Envestnet Portfolio Solutions Inc. Has $23.71 Million Stock Position in Philip Morris International Inc. $PM

Envestnet Portfolio Solutions Inc. cut its holdings in Philip Morris International Inc. (NYSE:PM) by 17.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 130,153 shares of the company’s stock after selling 27,996 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Philip Morris International were worth $23,705,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Oregon Public Employees Retirement Fund raised its stake in Philip Morris International by 0.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 134,496 shares of the company’s stock worth $24,496,000 after acquiring an additional 900 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Philip Morris International by 11.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 98,956 shares of the company’s stock valued at $18,023,000 after purchasing an additional 9,801 shares during the last quarter. Vest Financial LLC boosted its position in Philip Morris International by 39.3% in the second quarter. Vest Financial LLC now owns 21,330 shares of the company’s stock valued at $3,885,000 after buying an additional 6,015 shares in the last quarter. Lion Street Advisors LLC boosted its position in Philip Morris International by 5.6% in the second quarter. Lion Street Advisors LLC now owns 4,609 shares of the company’s stock valued at $839,000 after buying an additional 245 shares in the last quarter. Finally, MGO One Seven LLC grew its stake in shares of Philip Morris International by 23.3% during the second quarter. MGO One Seven LLC now owns 30,527 shares of the company’s stock worth $5,560,000 after buying an additional 5,763 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Up 2.3%

Shares of PM opened at $160.51 on Monday. The business’s fifty day moving average is $164.24 and its 200 day moving average is $168.87. Philip Morris International Inc. has a 12-month low of $116.12 and a 12-month high of $186.69. The stock has a market cap of $249.85 billion, a P/E ratio of 30.52, a P/E/G ratio of 2.34 and a beta of 0.46.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PM shares. Wall Street Zen cut Philip Morris International from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Jefferies Financial Group assumed coverage on Philip Morris International in a report on Wednesday, July 9th. They issued a “buy” rating and a $220.00 target price on the stock. UBS Group decreased their target price on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research report on Friday, September 5th. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a research note on Thursday, September 4th. Finally, Needham & Company LLC reissued a “buy” rating and set a $195.00 target price on shares of Philip Morris International in a research note on Wednesday, July 23rd. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.