United Capital Financial Advisers LLC Sells 23,366 Shares of Philip Morris International Inc. (NYSE:PM)

United Capital Financial Advisers LLC reduced its stake in Philip Morris International Inc. (NYSE:PMGet Rating) by 24.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,669 shares of the company’s stock after selling 23,366 shares during the quarter. United Capital Financial Advisers LLC’s holdings in Philip Morris International were worth $6,978,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PM. M Holdings Securities Inc. bought a new stake in Philip Morris International during the 1st quarter worth about $1,882,000. Edgemoor Investment Advisors Inc. lifted its position in Philip Morris International by 14.7% during the 1st quarter. Edgemoor Investment Advisors Inc. now owns 2,940 shares of the company’s stock worth $276,000 after buying an additional 376 shares in the last quarter. Scotia Capital Inc. lifted its position in Philip Morris International by 3.5% during the 1st quarter. Scotia Capital Inc. now owns 50,830 shares of the company’s stock worth $4,775,000 after buying an additional 1,705 shares in the last quarter. Walker Asset Management LLC lifted its position in Philip Morris International by 6,105.0% during the 2nd quarter. Walker Asset Management LLC now owns 563,603 shares of the company’s stock worth $57,461,000 after buying an additional 554,520 shares in the last quarter. Finally, Country Club Bank GFN bought a new stake in Philip Morris International during the 1st quarter worth about $1,134,000. 76.00% of the stock is owned by institutional investors.

Philip Morris International Stock Performance

Shares of PM opened at $98.11 on Thursday. Philip Morris International Inc. has a 52 week low of $82.85 and a 52 week high of $112.48. The firm has a market cap of $152.09 billion, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 4.22 and a beta of 0.69. The firm’s 50-day simple moving average is $90.18 and its 200 day simple moving average is $95.97.

Philip Morris International (NYSE:PMGet Rating) last announced its quarterly earnings results on Thursday, October 20th. The company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.13. Philip Morris International had a net margin of 10.73% and a negative return on equity of 118.75%. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.30 billion. During the same quarter in the prior year, the business earned $1.58 EPS. Philip Morris International’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, equities analysts forecast that Philip Morris International Inc. will post 5.76 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 12th. Shareholders of record on Wednesday, September 28th were issued a $1.27 dividend. The ex-dividend date was Tuesday, September 27th. This represents a $5.08 dividend on an annualized basis and a yield of 5.18%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.25. Philip Morris International’s payout ratio is currently 90.55%.

Wall Street Analyst Weigh In

PM has been the topic of several analyst reports. StockNews.com cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Tuesday, November 15th. Morgan Stanley boosted their price objective on shares of Philip Morris International from $102.00 to $109.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 2nd. Argus upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a research note on Tuesday, November 15th. Stifel Nicolaus lowered their price objective on shares of Philip Morris International from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, October 14th. Finally, Credit Suisse Group lowered their price objective on shares of Philip Morris International to $95.00 in a research note on Thursday, October 27th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $107.50.

About Philip Morris International

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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 that are sold in markets outside the United States.

See Also

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

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