Philip Morris International Inc. $PM Stake Lowered by Morgan Dempsey Capital Management LLC

Key Points

• Morgan Dempsey Capital Management LLC reduced its stake in Philip Morris International by 35.6% in the 2nd quarter, selling 21,008 shares and holding 38,035 shares worth about $6.98 million.
• Institutional investors reportedly own 78.63% of the stock, with significant increases in holdings from WCM Investment Management (24,968.0% growth) and Goldman Sachs Group (57.5% growth) in the past quarter.
• Philip Morris International increased its quarterly dividend from $1.35 to $1.47 per share, resulting in an annualized dividend of $5.88 and a dividend yield of 3.7%.

Morgan Dempsey Capital Management LLC cut its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 35.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,035 shares of the company's stock after selling 21,008 shares during the quarter. Philip Morris International makes up 2.9% of Morgan Dempsey Capital Management LLC's portfolio, making the stock its 11th largest holding. Morgan Dempsey Capital Management LLC's holdings in Philip Morris International were worth $6,979,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. WCM Investment Management LLC grew its holdings in Philip Morris International by 24,968.0% in the 2nd quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company's stock worth $2,041,223,000 after buying an additional 11,230,626 shares in the last quarter. Nuveen LLC bought a new position in Philip Morris International in the 1st quarter worth approximately $1,712,994,000. Wellington Management Group LLP grew its holdings in Philip Morris International by 26.4% in the 1st quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company's stock worth $3,466,730,000 after buying an additional 4,563,632 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Philip Morris International by 57.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company's stock worth $1,554,686,000 after buying an additional 3,575,158 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Philip Morris International by 22.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,018,628 shares of the company's stock worth $1,431,527,000 after buying an additional 1,635,636 shares in the last quarter. 78.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PM has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their price objective on Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Needham & Company LLC reissued a "buy" rating and issued a $195.00 price objective on shares of Philip Morris International in a report on Wednesday, July 23rd. Barclays decreased their price objective on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Jefferies Financial Group initiated coverage on Philip Morris International in a research note on Wednesday, July 9th. They set a "buy" rating and a $220.00 price target for the company. Finally, Wall Street Zen lowered Philip Morris International from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $195.44.

Philip Morris International Stock Performance

Shares of NYSE PM opened at $158.08 on Friday. The stock has a fifty day moving average price of $163.40 and a two-hundred day moving average price of $168.82. The firm has a market cap of $246.06 billion, a P/E ratio of 30.05, a PEG ratio of 2.31 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.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%.The company had revenue of $8.12 billion during the quarter. On average, research analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be given a dividend of $1.47 per share. This is a boost from Philip Morris International's previous quarterly dividend of $1.35. The ex-dividend date is Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.7%. Philip Morris International's payout ratio is currently 111.79%.

About Philip Morris International

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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