Philip Morris International Inc. $PM Shares Sold by Private Management Group Inc.

Private Management Group Inc. lessened its holdings in Philip Morris International Inc. (NYSE:PM) by 9.7% during the third quarter, Holdings Channel.com reports. The firm owned 48,442 shares of the company’s stock after selling 5,194 shares during the quarter. Private Management Group Inc.’s holdings in Philip Morris International were worth $9,244,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PM. Caitong International Asset Management Co. Ltd bought a new stake in shares of Philip Morris International in the 2nd quarter worth approximately $29,000. Kelly Lawrence W & Associates Inc. CA purchased a new stake in shares of Philip Morris International in the 2nd quarter worth approximately $34,000. Kilter Group LLC bought a new position in Philip Morris International during the 2nd quarter valued at approximately $35,000. Wilkerson Advisory Group LLC increased its position in Philip Morris International by 109.2% during the 1st quarter. Wilkerson Advisory Group LLC now owns 205 shares of the company’s stock valued at $34,000 after buying an additional 107 shares in the last quarter. Finally, Evergreen Advisors LLC purchased a new position in Philip Morris International during the first quarter valued at $46,000. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

Shares of NYSE:PM opened at $194.31 on Wednesday. The firm has a market cap of $302.86 billion, a price-to-earnings ratio of 28.37, a price-to-earnings-growth ratio of 2.59 and a beta of 0.34. The business has a 50-day simple moving average of $195.73 and a two-hundred day simple moving average of $183.05. Philip Morris International Inc. has a fifty-two week low of $146.35 and a fifty-two week high of $214.35.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $2.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.06. The firm had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $11.32 billion. Philip Morris International had a net margin of 10.73% and a negative return on equity of 183.96%. During the same quarter last year, the firm posted $2.24 EPS. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, research analysts predict that Philip Morris International Inc. will post 8.32 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Investors of record on Friday, October 2nd were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.3%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.47. The ex-dividend date was Friday, October 2nd. Philip Morris International’s payout ratio is currently 93.43%.

Analyst Ratings Changes

Several equities research analysts have commented on PM shares. Citigroup boosted their target price on Philip Morris International from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. UBS Group increased their target price on Philip Morris International from $193.00 to $201.00 and gave the stock a “neutral” rating in a research note on Thursday, October 22nd. JPMorgan Chase & Co. initiated coverage on Philip Morris International in a report on Tuesday. They set a “neutral” rating and a $200.00 price target for the company. Morgan Stanley lifted their price target on Philip Morris International from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Finally, Argus upped their price target on shares of Philip Morris International from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, October 26th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $213.90.

Philip Morris International Profile

Philip Morris International is a global tobacco and nicotine company that develops, manufactures and sells cigarettes and smoke-free products. Its cigarette brands include Marlboro in markets outside the United States, along with other regional and international brands. The company’s smoke-free portfolio includes IQOS heated tobacco products, ZYN nicotine pouches and VEEV e-vapor products. Philip Morris International sells its products in markets around the world, with availability varying by country and subject to local regulations.