Koshinski Asset Management Inc. cut its holdings in Philip Morris International Inc. (NYSE:PM) by 10.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,171 shares of the company’s stock after selling 911 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Philip Morris International were worth $572,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Philip Morris International by 9.2% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 626,375 shares of the company’s stock valued at $45,700,000 after buying an additional 52,750 shares in the last quarter. First Foundation Advisors raised its position in Philip Morris International by 29.2% during the first quarter. First Foundation Advisors now owns 335,949 shares of the company’s stock valued at $24,511,000 after purchasing an additional 75,841 shares during the period. Colony Group LLC raised its position in Philip Morris International by 6.5% during the first quarter. Colony Group LLC now owns 83,601 shares of the company’s stock valued at $6,100,000 after purchasing an additional 5,133 shares during the period. Courier Capital LLC lifted its stake in shares of Philip Morris International by 39.6% in the 2nd quarter. Courier Capital LLC now owns 3,877 shares of the company’s stock valued at $273,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Fred Alger Management LLC purchased a new position in shares of Philip Morris International in the 1st quarter worth approximately $776,000. 74.56% of the stock is currently owned by institutional investors.
Shares of Philip Morris International stock opened at $76.81 on Friday. Philip Morris International Inc. has a 12 month low of $56.01 and a 12 month high of $90.17. The stock’s fifty day moving average price is $72.98 and its 200-day moving average price is $76.82. The firm has a market cap of $119.60 billion, a P/E ratio of 16.41, a P/E/G ratio of 2.32 and a beta of 0.76.
The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 22nd were issued a dividend of $1.17 per share. The ex-dividend date of this dividend was Friday, June 19th. This represents a $4.68 dividend on an annualized basis and a yield of 6.09%. Philip Morris International’s dividend payout ratio is currently 90.17%.
A number of analysts recently issued reports on the company. UBS Group raised their price target on Philip Morris International from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Stifel Nicolaus raised their price objective on shares of Philip Morris International from $85.00 to $90.00 in a research note on Wednesday, July 22nd. Citigroup reaffirmed a “hold” rating and set a $75.00 target price on shares of Philip Morris International in a research note on Tuesday, June 30th. Zacks Investment Research downgraded Philip Morris International from a “hold” rating to a “sell” rating and set a $74.00 price target on the stock. in a report on Wednesday, May 13th. Finally, ValuEngine upgraded Philip Morris International from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $90.21.
About Philip Morris International
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.
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