2,648 Philip Morris International Inc. $PM Shares Sold by Private Advisory Group LLC

Private Advisory Group LLC trimmed its position in shares of Philip Morris International Inc. (NYSE:PM) by 65.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,387 shares of the company’s stock after selling 2,648 shares during the period. Private Advisory Group LLC’s holdings in Philip Morris International were worth $265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. BlackRock Inc. increased its position in Philip Morris International by 0.4% in the second quarter. BlackRock Inc. now owns 108,039,522 shares of the company’s stock worth $19,545,430,000 after purchasing an additional 444,449 shares during the last quarter. State Street Corp lifted its position in Philip Morris International by 1.0% during the second quarter. State Street Corp now owns 55,569,994 shares of the company’s stock valued at $10,134,454,000 after purchasing an additional 536,968 shares during the last quarter. GQG Partners LLC bought a new position in Philip Morris International during the second quarter valued at $8,220,008,000. Wellington Management Group LLP lifted its position in Philip Morris International by 3.9% during the second quarter. Wellington Management Group LLP now owns 17,506,171 shares of the company’s stock valued at $3,167,041,000 after purchasing an additional 650,587 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Philip Morris International by 12.0% in the 1st quarter. Bank of America Corp DE now owns 17,230,669 shares of the company’s stock worth $2,848,919,000 after buying an additional 1,847,421 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Stock Up 1.1%

PM traded up $2.16 during trading on Friday, reaching $198.82. The company had a trading volume of 3,190,584 shares, compared to its average volume of 4,957,140. The stock has a market cap of $309.89 billion, a P/E ratio of 29.02, a PEG ratio of 2.64 and a beta of 0.34. The business has a 50 day simple moving average of $196.34 and a 200-day simple moving average of $183.37. Philip Morris International Inc. has a 52 week low of $146.35 and a 52 week high of $214.35.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Wednesday, October 21st. The company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.30 by $0.06. Philip Morris International had a net margin of 10.73% and a negative return on equity of 183.96%. The company 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 earnings per share. Philip Morris International’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, equities research analysts expect that Philip Morris International Inc. will post 8.32 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 26th. Investors of record on Friday, October 2nd were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, October 2nd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.47. Philip Morris International’s payout ratio is currently 93.43%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PM shares. Needham & Company LLC boosted their target price on shares of Philip Morris International from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. Citigroup increased their price target on shares of Philip Morris International from $210.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Argus lifted their price target on Philip Morris International from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Monday, October 26th. Barclays lifted their price target on Philip Morris International from $205.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Finally, BTIG Research set a $221.00 price objective on Philip Morris International and gave the stock a “buy” rating in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $213.90.

About Philip Morris International

Philip Morris International is a global tobacco and nicotine company that develops, manufactures and sells cigarettes and smoke-free products. Its cigarette brands include Marlboro in markets outside the United States, along with other regional and international brands. The company’s smoke-free portfolio includes IQOS heated tobacco products, ZYN nicotine pouches and VEEV e-vapor products. Philip Morris International sells its products in markets around the world, with availability varying by country and subject to local regulations.