Philip Morris International Inc. $PM Shares Sold by RNC Capital Management LLC

RNC Capital Management LLC lowered its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 3.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,814 shares of the company’s stock after selling 485 shares during the period. RNC Capital Management LLC’s holdings in Philip Morris International were worth $2,698,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. PFS Partners LLC boosted its stake in Philip Morris International by 24.8% during the 2nd quarter. PFS Partners LLC now owns 292 shares of the company’s stock worth $53,000 after purchasing an additional 58 shares during the period. Perigon Wealth Management LLC lifted its stake in shares of Philip Morris International by 0.4% in the 1st quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company’s stock worth $2,236,000 after acquiring an additional 60 shares during the period. TBH Global Asset Management LLC lifted its stake in shares of Philip Morris International by 0.9% in the 1st quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company’s stock worth $1,100,000 after acquiring an additional 61 shares during the period. Uncommon Cents Investing LLC lifted its stake in shares of Philip Morris International by 1.1% in the 2nd quarter. Uncommon Cents Investing LLC now owns 5,666 shares of the company’s stock worth $1,032,000 after acquiring an additional 61 shares during the period. Finally, NFP Retirement Inc. lifted its stake in shares of Philip Morris International by 2.5% in the 1st quarter. NFP Retirement Inc. now owns 2,589 shares of the company’s stock worth $411,000 after acquiring an additional 62 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on PM shares. The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a research note on Wednesday. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. UBS Group reduced their price objective on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research note on Friday, September 5th. Barclays reduced their price objective on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Finally, Citigroup reiterated a “buy” rating on shares of Philip Morris International in a research note on Thursday, September 4th. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $194.00.

Philip Morris International Trading Up 3.2%

NYSE:PM opened at $156.91 on Thursday. The firm has a 50-day moving average price of $162.64 and a two-hundred day moving average price of $168.72. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69. The company has a market capitalization of $244.25 billion, a P/E ratio of 28.43, a price-to-earnings-growth ratio of 2.22 and a beta of 0.46.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.17%. The firm had revenue of $8.12 billion during the quarter. On average, equities research analysts predict 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 issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.7%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date was Friday, October 3rd. Philip Morris International’s payout ratio is presently 106.52%.

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.