Wrapmanager Inc. Cuts Holdings in Philip Morris International Inc. $PM

Wrapmanager Inc. reduced its holdings in Philip Morris International Inc. (NYSE:PM) by 28.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,064 shares of the company’s stock after selling 3,157 shares during the quarter. Wrapmanager Inc.’s holdings in Philip Morris International were worth $1,469,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PM. Vanguard Group Inc. boosted its position in shares of Philip Morris International by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 140,621,675 shares of the company’s stock worth $22,320,878,000 after purchasing an additional 1,189,283 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Philip Morris International by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 37,181,107 shares of the company’s stock valued at $6,760,346,000 after purchasing an additional 672,983 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Philip Morris International by 26.4% in the first quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock valued at $3,466,730,000 after purchasing an additional 4,563,632 shares during the period. WCM Investment Management LLC boosted its holdings in Philip Morris International by 24,968.0% during the second quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock worth $2,041,223,000 after buying an additional 11,230,626 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Philip Morris International during the first quarter worth about $1,712,994,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PM shares. Morgan Stanley set a $175.00 target price on shares of Philip Morris International and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Barclays dropped their price objective on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. KGI Securities assumed coverage on Philip Morris International in a report on Monday, August 4th. They set an “outperform” rating for the company. Wall Street Zen downgraded Philip Morris International from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Finally, Citigroup restated a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Twelve 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $194.00.

Philip Morris International Price Performance

Shares of PM opened at $155.12 on Friday. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69. The stock has a market cap of $241.47 billion, a price-to-earnings ratio of 28.10, a price-to-earnings-growth ratio of 2.25 and a beta of 0.43. The firm has a 50 day simple moving average of $157.58 and a 200-day simple moving average of $168.00.

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

Philip Morris International Increases Dividend

The business also recently disclosed 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 an increase from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.8%. Philip Morris International’s dividend payout ratio is 106.52%.

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.