International Assets Investment Management LLC Cuts Holdings in Philip Morris International Inc. $PM

International Assets Investment Management LLC reduced its position in Philip Morris International Inc. (NYSE:PM) by 7.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,222 shares of the company’s stock after selling 684 shares during the period. International Assets Investment Management LLC’s holdings in Philip Morris International were worth $1,497,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Abound Wealth Management boosted its position in shares of 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 acquiring an additional 136 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new position in Philip Morris International during the first quarter valued at $30,000. CBIZ Investment Advisory Services LLC lifted its position 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 purchasing an additional 162 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Philip Morris International in the 1st quarter worth $34,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Philip Morris International in the 1st quarter worth about $35,000. 78.63% of the stock is owned by institutional investors.

Philip Morris International Stock Performance

PM opened at $158.08 on Monday. The stock’s 50 day moving average price is $163.40 and its 200-day moving average price is $168.86. Philip Morris International Inc. has a one year low of $116.12 and a one year high of $186.69. The stock has a market cap of $246.06 billion, a price-to-earnings ratio of 30.05, a P/E/G ratio of 2.31 and a beta of 0.46.

Philip Morris International (NYSE:PM) last issued its quarterly 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 negative return on equity of 120.86% and a net margin of 9.03%. As a group, 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 declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 3rd will be paid a $1.47 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $5.88 annualized dividend and a yield of 3.7%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s payout ratio is 111.79%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Wall Street Zen downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. JPMorgan Chase & Co. raised their price objective on Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. UBS Group dropped their target price on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a report on Friday, September 5th. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. 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 for the company. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average target price of $195.44.

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.