Probity Advisors Inc. Reduces Position in Philip Morris International Inc. $PM

Probity Advisors Inc. lowered its stake in Philip Morris International Inc. (NYSE:PM) by 13.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,012 shares of the company’s stock after selling 804 shares during the period. Probity Advisors Inc.’s holdings in Philip Morris International were worth $913,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PM. Abound Wealth Management boosted 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 acquiring an additional 136 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new stake in Philip Morris International in the first quarter valued at $30,000. CBIZ Investment Advisory Services LLC boosted its holdings in Philip Morris International by 405.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock valued at $32,000 after acquiring an additional 162 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new stake in Philip Morris International in the first quarter valued at $34,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Philip Morris International in the first quarter valued at $35,000. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

PM opened at $157.90 on Tuesday. The stock has a 50-day moving average price of $163.15 and a 200-day moving average price of $168.92. The firm has a market cap of $245.78 billion, a PE ratio of 30.02, a P/E/G ratio of 2.31 and a beta of 0.46. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. The firm had revenue of $8.12 billion during the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. As a group, sell-side analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were given a $1.47 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $5.88 annualized dividend and a dividend yield of 3.7%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s payout ratio is presently 111.79%.

Analyst Ratings Changes

PM has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $195.00 price target on shares of Philip Morris International in a report on Wednesday, July 23rd. Citigroup reissued a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. 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 report on Friday, September 5th. Jefferies Financial Group initiated coverage on Philip Morris International in a research report on Wednesday, July 9th. They set a “buy” rating and a $220.00 price objective for the company. Finally, KGI Securities initiated coverage on Philip Morris International in a research 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $195.44.

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.