Ashton Thomas Private Wealth LLC Lowers Stock Position in Philip Morris International Inc. $PM

Ashton Thomas Private Wealth LLC decreased its position in Philip Morris International Inc. (NYSE:PM) by 4.5% in the second quarter, Holdings Channel reports. The institutional investor owned 19,491 shares of the company’s stock after selling 912 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Philip Morris International were worth $3,576,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of PM. Brighton Jones LLC increased its stake in shares of Philip Morris International by 31.1% in the 4th 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 in the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Philip Morris International by 4.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock valued at $252,000 after purchasing an additional 91 shares in the last quarter. Highland Capital Management LLC increased its stake in shares of Philip Morris International by 18.3% in the 1st quarter. Highland Capital Management LLC now owns 2,136 shares of the company’s stock valued at $339,000 after purchasing an additional 330 shares in the last quarter. Sovran Advisors LLC increased its stake in shares of Philip Morris International by 40.5% in the 1st quarter. Sovran Advisors LLC now owns 3,398 shares of the company’s stock valued at $555,000 after purchasing an additional 979 shares in the last quarter. Finally, Naviter Wealth LLC purchased a new position in shares of Philip Morris International in the 1st quarter valued at about $327,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Trading Down 2.7%

NYSE:PM opened at $153.35 on Tuesday. The company’s 50-day moving average price is $162.06 and its 200-day moving average price is $169.11. The company has a market cap of $238.70 billion, a P/E ratio of 27.78, a P/E/G ratio of 2.28 and a beta of 0.46. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. The firm had revenue of $8.12 billion for the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. On average, analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio is presently 106.52%.

Wall Street Analyst Weigh In

PM has been the topic of several recent analyst reports. Morgan Stanley set a $175.00 price objective on shares of Philip Morris International and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 price objective on shares of Philip Morris International in a report on Wednesday, July 23rd. Jefferies Financial Group initiated coverage on shares of Philip Morris International in a report on Wednesday, July 9th. They set a “buy” rating and a $220.00 price objective on the stock. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. Finally, Stifel Nicolaus set a $180.00 price objective on shares of Philip Morris International in a report on Tuesday, October 21st. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Philip Morris International has an average rating of “Moderate Buy” and a consensus price target of $194.00.

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.