Journey Advisory Group LLC Sells 19,441 Shares of Philip Morris International Inc. $PM

Journey Advisory Group LLC lessened its stake in Philip Morris International Inc. (NYSE:PM) by 83.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 3,771 shares of the company’s stock after selling 19,441 shares during the period. Journey Advisory Group LLC’s holdings in Philip Morris International were worth $687,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Drive Wealth Management LLC lifted its stake in shares of Philip Morris International by 69.0% in the second quarter. Drive Wealth Management LLC now owns 7,407 shares of the company’s stock valued at $1,359,000 after buying an additional 3,025 shares during the period. Canvas Wealth Advisors LLC bought a new stake in shares of Philip Morris International in the second quarter valued at about $335,000. Evermay Wealth Management LLC lifted its stake in shares of Philip Morris International by 19.7% in the second quarter. Evermay Wealth Management LLC now owns 1,174 shares of the company’s stock valued at $215,000 after buying an additional 193 shares during the period. Accretive Wealth Partners LLC raised its position in Philip Morris International by 0.8% in the second quarter. Accretive Wealth Partners LLC now owns 14,679 shares of the company’s stock worth $2,673,000 after purchasing an additional 121 shares in the last quarter. Finally, Balboa Wealth Partners raised its position in Philip Morris International by 17.5% in the second quarter. Balboa Wealth Partners now owns 4,334 shares of the company’s stock worth $789,000 after purchasing an additional 646 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. UBS Group lowered their price target on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a report on Friday, September 5th. Needham & Company LLC reissued a “buy” rating and issued a $195.00 price target on shares of Philip Morris International in a report on Wednesday, July 23rd. Jefferies Financial Group began coverage on shares of Philip Morris International in a report on Wednesday, July 9th. They set a “buy” rating and a $220.00 target price for the company. Finally, KGI Securities initiated coverage on shares of Philip Morris International in a report on Monday, August 4th. They set an “outperform” rating for the company. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $195.44.

Philip Morris International Trading Down 0.1%

PM opened at $157.90 on Tuesday. The firm’s fifty day simple moving average is $163.15 and its 200 day simple moving average is $168.92. 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 capitalization of $245.78 billion, a P/E ratio of 30.02, a P/E/G ratio of 2.31 and a beta of 0.46.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The firm had revenue of $8.12 billion for the quarter. On average, equities research 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 declared a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Friday, October 3rd were given a dividend of $1.47 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $5.88 annualized dividend and a yield of 3.7%. Philip Morris International’s payout ratio is presently 111.79%.

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.