Philip Morris International Inc. $PM Stake Trimmed by Violich Capital Management Inc.

Violich Capital Management Inc. lowered its stake in Philip Morris International Inc. (NYSE:PM) by 14.8% during the second quarter, HoldingsChannel reports. The firm owned 62,165 shares of the company’s stock after selling 10,830 shares during the period. Philip Morris International accounts for approximately 1.6% of Violich Capital Management Inc.’s holdings, making the stock its 15th biggest position. Violich Capital Management Inc.’s holdings in Philip Morris International were worth $11,322,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of PM. Brighton Jones LLC increased its stake in Philip Morris International by 31.1% in the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock worth $1,027,000 after purchasing an additional 2,023 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in Philip Morris International by 4.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock worth $252,000 after purchasing an additional 91 shares in the last quarter. GAMMA Investing LLC increased its stake in Philip Morris International by 26.5% in the 1st quarter. GAMMA Investing LLC now owns 28,268 shares of the company’s stock worth $4,487,000 after purchasing an additional 5,930 shares in the last quarter. Silver Oak Securities Incorporated purchased a new position in Philip Morris International in the 1st quarter worth about $169,000. Finally, Segment Wealth Management LLC purchased a new position in Philip Morris International in the 1st quarter worth about $443,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

Shares of Philip Morris International stock opened at $158.08 on Friday. The firm has a market cap of $246.06 billion, a price-to-earnings ratio of 30.05, a P/E/G ratio of 2.31 and a beta of 0.46. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69. The stock has a 50-day simple moving average of $163.40 and a 200-day simple moving average of $168.82.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. The business 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, equities research analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be issued a dividend of $1.47 per share. The ex-dividend date is Friday, October 3rd. This represents a $5.88 annualized dividend and a dividend yield of 3.7%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio is presently 111.79%.

Analyst Ratings Changes

PM has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a research note on Thursday, September 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 target price on shares of Philip Morris International in a research note on Wednesday, July 23rd. 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 research note on Friday, September 5th. Finally, Barclays lowered their target price on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Philip Morris International has a consensus rating of “Moderate Buy” and an average price target of $195.44.

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.