Philip Morris International Inc. $PM Shares Sold by Wedmont Private Capital

Wedmont Private Capital lowered its stake in Philip Morris International Inc. (NYSE:PM) by 18.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,503 shares of the company’s stock after selling 6,988 shares during the quarter. Wedmont Private Capital’s holdings in Philip Morris International were worth $4,714,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in PM. WCM Investment Management LLC increased its stake in 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 worth $2,041,223,000 after buying an additional 11,230,626 shares during the period. Vanguard Group Inc. grew its stake in shares of Philip Morris International by 1.6% during the second quarter. Vanguard Group Inc. now owns 142,857,055 shares of the company’s stock valued at $26,018,555,000 after acquiring an additional 2,235,380 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Philip Morris International by 69.0% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,512,311 shares of the company’s stock worth $821,826,000 after acquiring an additional 1,842,754 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Philip Morris International by 111.1% in the first quarter. AQR Capital Management LLC now owns 3,002,216 shares of the company’s stock worth $473,660,000 after acquiring an additional 1,580,368 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in Philip Morris International by 475.5% during the 1st quarter. 1832 Asset Management L.P. now owns 1,325,951 shares of the company’s stock worth $210,468,000 after purchasing an additional 1,095,557 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

NYSE:PM opened at $158.54 on Thursday. Philip Morris International Inc. has a 12-month low of $116.12 and a 12-month high of $186.69. The business has a 50 day simple moving average of $153.85 and a 200 day simple moving average of $164.82. The firm has a market capitalization of $246.79 billion, a P/E ratio of 28.72, a P/E/G ratio of 1.88 and a beta of 0.42.

Philip Morris International (NYSE:PM) last announced 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 9.33% and a negative return on equity of 122.14%. The company had revenue of $8.12 billion during the quarter. Research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 14th. Investors of record on Friday, December 26th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Friday, December 26th. Philip Morris International’s dividend payout ratio is 106.52%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PM. Citigroup reissued a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. UBS Group decreased their price objective on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a report on Friday, September 5th. Barclays cut their target price on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a research note on Monday, November 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Philip Morris International currently has an average rating of “Moderate Buy” and a consensus price target of $189.00.

Philip Morris International Company 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.