Simplify Asset Management Inc. Lowers Holdings in Philip Morris International Inc. $PM

Simplify Asset Management Inc. lessened its position in Philip Morris International Inc. (NYSE:PM) by 95.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,310 shares of the company’s stock after selling 26,741 shares during the period. Simplify Asset Management Inc.’s holdings in Philip Morris International were worth $212,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in shares of Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock valued at $1,027,000 after purchasing an additional 2,023 shares during the last quarter. Revolve Wealth Partners LLC grew its position in Philip Morris International by 4.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock worth $252,000 after purchasing an additional 91 shares during the period. Trexquant Investment LP raised its stake in Philip Morris International by 1,467.8% during the 1st quarter. Trexquant Investment LP now owns 29,082 shares of the company’s stock valued at $4,616,000 after buying an additional 27,227 shares during the last quarter. First Financial Bankshares Inc bought a new position in shares of Philip Morris International during the 1st quarter valued at $213,000. Finally, Focus Partners Advisor Solutions LLC boosted its stake in shares of Philip Morris International by 14.4% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 28,972 shares of the company’s stock worth $4,599,000 after buying an additional 3,645 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PM shares. The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. UBS Group cut their target price on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research report on Friday, September 5th. Stifel Nicolaus set a $180.00 target price on shares of Philip Morris International in a report on Tuesday, October 21st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Philip Morris International from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 26th. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $189.00.

Philip Morris International Trading Up 0.0%

Shares of PM stock opened at $161.99 on Wednesday. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69. The firm’s 50 day moving average is $154.43 and its 200-day moving average is $163.35. The firm has a market capitalization of $252.17 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 1.94 and a beta of 0.42.

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. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. The company had revenue of $8.12 billion for the quarter. On average, equities research analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Friday, December 26th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, December 26th. Philip Morris International’s dividend payout ratio is currently 106.52%.

Philip Morris International Profile

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.