Opes Wealth Management LLC Trims Stock Holdings in Philip Morris International Inc. $PM

Opes Wealth Management LLC lowered its position in shares of Philip Morris International Inc. (NYSE:PM) by 13.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,567 shares of the company’s stock after selling 400 shares during the quarter. Opes Wealth Management LLC’s holdings in Philip Morris International were worth $468,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC boosted its stake in Philip Morris International by 31.1% during 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 boosted its stake in shares of Philip Morris International by 4.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock worth $252,000 after acquiring an additional 91 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Philip Morris International by 26.5% during the 1st quarter. GAMMA Investing LLC now owns 28,268 shares of the company’s stock worth $4,487,000 after acquiring an additional 5,930 shares in the last quarter. Archford Capital Strategies LLC boosted its stake in shares of Philip Morris International by 4.0% during the 1st quarter. Archford Capital Strategies LLC now owns 2,263 shares of the company’s stock worth $359,000 after acquiring an additional 88 shares in the last quarter. Finally, Golden State Equity Partners boosted its stake in shares of Philip Morris International by 24.1% during the 1st quarter. Golden State Equity Partners now owns 3,902 shares of the company’s stock worth $619,000 after acquiring an additional 757 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Trading Up 0.7%

NYSE:PM opened at $158.03 on Friday. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69. The firm has a 50 day moving average of $162.50 and a 200-day moving average of $168.77. The stock has a market capitalization of $245.99 billion, a P/E ratio of 28.63, a price-to-earnings-growth ratio of 2.29 and a beta of 0.46.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 11.02%.The firm had revenue of $8.12 billion during the quarter. As a group, analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were paid a dividend of $1.47 per share. The ex-dividend date was Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.7%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio (DPR) is currently 106.52%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PM. JPMorgan Chase & Co. increased their target price on Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Jefferies Financial Group began coverage on Philip Morris International in a report on Wednesday, July 9th. They issued a “buy” rating and a $220.00 target price for the company. KGI Securities initiated coverage on Philip Morris International in a report on Monday, August 4th. They issued an “outperform” rating for the company. Wall Street Zen lowered Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Morgan Stanley set a $175.00 price objective on Philip Morris International and gave the stock an “overweight” rating in a report on Wednesday. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.