Means Investment CO. Inc. Has $5.82 Million Holdings in Philip Morris International Inc. $PM

Means Investment CO. Inc. cut its position in Philip Morris International Inc. (NYSE:PM) by 0.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 31,948 shares of the company’s stock after selling 197 shares during the quarter. Means Investment CO. Inc.’s holdings in Philip Morris International were worth $5,819,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. PFS Partners LLC grew its position in shares of Philip Morris International by 24.8% in the second quarter. PFS Partners LLC now owns 292 shares of the company’s stock valued at $53,000 after purchasing an additional 58 shares during the last quarter. Perigon Wealth Management LLC grew its holdings in Philip Morris International by 0.4% in the 1st quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company’s stock valued at $2,236,000 after buying an additional 60 shares during the last quarter. TBH Global Asset Management LLC grew its holdings in Philip Morris International by 0.9% in the 1st quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company’s stock valued at $1,100,000 after buying an additional 61 shares during the last quarter. Uncommon Cents Investing LLC grew its stake in shares of Philip Morris International by 1.1% in the second quarter. Uncommon Cents Investing LLC now owns 5,666 shares of the company’s stock worth $1,032,000 after acquiring an additional 61 shares during the last quarter. Finally, NFP Retirement Inc. grew its stake in shares of Philip Morris International by 2.5% in the first quarter. NFP Retirement Inc. now owns 2,589 shares of the company’s stock worth $411,000 after acquiring an additional 62 shares during the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Trading Up 2.3%

NYSE PM opened at $160.51 on Friday. The stock’s 50 day moving average is $164.24 and its two-hundred day moving average is $168.77. The company has a market capitalization of $249.85 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 2.34 and a beta of 0.46. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. The company had revenue of $8.12 billion for the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. On average, analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be paid a $1.47 dividend. The ex-dividend date is Friday, October 3rd. This represents a $5.88 annualized dividend and a dividend yield of 3.7%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio is presently 111.79%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. UBS Group lowered their price objective on shares of 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. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Wall Street Zen lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $195.00 price target on shares of Philip Morris International in a report on Wednesday, July 23rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $195.44.

Philip Morris International Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.