Folger Nolan Fleming Douglas Capital Management Inc. Reduces Position in Philip Morris International Inc. $PM

Folger Nolan Fleming Douglas Capital Management Inc. decreased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 10.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,680 shares of the company’s stock after selling 425 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Philip Morris International were worth $670,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PM. Abound Wealth Management boosted its holdings in shares of Philip Morris International by 566.7% during the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after purchasing an additional 136 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA acquired a new stake in shares of Philip Morris International during the first quarter worth $30,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Philip Morris International by 405.0% during the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock worth $32,000 after purchasing an additional 162 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of Philip Morris International during the first quarter worth $34,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Philip Morris International during the first quarter worth $35,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. KGI Securities assumed coverage on Philip Morris International in a report on Monday, August 4th. They set an “outperform” rating on the stock. Barclays reduced their target price on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Wall Street Zen cut Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday. Finally, Jefferies Financial Group assumed coverage on Philip Morris International in a report on Wednesday, July 9th. They issued a “buy” rating and a $220.00 target price on the stock. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $195.44.

Philip Morris International Price Performance

Shares of PM opened at $160.51 on Friday. The stock’s 50-day moving average is $164.24 and its two-hundred day moving average is $168.67. The stock has a market cap of $249.85 billion, a PE ratio of 30.52, a P/E/G ratio of 2.29 and a beta of 0.46. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 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 EPS for the quarter. The company had revenue of $8.12 billion for the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. On average, research analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently disclosed 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 is a boost from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, October 3rd. Philip Morris International’s payout ratio is presently 111.79%.

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.