Empowered Funds LLC Sells 33,867 Shares of Philip Morris International Inc. $PM

Empowered Funds LLC lessened its holdings in Philip Morris International Inc. (NYSE:PM) by 21.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 126,039 shares of the company’s stock after selling 33,867 shares during the period. Empowered Funds LLC’s holdings in Philip Morris International were worth $22,955,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PM. Brighton Jones LLC lifted its holdings in Philip Morris International by 31.1% during the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock valued at $1,027,000 after buying an additional 2,023 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of Philip Morris International by 4.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock worth $252,000 after acquiring an additional 91 shares during the period. Capstone Wealth Management Group LLC purchased a new position in shares of Philip Morris International during the first quarter worth approximately $238,000. OneAscent Financial Services LLC raised its stake in shares of Philip Morris International by 99.0% during the first quarter. OneAscent Financial Services LLC now owns 6,258 shares of the company’s stock valued at $998,000 after acquiring an additional 3,114 shares in the last quarter. Finally, WNY Asset Management LLC purchased a new stake in shares of Philip Morris International in the first quarter valued at approximately $200,000. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Price Performance

Shares of PM stock opened at $152.78 on Tuesday. The stock’s 50-day moving average is $157.26 and its 200 day moving average is $167.74. 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 cap of $237.82 billion, a P/E ratio of 27.68, a PEG ratio of 2.25 and a beta of 0.43.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. The business had revenue of $8.12 billion during the quarter. On average, analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Friday, October 3rd were issued a $1.47 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Friday, October 3rd. Philip Morris International’s dividend payout ratio is presently 106.52%.

Analyst Upgrades and Downgrades

PM has been the topic of several research reports. Barclays reduced their price objective on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday. Stifel Nicolaus set a $180.00 price target on Philip Morris International in a research note on Tuesday, October 21st. The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. KGI Securities assumed coverage on shares of Philip Morris International in a report on Monday, August 4th. They set an “outperform” rating on the stock. Finally, Wall Street Zen upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Philip Morris International presently has a consensus rating of “Moderate Buy” and an average target price of $189.56.

Philip Morris International Company 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.