Princeton Global Asset Management LLC Reduces Position in Philip Morris International Inc. $PM

Princeton Global Asset Management LLC decreased its holdings in Philip Morris International Inc. (NYSE:PM) by 18.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,231 shares of the company’s stock after selling 1,195 shares during the period. Princeton Global Asset Management LLC’s holdings in Philip Morris International were worth $953,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PM. PFS Partners LLC grew its holdings in Philip Morris International by 24.8% in the 2nd quarter. PFS Partners LLC now owns 292 shares of the company’s stock valued at $53,000 after buying an additional 58 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in shares of Philip Morris International by 0.4% during the 1st quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company’s stock worth $2,236,000 after acquiring an additional 60 shares during the period. TBH Global Asset Management LLC boosted its position in shares of Philip Morris International by 0.9% during the 1st quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company’s stock valued at $1,100,000 after acquiring an additional 61 shares during the last quarter. Uncommon Cents Investing LLC grew its holdings in shares of Philip Morris International by 1.1% in the second quarter. Uncommon Cents Investing LLC now owns 5,666 shares of the company’s stock valued at $1,032,000 after purchasing an additional 61 shares during the period. Finally, NFP Retirement Inc. increased its position in Philip Morris International by 2.5% during the first quarter. NFP Retirement Inc. now owns 2,589 shares of the company’s stock worth $411,000 after purchasing an additional 62 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Stock Up 1.3%

Shares of NYSE PM opened at $158.08 on Monday. The firm has a market cap of $246.06 billion, a price-to-earnings ratio of 30.05, a PEG 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 business’s 50 day moving average is $163.40 and its two-hundred day moving average is $168.86.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%.The business had revenue of $8.12 billion during the quarter. Analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a research note on Thursday, September 4th. Barclays reduced their price target on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. UBS Group lowered their price objective on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research report on Friday, September 5th. Needham & Company LLC restated a “buy” rating and issued a $195.00 target price on shares of Philip Morris International in a research report on Wednesday, July 23rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.44.

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.