Philip Morris International Inc. $PM Shares Sold by Cerro Pacific Wealth Advisors LLC

Cerro Pacific Wealth Advisors LLC reduced its position in shares of Philip Morris International Inc. (NYSE:PM) by 14.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,163 shares of the company’s stock after selling 380 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in Philip Morris International were worth $394,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. waypoint wealth counsel raised its position in shares of Philip Morris International by 45.8% during the 2nd quarter. waypoint wealth counsel now owns 1,884 shares of the company’s stock valued at $343,000 after acquiring an additional 592 shares in the last quarter. Investment Advisory Group LLC acquired a new stake in shares of Philip Morris International during the 2nd quarter valued at approximately $218,000. Apollon Wealth Management LLC raised its position in shares of Philip Morris International by 16.7% during the 2nd quarter. Apollon Wealth Management LLC now owns 63,450 shares of the company’s stock valued at $11,556,000 after acquiring an additional 9,074 shares in the last quarter. Hemington Wealth Management raised its position in shares of Philip Morris International by 6.7% during the 2nd quarter. Hemington Wealth Management now owns 2,516 shares of the company’s stock valued at $458,000 after acquiring an additional 157 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its position in shares of Philip Morris International by 47.0% during the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 46,697 shares of the company’s stock valued at $8,505,000 after acquiring an additional 14,940 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. UBS Group lowered their price objective on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research note on Friday, September 5th. Needham & Company LLC restated a “buy” rating and set a $195.00 price objective on shares of Philip Morris International in a research note on Wednesday, July 23rd. KGI Securities assumed coverage on Philip Morris International in a research note on Monday, August 4th. They set an “outperform” rating for the company. Barclays lowered their price objective on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Finally, Wall Street Zen downgraded Philip Morris International from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $195.44.

Philip Morris International Stock Performance

NYSE:PM opened at $160.51 on Friday. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69. The stock has a market cap of $249.85 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 2.34 and a beta of 0.46. The business has a fifty day moving average of $164.24 and a 200-day moving average of $168.77.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%.The company had revenue of $8.12 billion during the quarter. On average, equities research analysts predict that Philip Morris International Inc. will post 7.14 EPS 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. Investors of record on Friday, October 3rd will be paid a dividend of $1.47 per share. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, October 3rd. Philip Morris International’s dividend payout ratio (DPR) is 111.79%.

About Philip Morris International

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.