Johnson Investment Counsel Inc. Lowers Stock Holdings in Philip Morris International Inc. $PM

Johnson Investment Counsel Inc. lowered its stake in shares of Philip Morris International Inc. (NYSE:PM) by 0.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,156 shares of the company’s stock after selling 479 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Philip Morris International were worth $10,046,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Abound Wealth Management grew its holdings in shares of Philip Morris International by 566.7% during the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after buying an additional 136 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA purchased a new position in shares of Philip Morris International during the first quarter worth about $30,000. CBIZ Investment Advisory Services LLC grew its holdings in shares of Philip Morris International by 405.0% during the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock worth $32,000 after buying an additional 162 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Philip Morris International during the first quarter worth about $34,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of Philip Morris International during the first quarter worth about $35,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Trading Up 2.3%

PM stock opened at $160.51 on Monday. The firm has a 50 day moving average of $164.24 and a 200-day moving average of $168.87. Philip Morris International Inc. has a 12-month low of $116.12 and a 12-month high of $186.69. The company has a market cap of $249.85 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 2.34 and a beta of 0.46.

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

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s payout ratio is 111.79%.

Analyst Upgrades and Downgrades

PM has been the topic of a number of analyst reports. Jefferies Financial Group initiated coverage on Philip Morris International in a report on Wednesday, July 9th. They issued a “buy” rating and a $220.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Wall Street Zen lowered Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. UBS Group lowered their price objective on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a report on Friday, September 5th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Philip Morris International presently has a consensus rating of “Moderate Buy” and an average price target of $195.44.

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.