Summit X LLC Sells 1,945 Shares of Philip Morris International Inc. $PM

Summit X LLC decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 42.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,607 shares of the company’s stock after selling 1,945 shares during the period. Summit X LLC’s holdings in Philip Morris International were worth $475,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Linscomb Wealth Inc. grew its stake in shares of Philip Morris International by 3.3% in the first quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company’s stock worth $13,207,000 after acquiring an additional 2,669 shares during the period. Mackenzie Financial Corp lifted its position in Philip Morris International by 7.3% during the first quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company’s stock valued at $568,873,000 after purchasing an additional 242,799 shares during the period. First American Trust FSB boosted its holdings in Philip Morris International by 80.0% in the first quarter. First American Trust FSB now owns 56,382 shares of the company’s stock worth $8,949,000 after purchasing an additional 25,063 shares during the last quarter. SpringVest Wealth Management LLC bought a new stake in Philip Morris International in the 1st quarter worth approximately $253,000. Finally, SFE Investment Counsel purchased a new stake in Philip Morris International during the 1st quarter valued at $327,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

PM has been the topic of a number of recent research reports. Stifel Nicolaus set a $180.00 target price on Philip Morris International in a report on Tuesday, October 21st. Wall Street Zen cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Sunday. Morgan Stanley set a $175.00 price objective on shares of Philip Morris International and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $194.00.

Philip Morris International Stock Performance

Shares of PM stock opened at $153.26 on Monday. The firm has a market capitalization of $238.58 billion, a PE ratio of 27.77, a PEG ratio of 2.22 and a beta of 0.43. The stock has a fifty day simple moving average of $158.30 and a two-hundred day simple moving average of $168.38. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The company had revenue of $8.12 billion for the quarter. On average, sell-side analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were paid a dividend of $1.47 per share. The ex-dividend date of this dividend was Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 annualized dividend and a yield of 3.8%. Philip Morris International’s dividend payout ratio is 106.52%.

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.