Davidson Trust Co. cut its holdings in shares of Philip Morris International Inc. (NYSE:PM – Free Report) by 5.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,039 shares of the company’s stock after selling 176 shares during the period. Davidson Trust Co.’s holdings in Philip Morris International were worth $553,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PM. Brighton Jones LLC lifted its stake in Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock worth $1,027,000 after purchasing an additional 2,023 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in Philip Morris International by 4.5% during the fourth 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 last quarter. GAMMA Investing LLC lifted its stake in Philip Morris International by 26.5% during the first quarter. GAMMA Investing LLC now owns 28,268 shares of the company’s stock worth $4,487,000 after purchasing an additional 5,930 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Philip Morris International by 24.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company’s stock worth $69,695,000 after purchasing an additional 87,631 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG bought a new stake in Philip Morris International during the first quarter worth $294,000. 78.63% of the stock is currently owned by institutional investors.
Philip Morris International Stock Down 0.2%
Shares of NYSE:PM opened at $159.08 on Wednesday. The firm has a market cap of $247.62 billion, a P/E ratio of 30.24, a P/E/G ratio of 2.33 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. The business has a fifty day simple moving average of $164.07 and a 200 day simple moving average of $168.83.
Philip Morris International Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, October 3rd. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio (DPR) is 111.79%.
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 report on Monday, August 4th. They set an “outperform” rating for the company. Wall Street Zen downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Needham & Company LLC reiterated a “buy” rating and set a $195.00 price target on shares of Philip Morris International in a report on Wednesday, July 23rd. Finally, UBS Group lowered their price target on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a report on Friday, September 5th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Philip Morris International currently has an average rating of “Moderate Buy” and an average price target of $195.44.
Get Our Latest Analysis on Philip Morris International
About Philip Morris International
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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