Harbour Trust & Investment Management Co Trims Position in Philip Morris International Inc. $PM

Harbour Trust & Investment Management Co cut its position in Philip Morris International Inc. (NYSE:PM) by 1.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,451 shares of the company’s stock after selling 100 shares during the period. Harbour Trust & Investment Management Co’s holdings in Philip Morris International were worth $993,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of PM. Abound Wealth Management increased its stake in shares of Philip Morris International by 566.7% in the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after purchasing an additional 136 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA purchased a new position in Philip Morris International during the first quarter valued at $30,000. CBIZ Investment Advisory Services LLC grew its stake in Philip Morris International by 405.0% during the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock valued at $32,000 after acquiring an additional 162 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new position in Philip Morris International during the first quarter valued at $34,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Philip Morris International during the first quarter valued at $35,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PM has been the subject of several research analyst reports. KGI Securities initiated coverage on shares of Philip Morris International in a research note on Monday, August 4th. They set an “outperform” rating for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 target price on shares of Philip Morris International in a research note on Wednesday, July 23rd. Barclays cut their target price on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. 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 target price for the company. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $195.44.

Philip Morris International Trading Down 0.7%

Philip Morris International stock opened at $159.31 on Tuesday. The firm has a 50-day moving average price of $164.17 and a 200-day moving average price of $168.90. The firm has a market capitalization of $247.99 billion, a PE ratio of 30.29, a price-to-earnings-growth ratio of 2.34 and a beta of 0.46. Philip Morris International Inc. has a 12-month low of $116.12 and a 12-month high of $186.69.

Philip Morris International (NYSE:PM) 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 during the quarter. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. As a group, sell-side 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 company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be issued a $1.47 dividend. 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 annualized dividend and a dividend yield of 3.7%. Philip Morris International’s dividend payout ratio (DPR) is 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.