Philip Morris International Inc. $PM Stake Lowered by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB cut its holdings in Philip Morris International Inc. (NYSE:PM) by 8.9% in the second quarter, HoldingsChannel reports. The firm owned 59,821 shares of the company’s stock after selling 5,820 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Philip Morris International were worth $10,895,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PM. Nuveen LLC bought a new stake in Philip Morris International during the first quarter valued at about $1,712,994,000. Wellington Management Group LLP lifted its stake in shares of Philip Morris International by 26.4% in the first quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock valued at $3,466,730,000 after buying an additional 4,563,632 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Philip Morris International by 57.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company’s stock valued at $1,554,686,000 after buying an additional 3,575,158 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Philip Morris International by 22.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,018,628 shares of the company’s stock valued at $1,431,527,000 after buying an additional 1,635,636 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of Philip Morris International by 111.1% in the first quarter. AQR Capital Management LLC now owns 3,002,216 shares of the company’s stock valued at $473,660,000 after buying an additional 1,580,368 shares during the period. 78.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PM. Needham & Company LLC reiterated a “buy” rating and issued a $195.00 target price on shares of Philip Morris International in a research note on Wednesday, July 23rd. Barclays dropped their price target on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. JPMorgan Chase & Co. increased their price target on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Finally, UBS Group dropped 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 research report on Friday, September 5th. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus target price of $195.44.

Philip Morris International Price Performance

Shares of Philip Morris International stock opened at $159.31 on Tuesday. The firm has a market cap of $247.99 billion, a P/E ratio of 30.29, a P/E/G ratio of 2.34 and a beta of 0.46. The firm has a 50 day simple moving average of $164.17 and a 200 day simple moving average of $168.90. Philip Morris International Inc. has a fifty-two week low of $116.12 and a fifty-two week high of $186.69.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The firm had revenue of $8.12 billion during the quarter. On average, sell-side analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a yield of 3.7%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio (DPR) is presently 111.79%.

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.