Philip Morris International Inc. $PM Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its position in Philip Morris International Inc. (NYSE:PM) by 23.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,825,908 shares of the company’s stock after selling 2,071,691 shares during the period. Massachusetts Financial Services Co. MA owned about 0.44% of Philip Morris International worth $1,107,162,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in Philip Morris International in the 2nd quarter worth approximately $25,000. Traub Capital Management LLC acquired a new stake in shares of Philip Morris International during the second quarter worth $25,000. Marquette Asset Management LLC grew its position in shares of Philip Morris International by 1,677.8% in the third quarter. Marquette Asset Management LLC now owns 160 shares of the company’s stock valued at $26,000 after purchasing an additional 151 shares during the period. Abound Wealth Management lifted its position in Philip Morris International by 566.7% during the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after buying an additional 136 shares during the period. Finally, Briaud Financial Planning Inc boosted its stake in Philip Morris International by 266.7% in the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after buying an additional 120 shares during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Price Performance

Philip Morris International stock opened at $173.66 on Friday. Philip Morris International Inc. has a 12-month low of $119.30 and a 12-month high of $186.69. The company has a market capitalization of $270.33 billion, a price-to-earnings ratio of 31.46, a price-to-earnings-growth ratio of 1.87 and a beta of 0.40. The firm’s fifty day moving average price is $157.72 and its 200 day moving average price is $161.76.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Friday, October 24th. The company reported $2.24 earnings per share for the quarter, beating 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 analysts’ expectations of $10.67 billion. During the same period in the prior year, the company posted $1.91 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. Analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th were issued a dividend of $1.47 per share. The ex-dividend date was Friday, December 26th. This represents a $5.88 annualized dividend and a yield of 3.4%. Philip Morris International’s payout ratio is currently 106.52%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PM. Barclays decreased 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 research report on Monday, November 17th. Wall Street Zen cut Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Finally, Morgan Stanley set a $175.00 price objective on shares of Philip Morris International and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Philip Morris International currently has an average rating of “Moderate Buy” and an average target price of $189.00.

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.