PNC Financial Services Group Inc. Decreases Stake in Philip Morris International Inc. $PM

PNC Financial Services Group Inc. decreased its holdings in Philip Morris International Inc. (NYSE:PM) by 1.4% in the second quarter, Holdings Channel reports. The fund owned 2,766,248 shares of the company’s stock after selling 38,212 shares during the period. PNC Financial Services Group Inc.’s holdings in Philip Morris International were worth $503,817,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in shares of Philip Morris International during the 2nd quarter valued at approximately $25,000. Abound Wealth Management increased its stake in Philip Morris International by 566.7% during the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after acquiring an additional 136 shares during the last quarter. Briaud Financial Planning Inc increased its stake in Philip Morris International by 266.7% during the second quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after acquiring an additional 120 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA purchased a new stake in Philip Morris International in the first quarter valued at $30,000. Finally, CBIZ Investment Advisory Services LLC grew its holdings in shares of Philip Morris International by 405.0% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock worth $32,000 after purchasing an additional 162 shares during the period. 78.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PM has been the subject of several research analyst reports. UBS Group lowered 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 note on Friday, September 5th. Stifel Nicolaus set a $180.00 price target on Philip Morris International in a research note on Tuesday, October 21st. KGI Securities began coverage on Philip Morris International in a research note on Monday, August 4th. They issued an “outperform” rating for the company. Barclays lowered their target price on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and a consensus price target of $194.00.

Philip Morris International Price Performance

NYSE PM opened at $156.93 on Wednesday. The company has a fifty day moving average of $157.85 and a two-hundred day moving average of $168.18. The company has a market capitalization of $244.28 billion, a PE ratio of 28.43, a P/E/G ratio of 2.25 and a beta of 0.43. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. The business had revenue of $8.12 billion during the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%. On average, research analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were given a $1.47 dividend. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date was Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a yield of 3.7%. Philip Morris International’s payout ratio is 106.52%.

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.