Philip Morris International Inc. $PM Shares Sold by Wilmington Savings Fund Society FSB

Key Points

• Wilmington Savings Fund Society FSB reduced its holdings in Philip Morris International by 8.9%, selling 5,820 shares, and now owns 59,821 shares valued at approximately $10.9 million.
• Multiple hedge funds have recently increased their stakes in Philip Morris, with significant rises including Cortland Associates Inc. MO's 704% boost, reflecting growing confidence in the company.
• Philip Morris declared a dividend increase to $1.47 per share, scheduled for payment on October 20, which represents an annualized yield of 3.7% and a payout ratio of 111.79%.

Wilmington Savings Fund Society FSB cut its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 8.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,821 shares of the company's stock after selling 5,820 shares during the period. Wilmington Savings Fund Society FSB's holdings in Philip Morris International were worth $10,895,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Linscomb Wealth Inc. raised its holdings 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 valued at $13,207,000 after buying an additional 2,669 shares during the last quarter. Mackenzie Financial Corp raised its holdings 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 valued at $568,873,000 after buying an additional 242,799 shares during the last quarter. 49 Wealth Management LLC raised its holdings 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 valued at $847,000 after buying an additional 2,354 shares during the last quarter. Cortland Associates Inc. MO raised its holdings in shares of Philip Morris International by 704.0% during the first 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 during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Philip Morris International by 24.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock valued at $69,695,000 after buying an additional 87,631 shares during the last quarter. Institutional investors own 78.63% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PM. UBS Group cut their price target 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. Jefferies Financial Group began coverage on Philip Morris International in a research report on Wednesday, July 9th. They set a "buy" rating and a $220.00 price target on the stock. Citigroup reiterated a "buy" rating on shares of Philip Morris International in a research report on Thursday, September 4th. JPMorgan Chase & Co. lifted their price target on Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Finally, KGI Securities began coverage on Philip Morris International in a research report on Monday, August 4th. They set an "outperform" rating on the stock. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $195.44.

Philip Morris International Stock Performance

NYSE PM opened at $159.31 on Tuesday. The stock has a market capitalization of $247.99 billion, a P/E ratio of 30.29, a P/E/G ratio of 2.34 and a beta of 0.46. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69. The business's fifty day moving average is $164.17 and its two-hundred day moving average is $168.90.

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

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be issued a $1.47 dividend. This is an increase 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 of this dividend is Friday, October 3rd. Philip Morris International's dividend payout ratio is currently 111.79%.

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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