Cullen Frost Bankers Inc. Sells 6,659 Shares of Philip Morris International Inc. $PM

Cullen Frost Bankers Inc. lessened its stake in Philip Morris International Inc. (NYSE:PM) by 2.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 269,968 shares of the company’s stock after selling 6,659 shares during the period. Cullen Frost Bankers Inc.’s holdings in Philip Morris International were worth $49,169,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Abound Wealth Management grew its position in shares of Philip Morris International by 566.7% in the 2nd quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after buying an additional 136 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new position in shares of Philip Morris International in the 1st quarter worth about $30,000. CBIZ Investment Advisory Services LLC raised its position in shares of Philip Morris International by 405.0% in the 1st 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 position in shares of Philip Morris International in the 1st quarter worth about $34,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Philip Morris International in the 1st quarter valued at about $35,000. Institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on PM shares. Wall Street Zen lowered Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Stifel Nicolaus set a $186.00 price target on Philip Morris International in a research note on Tuesday. JPMorgan Chase & Co. lifted their price target on Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Finally, KGI Securities assumed coverage on Philip Morris International in a report on Monday, August 4th. They issued an “outperform” rating for the company. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Philip Morris International currently has an average rating of “Moderate Buy” and an average price target of $195.44.

Philip Morris International Price Performance

NYSE:PM opened at $151.92 on Wednesday. The business has a fifty day simple moving average of $162.81 and a two-hundred day simple moving average of $168.80. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69. The company has a market capitalization of $236.48 billion, a P/E ratio of 28.88, a P/E/G ratio of 2.31 and a beta of 0.46.

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

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were issued a $1.47 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 annualized dividend and a dividend yield of 3.9%. 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.