Philip Morris International Inc. $PM Stake Reduced by Mezzasalma Advisors LLC

Mezzasalma Advisors LLC trimmed its stake in Philip Morris International Inc. (NYSE:PM) by 5.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,678 shares of the company’s stock after selling 95 shares during the quarter. Mezzasalma Advisors LLC’s holdings in Philip Morris International were worth $306,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of PM. Abound Wealth Management boosted its stake in Philip Morris International by 566.7% during the 2nd quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after purchasing an additional 136 shares during the period. Kelly Lawrence W & Associates Inc. CA acquired a new stake in shares of Philip Morris International in the first quarter valued at approximately $30,000. CBIZ Investment Advisory Services LLC raised 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 valued at $32,000 after buying an additional 162 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Philip Morris International during the first quarter worth approximately $34,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Philip Morris International during the first quarter worth approximately $35,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Up 1.3%

Shares of PM stock opened at $158.08 on Friday. The stock has a 50-day simple moving average of $163.40 and a 200 day simple moving average of $168.82. The stock has a market capitalization of $246.06 billion, a P/E ratio of 30.05, a P/E/G ratio of 2.31 and a beta of 0.46. 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 issued its quarterly 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 for the quarter. On average, sell-side analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share 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. Investors of record on Friday, October 3rd will be issued a dividend of $1.47 per share. The ex-dividend date is Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 dividend on an annualized basis and a yield of 3.7%. Philip Morris International’s payout ratio is 111.79%.

Analyst Upgrades and Downgrades

PM has been the topic of several analyst reports. Citigroup restated a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Needham & Company LLC reissued a “buy” rating and set a $195.00 price target on shares of Philip Morris International in a report on Wednesday, July 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. UBS Group decreased their target price 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. Finally, JPMorgan Chase & Co. raised their target price on shares of Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average 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.