Rhumbline Advisers Sells 61,345 Shares of Philip Morris International Inc. $PM

Rhumbline Advisers reduced its position in Philip Morris International Inc. (NYSE:PM) by 2.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,445,571 shares of the company’s stock after selling 61,345 shares during the period. Rhumbline Advisers owned 0.16% of Philip Morris International worth $445,412,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PM. Linscomb Wealth Inc. lifted its position in Philip Morris International by 3.3% in the 1st quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company’s stock worth $13,207,000 after buying an additional 2,669 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Philip Morris International by 7.3% during the first quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company’s stock worth $568,873,000 after acquiring an additional 242,799 shares in the last quarter. First American Trust FSB lifted its holdings in shares of Philip Morris International by 80.0% in the 1st quarter. First American Trust FSB now owns 56,382 shares of the company’s stock worth $8,949,000 after acquiring an additional 25,063 shares during the last quarter. Klingman & Associates LLC boosted its stake in shares of Philip Morris International by 44.5% in the 2nd quarter. Klingman & Associates LLC now owns 6,615 shares of the company’s stock valued at $1,205,000 after purchasing an additional 2,038 shares in the last quarter. Finally, CCM Investment Group LLC purchased a new stake in shares of Philip Morris International in the 1st quarter valued at $7,641,000. Institutional investors own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

PM has been the topic of a number of analyst reports. KGI Securities started coverage on shares of Philip Morris International in a research report on Monday, August 4th. They issued an “outperform” rating on the stock. UBS Group lowered their target price on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research note on Friday, September 5th. Barclays reduced their price target on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a research report on Monday, November 17th. Citigroup reiterated a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Finally, Morgan Stanley set a $175.00 price objective on Philip Morris International and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Twelve investment 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 has a consensus rating of “Moderate Buy” and a consensus target price of $189.56.

Philip Morris International Stock Performance

NYSE PM opened at $155.24 on Friday. Philip Morris International Inc. has a fifty-two week low of $116.12 and a fifty-two week high of $186.69. The stock has a 50 day simple moving average of $156.42 and a two-hundred day simple moving average of $167.34. The stock has a market cap of $241.65 billion, a P/E ratio of 28.12, a price-to-earnings-growth ratio of 1.83 and a beta of 0.43.

Philip Morris International (NYSE:PM) last posted its 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 for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%. Sell-side analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Shareholders 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. The ex-dividend date was Friday, October 3rd. This represents a $5.88 annualized dividend and a yield of 3.8%. Philip Morris International’s dividend payout ratio (DPR) is currently 106.52%.

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.