Foster & Motley Inc. Sells 66 Shares of Philip Morris International Inc. $PM

Foster & Motley Inc. lessened its stake in shares of Philip Morris International Inc. (NYSE:PM) by 4.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,503 shares of the company’s stock after selling 66 shares during the period. Foster & Motley Inc.’s holdings in Philip Morris International were worth $274,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Philip Morris International by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 140,621,675 shares of the company’s stock valued at $22,320,878,000 after purchasing an additional 1,189,283 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Philip Morris International by 26.4% during the 1st quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock valued at $3,466,730,000 after buying an additional 4,563,632 shares in the last quarter. WCM Investment Management LLC raised its position in shares of Philip Morris International by 24,968.0% during the 2nd quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock valued at $2,041,223,000 after buying an additional 11,230,626 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Philip Morris International during the 1st quarter valued at about $1,712,994,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Philip Morris International by 57.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company’s stock valued at $1,554,686,000 after buying an additional 3,575,158 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

Philip Morris International stock opened at $158.08 on Monday. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69. The firm has a market capitalization of $246.06 billion, a P/E ratio of 30.05, a price-to-earnings-growth ratio of 2.31 and a beta of 0.46. The company’s 50-day moving average is $163.40 and its 200 day moving average is $168.86.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share 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 for the quarter. Research analysts anticipate 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 announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be paid a $1.47 dividend. The ex-dividend date is Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a yield of 3.7%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s payout ratio is currently 111.79%.

Wall Street Analyst Weigh In

PM has been the topic of several recent research reports. KGI Securities initiated coverage on shares of Philip Morris International in a research report on Monday, August 4th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. upped 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 report on Thursday, July 10th. Jefferies Financial Group initiated coverage on shares of Philip Morris International in a research report on Wednesday, July 9th. They set a “buy” rating and a $220.00 target price on the stock. Citigroup restated a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Finally, Wall Street Zen cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $195.44.

About Philip Morris International

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.