Linscomb Wealth Inc. Cuts Stock Holdings in Philip Morris International Inc. $PM

Linscomb Wealth Inc. reduced its position in shares of Philip Morris International Inc. (NYSE:PM) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,471 shares of the company’s stock after selling 734 shares during the period. Philip Morris International accounts for about 0.7% of Linscomb Wealth Inc.’s portfolio, making the stock its 20th largest holding. Linscomb Wealth Inc.’s holdings in Philip Morris International were worth $15,021,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PM. Brighton Jones LLC increased its stake in Philip Morris International by 31.1% during the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock worth $1,027,000 after buying an additional 2,023 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in Philip Morris International by 4.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock worth $252,000 after buying an additional 91 shares in the last quarter. Rossby Financial LCC purchased a new stake in Philip Morris International during the 1st quarter worth approximately $287,000. Keybank National Association OH boosted its holdings in shares of Philip Morris International by 8.4% during the 1st quarter. Keybank National Association OH now owns 133,750 shares of the company’s stock worth $21,230,000 after purchasing an additional 10,401 shares during the last quarter. Finally, WCM Investment Management LLC boosted its holdings in shares of Philip Morris International by 50.5% during the 1st quarter. WCM Investment Management LLC now owns 44,980 shares of the company’s stock worth $6,979,000 after purchasing an additional 15,097 shares during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Stock Performance

PM opened at $145.83 on Friday. Philip Morris International Inc. has a one year low of $116.12 and a one year high of $186.69. The stock has a market capitalization of $227.00 billion, a PE ratio of 26.42, a P/E/G ratio of 2.13 and a beta of 0.46. The business’s 50 day moving average price is $160.60 and its 200 day moving average price is $168.89.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The firm had revenue of $8.12 billion for the quarter. As a group, equities research analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were issued a $1.47 dividend. This is a boost 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 4.0%. The ex-dividend date was Friday, October 3rd. Philip Morris International’s payout ratio is currently 106.52%.

Wall Street Analyst Weigh In

PM has been the topic of several recent research reports. KGI Securities initiated coverage on Philip Morris International in a report on Monday, August 4th. They set an “outperform” rating on the stock. The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Jefferies Financial Group initiated coverage on Philip Morris International in a report on Wednesday, July 9th. They set a “buy” rating and a $220.00 target price on the stock. UBS Group lowered their target price on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a report on Friday, September 5th. Finally, Needham & Company LLC restated a “buy” rating and set a $195.00 target price on shares of Philip Morris International in a report on Wednesday, July 23rd. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $194.00.

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.