Townsquare Capital LLC Sells 23,735 Shares of Philip Morris International Inc. $PM

Townsquare Capital LLC decreased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 34.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,716 shares of the company’s stock after selling 23,735 shares during the period. Philip Morris International comprises 1.1% of Townsquare Capital LLC’s portfolio, making the stock its 20th largest holding. Townsquare Capital LLC’s holdings in Philip Morris International were worth $7,253,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in shares of Philip Morris International in the second quarter worth approximately $25,000. Traub Capital Management LLC bought a new position in shares of Philip Morris International in the second quarter worth about $25,000. Marquette Asset Management LLC grew its stake in shares of Philip Morris International by 1,677.8% during the 3rd quarter. Marquette Asset Management LLC now owns 160 shares of the company’s stock valued at $26,000 after acquiring an additional 151 shares during the period. Briaud Financial Planning Inc raised its stake in Philip Morris International by 266.7% during the 2nd 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 period. Finally, Estabrook Capital Management purchased a new stake in shares of Philip Morris International in the second quarter worth $30,000. 78.63% of the stock is owned by institutional investors.

Philip Morris International Stock Performance

Shares of NYSE PM opened at $177.97 on Friday. Philip Morris International Inc. has a 52-week low of $128.25 and a 52-week high of $186.69. The firm has a market capitalization of $277.04 billion, a price-to-earnings ratio of 32.24, a PEG ratio of 1.92 and a beta of 0.40. The stock has a 50 day moving average price of $161.05 and a 200 day moving average price of $161.57.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th were given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Friday, December 26th. Philip Morris International’s dividend payout ratio (DPR) is 106.52%.

Wall Street Analysts Forecast Growth

PM has been the subject of a number of recent analyst reports. Barclays dropped their price objective on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday, November 17th. Wall Street Zen cut Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research report on Thursday, January 22nd. JPMorgan Chase & Co. lowered their price target on shares of Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Finally, Jefferies Financial Group cut Philip Morris International from a “buy” rating to a “hold” rating and dropped their target price for the stock from $220.00 to $180.00 in a report on Tuesday, January 20th. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $184.56.

Philip Morris International 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.