Patton Fund Management Inc. Sells 18,483 Shares of Philip Morris International Inc. $PM

Patton Fund Management Inc. trimmed its stake in shares of Philip Morris International Inc. (NYSE:PM) by 91.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,629 shares of the company’s stock after selling 18,483 shares during the period. Patton Fund Management Inc.’s holdings in Philip Morris International were worth $264,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in shares of Philip Morris International during the second quarter worth about $25,000. Traub Capital Management LLC bought a new stake in Philip Morris International in the 2nd quarter valued at approximately $25,000. Abound Wealth Management boosted its position in Philip Morris International by 566.7% during the 2nd quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after acquiring an additional 136 shares during the last quarter. Briaud Financial Planning Inc boosted its position in Philip Morris International by 266.7% during the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after acquiring an additional 120 shares during the last quarter. Finally, Estabrook Capital Management bought a new position in shares of Philip Morris International during the 2nd quarter worth approximately $30,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on PM shares. Barclays lowered their price target on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a research note on Monday, November 17th. Citigroup reiterated a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. JPMorgan Chase & Co. decreased their price target on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Wall Street Zen raised Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, November 17th. Finally, Stifel Nicolaus set a $180.00 price objective on Philip Morris International in a report on Tuesday, October 21st. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $189.00.

Philip Morris International Trading Up 1.7%

Shares of NYSE PM opened at $159.54 on Tuesday. The company has a market capitalization of $248.35 billion, a P/E ratio of 28.90, a P/E/G ratio of 1.87 and a beta of 0.42. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69. The stock has a 50 day moving average of $153.79 and a 200-day moving average of $164.20.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The firm had revenue of $8.12 billion during the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. Analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Friday, December 26th will be given a $1.47 dividend. The ex-dividend date of this dividend is Friday, December 26th. This represents a $5.88 annualized dividend and a dividend yield of 3.7%. Philip Morris International’s dividend payout ratio is presently 106.52%.

About Philip Morris International

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.