Vestmark Advisory Solutions Inc. Sells 6,392 Shares of Philip Morris International Inc. $PM

Vestmark Advisory Solutions Inc. decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 7.5% during the second quarter, Holdings Channel.com reports. The fund owned 78,329 shares of the company’s stock after selling 6,392 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Philip Morris International were worth $14,266,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of PM. Abound Wealth Management raised its holdings in Philip Morris International by 566.7% during the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after acquiring an additional 136 shares during the period. Kelly Lawrence W & Associates Inc. CA purchased a new stake in shares of Philip Morris International during the first quarter worth about $30,000. Briaud Financial Planning Inc raised its stake in Philip Morris International by 266.7% during the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock valued at $30,000 after purchasing an additional 120 shares during the period. CBIZ Investment Advisory Services LLC lifted its holdings in Philip Morris International by 405.0% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock worth $32,000 after purchasing an additional 162 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd bought a new position in Philip Morris International in the 1st quarter worth approximately $34,000. 78.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PM has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Needham & Company LLC restated a “buy” rating and set a $195.00 price objective on shares of Philip Morris International in a research report on Wednesday, July 23rd. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. Barclays decreased their target price on 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. Finally, KGI Securities initiated coverage on Philip Morris International in a report on Monday, August 4th. They set an “outperform” rating for the company. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $194.00.

Philip Morris International Stock Up 0.8%

NYSE PM opened at $151.14 on Friday. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69. The firm has a market capitalization of $235.27 billion, a price-to-earnings ratio of 27.32, a PEG ratio of 2.15 and a beta of 0.43. The company has a fifty day moving average of $158.58 and a two-hundred day moving average of $168.41.

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 net margin of 9.33% and a negative return on equity of 122.14%. The firm had revenue of $8.12 billion during the quarter. Equities research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Friday, October 3rd were given a $1.47 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $5.88 annualized dividend and a yield of 3.9%. Philip Morris International’s dividend payout ratio 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.