Foster & Motley Inc. Decreases Stock Position in Philip Morris International Inc. $PM

Foster & Motley Inc. cut its stake in shares of Philip Morris International Inc. (NYSE:PM) by 4.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,503 shares of the company’s stock after selling 66 shares during the period. Foster & Motley Inc.’s holdings in Philip Morris International were worth $274,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. PFS Partners LLC raised its stake in Philip Morris International by 24.8% during the 2nd quarter. PFS Partners LLC now owns 292 shares of the company’s stock valued at $53,000 after buying an additional 58 shares during the last quarter. Perigon Wealth Management LLC raised its stake in Philip Morris International by 0.4% during the 1st quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company’s stock valued at $2,236,000 after buying an additional 60 shares during the last quarter. TBH Global Asset Management LLC raised its stake in Philip Morris International by 0.9% during the 1st quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company’s stock valued at $1,100,000 after buying an additional 61 shares during the last quarter. Uncommon Cents Investing LLC raised its stake in Philip Morris International by 1.1% during the 2nd quarter. Uncommon Cents Investing LLC now owns 5,666 shares of the company’s stock valued at $1,032,000 after buying an additional 61 shares during the last quarter. Finally, NFP Retirement Inc. raised its stake in Philip Morris International by 2.5% during the 1st quarter. NFP Retirement Inc. now owns 2,589 shares of the company’s stock valued at $411,000 after buying an additional 62 shares during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PM has been the subject of a number of research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Needham & Company LLC reissued a “buy” rating and set a $195.00 price objective on shares of Philip Morris International in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. UBS Group cut their price objective on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research report on Friday, September 5th. Finally, KGI Securities began coverage on shares of Philip Morris International in a research report on Monday, August 4th. They set an “outperform” rating for the company. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $195.44.

Philip Morris International Stock Performance

Shares of Philip Morris International stock opened at $158.08 on Monday. The company has a market capitalization of $246.06 billion, a P/E ratio of 30.05, a P/E/G ratio of 2.31 and a beta of 0.46. The company has a fifty day moving average of $163.40 and a 200 day moving average of $168.86. Philip Morris International Inc. has a fifty-two week low of $116.12 and a fifty-two week high of $186.69.

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

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 3rd will be issued a $1.47 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $5.88 annualized dividend and a yield of 3.7%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s payout ratio is currently 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.