Wedge Capital Management L L P NC Sells 5,169 Shares of Philip Morris International Inc. $PM

Wedge Capital Management L L P NC cut its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 3.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 160,087 shares of the company’s stock after selling 5,169 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Philip Morris International were worth $25,966,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Corient Private Wealth LLC lifted its position in Philip Morris International by 1.2% during the second quarter. Corient Private Wealth LLC now owns 490,590 shares of the company’s stock valued at $89,354,000 after buying an additional 5,681 shares during the period. Westwood Holdings Group Inc. grew its position in shares of Philip Morris International by 295.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 67,717 shares of the company’s stock worth $12,333,000 after buying an additional 50,610 shares during the period. Prudential Financial Inc. grew its position in shares of Philip Morris International by 88.9% in the 2nd 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 increased its stake in shares of Philip Morris International by 732.3% in the 2nd quarter. Trek Financial LLC now owns 42,829 shares of the company’s stock worth $7,801,000 after acquiring an additional 37,683 shares in the last quarter. Finally, Klingman & Associates LLC boosted its stake in Philip Morris International by 44.5% during the second quarter. Klingman & Associates LLC now owns 6,615 shares of the company’s stock worth $1,205,000 after acquiring an additional 2,038 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Trading Down 0.2%

Philip Morris International stock opened at $157.07 on Friday. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69. The stock has a fifty day simple moving average of $153.79 and a two-hundred day simple moving average of $164.47. The firm has a market cap of $244.49 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 1.87 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 negative return on equity of 122.14% and a net margin of 9.33%.The firm had revenue of $8.12 billion for the quarter. On average, equities research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PM. Stifel Nicolaus set a $180.00 target price on shares of Philip Morris International in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Morgan Stanley set a $175.00 target price on Philip Morris International and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. UBS Group cut their target price on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a research note on Friday, September 5th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $189.00.

Philip Morris International Company Profile

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.