the first quarter. GAMMA Investing LLC now owns 28,268 shares of the company's stock valued at $4,487,000 after purchasing an additional 5,930 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in 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. Finally, Johnson Investment Counsel Inc. grew its holdings in Philip Morris International by 1.2% in the first quarter. Johnson Investment Counsel Inc. now owns 55,635 shares of the company's stock valued at $8,831,000 after purchasing an additional 650 shares during the period. 78.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on PM. Wall Street Zen lowered Philip Morris International from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. JPMorgan Chase & Co. raised their price objective on Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Barclays dropped their price objective on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. UBS Group dropped their price objective on Philip Morris International from $177.00 to $166.00 and set a "neutral" rating on the stock in a report on Friday, September 5th. Finally, Jefferies Financial Group began coverage on Philip Morris International in a report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price objective on the stock. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Philip Morris International has a consensus rating of "Moderate Buy" and a consensus price target of $195.44.

Philip Morris International Price Performance

NYSE PM opened at $158.08 on Friday. The company has a market cap of $246.06 billion, a PE ratio of 30.05, a price-to-earnings-growth ratio of 2.28 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 $168.73. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last released 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, equities research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.7%. This is a boost from Philip Morris International's previous quarterly dividend of $1.35. The ex-dividend date is Friday, October 3rd. Philip Morris International's dividend payout ratio (DPR) is 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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