Perigon Wealth Management LLC Reduces Stock Position in Philip Morris International Inc. (NYSE:PM)

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Perigon Wealth Management LLC lessened its position in shares of Philip Morris International Inc. (NYSE:PM) by 16.8% during the 2nd quarter, Holdings Channel reports. The firm owned 3,345 shares of the company’s stock after selling 677 shares during the quarter. Perigon Wealth Management LLC’s holdings in Philip Morris International were worth $234,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP boosted its stake in shares of Philip Morris International by 3.7% in the first quarter. Allworth Financial LP now owns 3,909 shares of the company’s stock worth $285,000 after buying an additional 138 shares during the last quarter. Carlson Capital Management boosted its stake in shares of Philip Morris International by 4.2% in the first quarter. Carlson Capital Management now owns 3,435 shares of the company’s stock worth $253,000 after buying an additional 138 shares during the last quarter. Chesley Taft & Associates LLC boosted its stake in shares of Philip Morris International by 4.0% in the first quarter. Chesley Taft & Associates LLC now owns 3,762 shares of the company’s stock worth $274,000 after buying an additional 146 shares during the last quarter. Omnia Family Wealth LLC boosted its stake in shares of Philip Morris International by 1.6% in the first quarter. Omnia Family Wealth LLC now owns 9,304 shares of the company’s stock worth $690,000 after buying an additional 151 shares during the last quarter. Finally, Fieldpoint Private Securities LLC boosted its stake in shares of Philip Morris International by 4.9% in the first quarter. Fieldpoint Private Securities LLC now owns 3,417 shares of the company’s stock worth $249,000 after buying an additional 160 shares during the last quarter. Institutional investors and hedge funds own 74.56% of the company’s stock.

A number of brokerages have recently commented on PM. Citigroup restated a “hold” rating and issued a $75.00 target price on shares of Philip Morris International in a research note on Tuesday, June 30th. Stifel Nicolaus upped their target price on Philip Morris International from $85.00 to $90.00 in a research note on Wednesday, July 22nd. 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 research report on Wednesday, May 13th. ValuEngine upgraded Philip Morris International from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. Finally, UBS Group increased 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. Two analysts have rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company. Philip Morris International presently has a consensus rating of “Buy” and an average price target of $90.21.

Shares of Philip Morris International stock opened at $76.81 on Friday. The business has a 50 day simple moving average of $72.98 and a two-hundred day simple moving average of $76.82. Philip Morris International Inc. has a 12 month low of $56.01 and a 12 month high of $90.17. The stock has a market capitalization of $119.60 billion, a P/E ratio of 16.41, a PEG ratio of 2.32 and a beta of 0.76.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, July 21st. The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.19. Philip Morris International had a negative return on equity of 80.24% and a net margin of 9.54%. The business had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $6.54 billion. During the same quarter in the prior year, the firm earned $1.46 earnings per share. The business’s revenue was down 13.6% compared to the same quarter last year. As a group, equities analysts forecast that Philip Morris International Inc. will post 5.02 EPS for the current fiscal year.

The company 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 was Friday, June 19th. This represents a $4.68 dividend on an annualized basis and a dividend yield of 6.09%. Philip Morris International’s payout ratio is currently 90.17%.

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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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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