Salomon & Ludwin LLC Sells 1,923 Shares of Philip Morris International Inc. $PM

Key Points

• Salomon & Ludwin LLC reduced its stake in Philip Morris International by 6.5%, selling 1,923 shares, and now holds 27,500 shares worth approximately $4.84 million.
• Philip Morris announced a quarterly dividend increase to $1.47 per share, resulting in an annual yield of 3.7%, with a payout ratio currently at 111.79%.
• Analysts have varying ratings on Philip Morris shares, with a consensus price target of $195.44, reflecting a majority of analysts rating the stock as a "Buy."

Salomon & Ludwin LLC lessened its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 6.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,500 shares of the company's stock after selling 1,923 shares during the quarter. Salomon & Ludwin LLC's holdings in Philip Morris International were worth $4,837,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Abound Wealth Management raised its stake in Philip Morris International by 566.7% during the 2nd quarter. Abound Wealth Management now owns 160 shares of the company's stock valued at $29,000 after purchasing an additional 136 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA acquired a new position in Philip Morris International during the 1st quarter valued at $30,000. CBIZ Investment Advisory Services LLC raised its stake in Philip Morris International by 405.0% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company's stock valued at $32,000 after purchasing an additional 162 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new position in Philip Morris International during the 1st quarter valued at $34,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Philip Morris International during the 1st quarter valued at $35,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Stock Performance

PM opened at $158.08 on Friday. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69. The firm's 50-day simple moving average is $163.40 and its 200-day simple moving average is $168.82. The firm has a market cap of $246.06 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 2.31 and a beta of 0.46.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The firm had revenue of $8.12 billion for the quarter. As a group, sell-side analysts anticipate that Philip Morris International Inc. will post 7.14 EPS 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. Shareholders 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 represents a $5.88 dividend on an annualized basis and a yield of 3.7%. This is an increase from Philip Morris International's previous quarterly dividend of $1.35. Philip Morris International's payout ratio is currently 111.79%.

Analyst Ratings Changes

PM has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their target price on shares of Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Weiss Ratings reissued a "buy (b)" rating on shares of Philip Morris International in a report on Wednesday, October 8th. KGI Securities initiated coverage on shares of Philip Morris International in a report on Monday, August 4th. They issued an "outperform" rating on the stock. Barclays lowered their price target on shares of Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Finally, UBS Group lowered their price target on shares of Philip Morris International from $177.00 to $166.00 and set a "neutral" rating on the stock in a report on Friday, September 5th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $195.44.

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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