Keating Investment Counselors Inc. Cuts Stake in Philip Morris International Inc. $PM

Keating Investment Counselors Inc. lowered its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 26.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 24,129 shares of the company’s stock after selling 8,710 shares during the period. Philip Morris International comprises about 1.1% of Keating Investment Counselors Inc.’s investment portfolio, making the stock its 22nd biggest position. Keating Investment Counselors Inc.’s holdings in Philip Morris International were worth $3,914,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. PFS Partners LLC increased its holdings in shares of Philip Morris International by 24.8% in the second quarter. PFS Partners LLC now owns 292 shares of the company’s stock worth $53,000 after buying an additional 58 shares during the period. Uncommon Cents Investing LLC grew its position 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 worth $1,032,000 after acquiring an additional 61 shares during the last quarter. Second Line Capital LLC increased its stake in Philip Morris International by 4.8% in the 2nd quarter. Second Line Capital LLC now owns 1,338 shares of the company’s stock worth $245,000 after purchasing an additional 61 shares during the period. Cranbrook Wealth Management LLC lifted its position in Philip Morris International by 6.5% in the second quarter. Cranbrook Wealth Management LLC now owns 1,014 shares of the company’s stock valued at $185,000 after purchasing an additional 62 shares during the last quarter. Finally, Meridian Wealth Partners LLC boosted its stake in shares of Philip Morris International by 3.1% during the second quarter. Meridian Wealth Partners LLC now owns 2,060 shares of the company’s stock valued at $375,000 after purchasing an additional 62 shares during the period. 78.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Barclays cut their target price on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday, November 17th. JPMorgan Chase & Co. cut their price target on shares of Philip Morris International from $190.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. Morgan Stanley set a $175.00 price objective on shares of Philip Morris International and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. The Goldman Sachs Group reiterated a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Finally, Stifel Nicolaus set a $180.00 target price on Philip Morris International in a research note on Tuesday, October 21st. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Philip Morris International presently has a consensus rating of “Moderate Buy” and a consensus price target of $189.00.

Philip Morris International Trading Up 0.5%

Shares of PM opened at $165.91 on Wednesday. The firm’s 50-day moving average price is $156.41 and its 200-day moving average price is $161.79. The firm has a market capitalization of $258.26 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 1.78 and a beta of 0.40. Philip Morris International Inc. has a 1-year low of $117.18 and a 1-year high of $186.69.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Friday, October 24th. The company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.14. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. The company had revenue of $10.85 billion during the quarter, compared to the consensus estimate of $10.67 billion. During the same period in the prior year, the firm earned $1.91 earnings per share. Philip Morris International’s revenue was up 9.4% on a year-over-year basis. On average, research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Friday, December 26th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Friday, December 26th. Philip Morris International’s dividend payout ratio (DPR) is presently 106.52%.

Philip Morris International Company Profile

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.