WealthPLAN Partners LLC Sells 292 Shares of Philip Morris International Inc. $PM

WealthPLAN Partners LLC reduced its holdings in Philip Morris International Inc. (NYSE:PM) by 16.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,511 shares of the company’s stock after selling 292 shares during the quarter. WealthPLAN Partners LLC’s holdings in Philip Morris International were worth $275,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PM. Abound Wealth Management increased its holdings in shares of Philip Morris International by 566.7% in the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after acquiring an additional 136 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new stake in shares of Philip Morris International in the first quarter worth about $30,000. CBIZ Investment Advisory Services LLC increased its holdings in shares of Philip Morris International by 405.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock worth $32,000 after acquiring an additional 162 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Philip Morris International in the first quarter worth about $34,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Philip Morris International in the first quarter worth about $35,000. 78.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PM has been the subject of a number of research reports. Wall Street Zen downgraded Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. KGI Securities initiated coverage on Philip Morris International in a report on Monday, August 4th. They set an “outperform” rating for the company. Needham & Company LLC reiterated a “buy” rating and set a $195.00 price objective on shares of Philip Morris International in a report on Wednesday, July 23rd. UBS Group decreased their price objective on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a report on Friday, September 5th. Finally, Citigroup reiterated a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $195.44.

Philip Morris International Stock Performance

Shares of NYSE PM opened at $155.82 on Friday. The stock has a 50 day moving average price of $163.64 and a 200 day moving average price of $168.73. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69. The stock has a market capitalization of $242.55 billion, a PE ratio of 29.62, a price-to-earnings-growth ratio of 2.30 and a beta of 0.46.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%.The firm had revenue of $8.12 billion during the quarter. As a group, research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 3rd will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 3.8%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Friday, October 3rd. Philip Morris International’s payout ratio is currently 111.79%.

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.