Philip Morris International Inc. $PM Shares Sold by Summit Global Investments

Summit Global Investments decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 75.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,309 shares of the company’s stock after selling 3,949 shares during the period. Summit Global Investments’ holdings in Philip Morris International were worth $250,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Coyle Financial Counsel LLC boosted its position in shares of Philip Morris International by 5.3% in the 3rd quarter. Coyle Financial Counsel LLC now owns 1,605 shares of the company’s stock worth $306,000 after purchasing an additional 81 shares during the last quarter. Americana Partners LLC grew its stake in shares of Philip Morris International by 0.3% during the third quarter. Americana Partners LLC now owns 161,053 shares of the company’s stock worth $30,732,000 after purchasing an additional 475 shares during the period. Aprio Wealth Management LLC grew its stake in shares of Philip Morris International by 7.4% during the third quarter. Aprio Wealth Management LLC now owns 15,262 shares of the company’s stock worth $2,912,000 after purchasing an additional 1,049 shares during the period. State of Wyoming bought a new stake in Philip Morris International in the third quarter valued at about $234,000. Finally, CFC Planning Co LLC increased its holdings in Philip Morris International by 5.7% in the third quarter. CFC Planning Co LLC now owns 33,500 shares of the company’s stock valued at $6,393,000 after purchasing an additional 1,802 shares during the last quarter. 78.63% of the stock is owned by institutional investors.

Philip Morris International Price Performance

NYSE PM opened at $207.48 on Wednesday. Philip Morris International Inc. has a one year low of $144.22 and a one year high of $214.35. The firm has a market cap of $323.40 billion, a P/E ratio of 30.29, a P/E/G ratio of 2.79 and a beta of 0.34. The stock’s 50-day moving average is $194.93 and its 200-day moving average is $182.33.

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

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 26th. Shareholders of record on Friday, October 2nd were paid a $1.60 dividend. The ex-dividend date of this dividend was Friday, October 2nd. This is an increase from Philip Morris International’s previous quarterly dividend of $1.47. This represents a $6.40 dividend on an annualized basis and a yield of 3.1%. Philip Morris International’s payout ratio is presently 93.43%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PM shares. UBS Group increased their target price on Philip Morris International from $193.00 to $201.00 and gave the company a “neutral” rating in a research note on Thursday, October 22nd. Morgan Stanley boosted their target price 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. Weiss Ratings raised Philip Morris International from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Needham & Company LLC upped their price target on Philip Morris International from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, October 22nd. Finally, Barclays increased their price target on shares of Philip Morris International from $205.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $212.40.

Philip Morris International Company Profile

Philip Morris International Inc (NYSE:PM) is a global tobacco and nicotine company headquartered in Stamford, Connecticut. It was established as an independent company in 2008 following the separation of Philip Morris International from Altria Group. The company develops, manufactures and markets tobacco, nicotine and other related consumer products primarily outside the United States.

Its portfolio includes internationally recognized cigarette brands such as Marlboro, Parliament, L&M, Chesterfield and Bond Street.