Principle Wealth Partners LLC Trims Stock Position in Philip Morris International Inc. $PM

Principle Wealth Partners LLC decreased its stake in Philip Morris International Inc. (NYSE:PM) by 0.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,423 shares of the company’s stock after selling 273 shares during the period. Principle Wealth Partners LLC’s holdings in Philip Morris International were worth $6,269,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. PFS Partners LLC grew its holdings in shares of Philip Morris International by 24.8% during the second quarter. PFS Partners LLC now owns 292 shares of the company’s stock worth $53,000 after purchasing an additional 58 shares during the last quarter. Perigon Wealth Management LLC boosted its position in shares of Philip Morris International by 0.4% in the 1st quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company’s stock valued at $2,236,000 after purchasing an additional 60 shares during the period. TBH Global Asset Management LLC grew its stake in Philip Morris International by 0.9% during the 1st quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company’s stock worth $1,100,000 after buying an additional 61 shares during the last quarter. Uncommon Cents Investing LLC increased its position in Philip Morris International by 1.1% during the second quarter. Uncommon Cents Investing LLC now owns 5,666 shares of the company’s stock worth $1,032,000 after buying an additional 61 shares during the period. Finally, NFP Retirement Inc. lifted its stake in Philip Morris International by 2.5% in the first quarter. NFP Retirement Inc. now owns 2,589 shares of the company’s stock valued at $411,000 after buying an additional 62 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Stock Up 3.2%

NYSE PM opened at $156.91 on Thursday. The stock has a market capitalization of $244.25 billion, a P/E ratio of 28.43, a P/E/G ratio of 2.22 and a beta of 0.46. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69. The firm has a 50-day moving average price of $162.64 and a 200 day moving average price of $168.72.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. The company had revenue of $8.12 billion for the quarter. Philip Morris International had a negative return on equity of 120.17% and a net margin of 9.03%. On average, equities research analysts expect 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 disclosed a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were issued a dividend of $1.47 per share. This is an increase 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%. The ex-dividend date of this dividend was Friday, October 3rd. Philip Morris International’s payout ratio is presently 106.52%.

Wall Street Analysts Forecast Growth

PM has been the topic of a number of recent research reports. Stifel Nicolaus set a $180.00 target price on shares of Philip Morris International in a report on Tuesday. Morgan Stanley set a $175.00 price objective on shares of Philip Morris International and gave the company an “overweight” rating in a research note on Wednesday. KGI Securities began coverage on shares of Philip Morris International in a research note on Monday, August 4th. They set an “outperform” rating for the company. The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a research report on Wednesday. Finally, Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a research note on Thursday, September 4th. Twelve equities 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 company has an average rating of “Moderate Buy” and an average target price of $194.00.

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.