Philip Morris International Inc. $PM Shares Sold by Heritage Wealth Advisors

Heritage Wealth Advisors lessened its stake in shares of Philip Morris International Inc. (NYSE:PM) by 2.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 76,367 shares of the company’s stock after selling 2,224 shares during the quarter. Heritage Wealth Advisors’ holdings in Philip Morris International were worth $13,909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. PFS Partners LLC raised its position in Philip Morris International by 24.8% during the 2nd quarter. PFS Partners LLC now owns 292 shares of the company’s stock worth $53,000 after buying an additional 58 shares during the last quarter. Uncommon Cents Investing LLC increased its stake in shares of Philip Morris International by 1.1% during the second quarter. Uncommon Cents Investing LLC now owns 5,666 shares of the company’s stock worth $1,032,000 after acquiring an additional 61 shares during the period. NFP Retirement Inc. raised its holdings 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 in the last quarter. Cranbrook Wealth Management LLC lifted its position in Philip Morris International by 6.5% in the second quarter. Cranbrook Wealth Management LLC now owns 1,014 shares of the company’s stock valued at $185,000 after purchasing an additional 62 shares during the period. Finally, Renasant Bank boosted its holdings in Philip Morris International by 3.3% in the 1st quarter. Renasant Bank now owns 1,994 shares of the company’s stock valued at $317,000 after purchasing an additional 63 shares in the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Stock Performance

Philip Morris International stock opened at $156.05 on Wednesday. Philip Morris International Inc. has a fifty-two week low of $116.12 and a fifty-two week high of $186.69. The firm has a market capitalization of $242.92 billion, a price-to-earnings ratio of 28.27, a price-to-earnings-growth ratio of 2.21 and a beta of 0.43. The stock’s fifty day moving average is $157.08 and its two-hundred day moving average is $167.63.

Philip Morris International (NYSE:PM) last released 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 122.14% and a net margin of 9.33%. As a group, sell-side 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 declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders 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. This represents a $5.88 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Friday, October 3rd. Philip Morris International’s dividend payout ratio (DPR) is currently 106.52%.

Analysts Set New Price Targets

PM has been the subject of a number of analyst reports. Barclays cut their target price on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday. Stifel Nicolaus set a $180.00 price objective on Philip Morris International in a research report on Tuesday, October 21st. Needham & Company LLC reissued a “buy” rating and issued a $195.00 target price on shares of Philip Morris International in a report on Wednesday, July 23rd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Philip Morris International presently has an average rating of “Moderate Buy” and an average price target of $189.56.

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.