Philip Morris International Inc. $PM Stake Cut by Violich Capital Management Inc.

Key Points

• Violich Capital Management Inc. reduced its stake in Philip Morris International by 14.8% in Q2, now holding 62,165 shares valued at approximately $11.3 million, making it the 15th largest holding in their portfolio.
• Several institutional investors, such as Abound Wealth Management and CBIZ Investment Advisory Services LLC, significantly increased their stakes in Philip Morris International, indicating a mixed sentiment among large investors.
• Philip Morris International recently announced an increased quarterly dividend of $1.47 per share, up from $1.35, resulting in an annualized yield of 3.7%.

Violich Capital Management Inc. cut its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 14.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,165 shares of the company's stock after selling 10,830 shares during the quarter. Philip Morris International accounts for about 1.6% of Violich Capital Management Inc.'s investment portfolio, making the stock its 15th largest holding. Violich Capital Management Inc.'s holdings in Philip Morris International were worth $11,322,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PM. Abound Wealth Management lifted its stake in Philip Morris International by 566.7% in the second quarter. Abound Wealth Management now owns 160 shares of the company's stock valued at $29,000 after buying an additional 136 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new stake in Philip Morris International in the first quarter valued at $30,000. CBIZ Investment Advisory Services LLC lifted its stake in Philip Morris International by 405.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company's stock valued at $32,000 after buying an additional 162 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new stake in Philip Morris International in the first quarter valued at $34,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Philip Morris International in the first quarter valued at $35,000. 78.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Citigroup reiterated a "buy" rating on shares of Philip Morris International in a research note on Thursday, September 4th. Wall Street Zen cut shares of Philip Morris International from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. UBS Group cut their price objective on shares of 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, Jefferies Financial Group initiated coverage on shares of Philip Morris International in a research note on Wednesday, July 9th. They set a "buy" rating and a $220.00 price objective 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. According to MarketBeat, Philip Morris International currently has an average rating of "Moderate Buy" and a consensus price target of $195.44.

Philip Morris International Stock Up 1.3%

Shares of NYSE PM opened at $158.08 on Friday. The firm's 50-day simple moving average is $163.40 and its 200 day simple moving average is $168.82. The stock has a market cap of $246.06 billion, a P/E ratio of 30.05, a P/E/G ratio of 2.31 and a beta of 0.46. Philip Morris International Inc. has a fifty-two week low of $116.12 and a fifty-two week 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 (EPS) for the quarter. The firm 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, sell-side analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share 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. Investors of record on Friday, October 3rd will be issued a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, October 3rd. This is an increase from Philip Morris International's previous quarterly dividend of $1.35. This represents a $5.88 dividend on an annualized basis and a yield of 3.7%. Philip Morris International's dividend payout ratio is presently 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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