Greenleaf Trust Sells 4,511 Shares of Philip Morris International Inc. $PM

Greenleaf Trust reduced its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 12.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,098 shares of the company’s stock after selling 4,511 shares during the quarter. Greenleaf Trust’s holdings in Philip Morris International were worth $5,368,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Corient Private Wealth LLC lifted its stake in shares of Philip Morris International by 1.2% during the 2nd quarter. Corient Private Wealth LLC now owns 490,590 shares of the company’s stock worth $89,354,000 after buying an additional 5,681 shares during the last quarter. Westwood Holdings Group Inc. grew its stake in Philip Morris International by 295.8% in the 2nd 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 during the last quarter. Prudential Financial Inc. raised its holdings in Philip Morris International by 88.9% in the 2nd quarter. Prudential Financial Inc. now owns 2,138,118 shares of the company’s stock valued at $389,415,000 after acquiring an additional 1,006,014 shares during the period. Trek Financial LLC lifted its position in Philip Morris International by 732.3% during the second 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 during the last quarter. Finally, Klingman & Associates LLC lifted its position 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 during the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on PM. JPMorgan Chase & Co. decreased their target price on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 26th. Morgan Stanley set a $175.00 price target on Philip Morris International and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Barclays dropped their target price on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a report on Monday, November 17th. Finally, Wall Street Zen raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, November 17th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $189.00.

Philip Morris International Price Performance

Shares of NYSE:PM opened at $160.00 on Tuesday. The business’s 50 day simple moving average is $154.73 and its 200 day simple moving average is $162.71. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69. The company has a market capitalization of $249.06 billion, a P/E ratio of 28.99, a P/E/G ratio of 1.72 and a beta of 0.40.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. The firm had revenue of $8.12 billion during the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%. On average, sell-side analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

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

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.