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

NorthRock Partners LLC trimmed its holdings in Philip Morris International Inc. (NYSE:PM) by 6.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 193,145 shares of the company’s stock after selling 13,481 shares during the period. Philip Morris International accounts for approximately 0.9% of NorthRock Partners LLC’s holdings, making the stock its 22nd largest holding. NorthRock Partners LLC’s holdings in Philip Morris International were worth $35,438,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund boosted its stake in Philip Morris International by 0.7% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 134,496 shares of the company’s stock worth $24,496,000 after buying an additional 900 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of 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 in the last quarter. Vest Financial LLC lifted its stake in shares of Philip Morris International by 39.3% in the 2nd quarter. Vest Financial LLC now owns 21,330 shares of the company’s stock valued at $3,885,000 after purchasing an additional 6,015 shares in the last quarter. Lion Street Advisors LLC lifted its stake in shares of Philip Morris International by 5.6% in the 2nd quarter. Lion Street Advisors LLC now owns 4,609 shares of the company’s stock valued at $839,000 after purchasing an additional 245 shares in the last quarter. Finally, MGO One Seven LLC lifted its stake in shares of Philip Morris International by 23.3% in the 2nd quarter. MGO One Seven LLC now owns 30,527 shares of the company’s stock valued at $5,560,000 after purchasing an additional 5,763 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Trading Up 2.3%

Shares of NYSE PM opened at $160.51 on Monday. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69. The company has a market capitalization of $249.85 billion, a price-to-earnings ratio of 30.52, a price-to-earnings-growth ratio of 2.34 and a beta of 0.46. The business has a 50 day simple moving average of $164.24 and a 200-day simple moving average of $168.87.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%.The business had revenue of $8.12 billion during the quarter. As a group, equities 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 declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be issued a $1.47 dividend. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date is Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.7%. Philip Morris International’s dividend payout ratio (DPR) is presently 111.79%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PM. KGI Securities began coverage on Philip Morris International in a research note on Monday, August 4th. They issued an “outperform” rating on the stock. Jefferies Financial Group began coverage on Philip Morris International in a research note on Wednesday, July 9th. They issued a “buy” rating and a $220.00 price objective on the stock. Barclays reduced their price objective on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price target on Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Finally, UBS Group reduced their price target on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a research report on Friday, September 5th. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.44.

Philip Morris International Company 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.