Philip Morris International Inc. $PM Stock Position Lowered by Verity Asset Management Inc.

Verity Asset Management Inc. decreased its position in Philip Morris International Inc. (NYSE:PM) by 47.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 13,483 shares of the company’s stock after selling 11,951 shares during the period. Philip Morris International makes up about 1.2% of Verity Asset Management Inc.’s investment portfolio, making the stock its 20th largest position. Verity Asset Management Inc.’s holdings in Philip Morris International were worth $2,456,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Linscomb Wealth Inc. boosted its holdings in shares of Philip Morris International by 3.3% during the first quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company’s stock worth $13,207,000 after purchasing an additional 2,669 shares during the period. Mackenzie Financial Corp increased its stake in Philip Morris International by 7.3% in the 1st quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company’s stock valued at $568,873,000 after buying an additional 242,799 shares during the period. 49 Wealth Management LLC lifted its position in Philip Morris International by 79.0% in the 1st quarter. 49 Wealth Management LLC now owns 5,334 shares of the company’s stock worth $847,000 after buying an additional 2,354 shares in the last quarter. Cortland Associates Inc. MO boosted its stake in shares of Philip Morris International by 704.0% during the 1st quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company’s stock valued at $22,690,000 after buying an additional 125,171 shares during the period. Finally, First American Trust FSB boosted its stake in shares of Philip Morris International by 80.0% during the 1st quarter. First American Trust FSB now owns 56,382 shares of the company’s stock valued at $8,949,000 after buying an additional 25,063 shares during the period. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Price Performance

Shares of NYSE:PM opened at $144.33 on Monday. The stock has a market capitalization of $224.67 billion, a P/E ratio of 26.15, a P/E/G ratio of 2.09 and a beta of 0.43. The business has a 50-day moving average of $160.05 and a two-hundred day moving average of $168.92. 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 quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The business had revenue of $8.12 billion for the quarter. As a group, research analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal 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 given a $1.47 dividend. This is a positive change 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 4.1%. The ex-dividend date of this dividend was Friday, October 3rd. Philip Morris International’s payout ratio is 106.52%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Morgan Stanley set a $175.00 price target on shares of Philip Morris International and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. UBS Group lowered their price target on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research note on Friday, September 5th. Finally, Jefferies Financial Group began coverage on Philip Morris International in a report on Wednesday, July 9th. They issued a “buy” rating and a $220.00 price objective on the stock. Twelve investment 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $194.00.

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.