Philip Morris International Inc. $PM Stake Lessened by Wedmont Private Capital

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

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Corient Private Wealth LLC boosted its position in shares of Philip Morris International by 1.2% in the 2nd quarter. Corient Private Wealth LLC now owns 490,590 shares of the company’s stock valued at $89,354,000 after purchasing an additional 5,681 shares during the period. Westwood Holdings Group Inc. lifted its stake in Philip Morris International by 295.8% during the second quarter. Westwood Holdings Group Inc. now owns 67,717 shares of the company’s stock valued at $12,333,000 after buying an additional 50,610 shares in the last quarter. Prudential Financial Inc. boosted its holdings in shares of Philip Morris International by 88.9% in the second quarter. Prudential Financial Inc. now owns 2,138,118 shares of the company’s stock worth $389,415,000 after buying an additional 1,006,014 shares during the period. Trek Financial LLC raised its holdings in shares of Philip Morris International by 732.3% during the second quarter. Trek Financial LLC now owns 42,829 shares of the company’s stock valued at $7,801,000 after acquiring an additional 37,683 shares during the period. Finally, Klingman & Associates LLC boosted its stake in Philip Morris International by 44.5% in the 2nd quarter. Klingman & Associates LLC now owns 6,615 shares of the company’s stock worth $1,205,000 after purchasing an additional 2,038 shares during the period. 78.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PM shares. Barclays lowered their price target on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday, November 17th. JPMorgan Chase & Co. lowered their price target on shares of Philip Morris International from $190.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. UBS Group cut their price objective on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a report on Friday, September 5th. Citigroup restated a “buy” rating on shares of Philip Morris International in a research note on Thursday, September 4th. Finally, Morgan Stanley set a $175.00 price target on Philip Morris International and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $189.00.

Philip Morris International Stock Up 0.4%

Shares of NYSE:PM opened at $158.54 on Thursday. The company has a market cap of $246.79 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 1.88 and a beta of 0.42. The business has a 50 day moving average price of $153.85 and a 200 day moving average price of $164.82. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. The business had revenue of $8.12 billion for the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. Analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Friday, December 26th will be issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, December 26th. Philip Morris International’s dividend payout ratio (DPR) is presently 106.52%.

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.