Philip Morris International Inc. $PM Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management cut its holdings in Philip Morris International Inc. (NYSE:PM) by 12.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 71,008 shares of the company’s stock after selling 9,985 shares during the period. Ritholtz Wealth Management’s holdings in Philip Morris International were worth $11,518,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Legacy Investment Solutions LLC acquired a new position in Philip Morris International in the second quarter valued at $25,000. Traub Capital Management LLC purchased a new stake in Philip Morris International in the 2nd quarter valued at about $25,000. Marquette Asset Management LLC increased its stake in shares of Philip Morris International by 1,677.8% during the 3rd quarter. Marquette Asset Management LLC now owns 160 shares of the company’s stock valued at $26,000 after acquiring an additional 151 shares during the last quarter. Abound Wealth Management lifted its holdings in shares of Philip Morris International by 566.7% during the 2nd quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after acquiring an additional 136 shares during the period. Finally, Briaud Financial Planning Inc lifted its holdings in shares of Philip Morris International by 266.7% during the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after acquiring an additional 120 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PM shares. Barclays lowered their target price on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a report on Monday, November 17th. JPMorgan Chase & Co. cut their target price on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 26th. The Goldman Sachs Group reiterated a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Stifel Nicolaus set a $180.00 price target on Philip Morris International in a research report on Tuesday, October 21st. Finally, Wall Street Zen downgraded Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Philip Morris International presently has a consensus rating of “Moderate Buy” and an average price target of $189.00.

Philip Morris International Trading Up 0.9%

Shares of Philip Morris International stock opened at $172.69 on Friday. Philip Morris International Inc. has a twelve month low of $118.31 and a twelve month high of $186.69. The stock has a market cap of $268.82 billion, a price-to-earnings ratio of 31.28, a price-to-earnings-growth ratio of 1.84 and a beta of 0.40. The company has a fifty day moving average price of $157.31 and a 200 day moving average price of $161.93.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Friday, October 24th. The company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.14. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The company had revenue of $10.85 billion for the quarter, compared to analysts’ expectations of $10.67 billion. During the same quarter in the previous year, the firm posted $1.91 earnings per share. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. Analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th were given a $1.47 dividend. The ex-dividend date of this dividend was Friday, December 26th. This represents a $5.88 annualized dividend and a yield of 3.4%. Philip Morris International’s dividend payout ratio (DPR) is 106.52%.

Philip Morris International Profile

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.