SLT Holdings LLC Sells 3,210 Shares of Philip Morris International Inc. $PM

Key Points

• SLT Holdings LLC has reduced its stake in Philip Morris International by 47.5% during the second quarter, now holding 3,541 shares valued at approximately $645,000.
• Philip Morris International has recently announced an increase in its quarterly dividend from $1.35 to $1.47 per share, resulting in an annualized dividend of $5.88 and a yield of 3.7%.
• Market analysts maintain a positive outlook on Philip Morris International, with a consensus rating of "Moderate Buy" and a price target averaging $195.44.

SLT Holdings LLC cut its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 47.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,541 shares of the company's stock after selling 3,210 shares during the quarter. SLT Holdings LLC's holdings in Philip Morris International were worth $645,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nuveen LLC bought a new stake in Philip Morris International in the 1st quarter worth about $1,712,994,000. Wellington Management Group LLP increased 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. increased 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. Massachusetts Financial Services Co. MA increased 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. Finally, AQR Capital Management LLC increased its holdings in Philip Morris International by 111.1% in the 1st quarter. AQR Capital Management LLC now owns 3,002,216 shares of the company's stock worth $473,660,000 after buying an additional 1,580,368 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Performance

Shares of NYSE:PM opened at $160.51 on Friday. The stock has a market capitalization of $249.85 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 2.29 and a beta of 0.46. The stock's 50-day simple moving average is $164.24 and its two-hundred day simple moving average is $168.67. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last announced its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%.The business had revenue of $8.12 billion for the quarter. As a group, equities analysts forecast 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 represents a $5.88 dividend on an annualized basis and a dividend yield of 3.7%. 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. Philip Morris International's payout ratio is presently 111.79%.

Analyst Ratings Changes

Several equities research analysts recently commented on PM shares. Jefferies Financial Group started coverage on Philip Morris International in a report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price objective for the company. Needham & Company LLC reiterated a "buy" rating and issued a $195.00 price objective on shares of Philip Morris International in a report on Wednesday, July 23rd. JPMorgan Chase & Co. lifted 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. Weiss Ratings reiterated a "buy (b)" rating on shares of Philip Morris International in a report on Wednesday. Finally, Barclays dropped their target price on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $195.44.

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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