Spire Wealth Management Sells 4,628 Shares of Philip Morris International Inc. $PM

Spire Wealth Management reduced its stake in shares of Philip Morris International Inc. (NYSE:PM) by 26.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,888 shares of the company’s stock after selling 4,628 shares during the quarter. Spire Wealth Management’s holdings in Philip Morris International were worth $2,337,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PM. Buck Wealth Strategies LLC lifted its holdings in Philip Morris International by 9.6% in the second quarter. Buck Wealth Strategies LLC now owns 1,512 shares of the company’s stock valued at $275,000 after buying an additional 133 shares during the period. Arkadios Wealth Advisors lifted its holdings in Philip Morris International by 58.6% in the second quarter. Arkadios Wealth Advisors now owns 42,393 shares of the company’s stock valued at $7,721,000 after buying an additional 15,667 shares during the period. World Investment Advisors lifted its holdings in Philip Morris International by 12.7% in the second quarter. World Investment Advisors now owns 79,618 shares of the company’s stock valued at $14,501,000 after buying an additional 8,997 shares during the period. Lathrop Investment Management Co. acquired a new position in Philip Morris International in the second quarter valued at approximately $209,000. Finally, Daymark Wealth Partners LLC lifted its holdings in Philip Morris International by 8.1% in the second quarter. Daymark Wealth Partners LLC now owns 23,794 shares of the company’s stock valued at $4,334,000 after buying an additional 1,789 shares during the period. 78.63% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PM. JPMorgan Chase & Co. increased their price objective on shares of Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Stifel Nicolaus set a $180.00 price objective on shares of Philip Morris International in a report on Tuesday, October 21st. Jefferies Financial Group began coverage on shares of Philip Morris International in a report on Wednesday, July 9th. They issued a “buy” rating and a $220.00 price objective on the stock. The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Finally, UBS Group cut their target price on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a report on Friday, September 5th. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $194.00.

Philip Morris International Stock Performance

PM opened at $145.83 on Friday. The firm’s fifty day moving average is $160.60 and its two-hundred day moving average is $168.89. The firm has a market cap of $227.00 billion, a PE ratio of 26.42, a price-to-earnings-growth ratio of 2.13 and a beta of 0.46. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69.

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

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 4.0%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Friday, October 3rd. Philip Morris International’s 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.