Philip Morris International Inc. $PM Shares Sold by Ellis Investment Partners LLC

Ellis Investment Partners LLC reduced its holdings in Philip Morris International Inc. (NYSE:PM) by 2.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,099 shares of the company’s stock after selling 161 shares during the period. Ellis Investment Partners LLC’s holdings in Philip Morris International were worth $1,111,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PM. Abound Wealth Management grew its holdings in Philip Morris International by 566.7% in the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after purchasing an additional 136 shares during the period. Kelly Lawrence W & Associates Inc. CA acquired a new stake in shares of Philip Morris International in the first quarter worth approximately $30,000. CBIZ Investment Advisory Services LLC boosted its stake in shares of Philip Morris International by 405.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock worth $32,000 after acquiring an additional 162 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of Philip Morris International in the first quarter worth approximately $34,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Philip Morris International in the first quarter worth approximately $35,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Stock Performance

Shares of Philip Morris International stock opened at $160.51 on Monday. Philip Morris International Inc. has a one year low of $116.12 and a one year high of $186.69. The company 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’s 50 day moving average price is $164.24 and its 200 day moving average price is $168.87.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, March 28th. The company reported $1.59 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 for the quarter. On average, analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm 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 $1.47 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, October 3rd. Philip Morris International’s dividend payout ratio (DPR) is presently 111.79%.

Analysts Set New Price Targets

PM has been the topic of a number of research analyst reports. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a research note on Thursday, September 4th. Needham & Company LLC reiterated a “buy” rating and set a $195.00 price objective on shares of Philip Morris International in a research report on Wednesday, July 23rd. Jefferies Financial Group began coverage on Philip Morris International in a research report on Wednesday, July 9th. They set a “buy” rating and a $220.00 price objective on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Finally, KGI Securities began coverage on Philip Morris International in a research report on Monday, August 4th. They set an “outperform” rating on the stock. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Philip Morris International has a consensus 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.