Mutual of America Capital Management LLC Lowers Position in Philip Morris International Inc. $PM

Mutual of America Capital Management LLC trimmed its position in shares of Philip Morris International Inc. (NYSE:PM) by 5.2% during the third quarter, Holdings Channel.com reports. The fund owned 187,413 shares of the company’s stock after selling 10,248 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Philip Morris International were worth $30,398,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PM. Corient Private Wealth LLC lifted its stake in Philip Morris International by 1.2% in the second quarter. Corient Private Wealth LLC now owns 490,590 shares of the company’s stock valued at $89,354,000 after purchasing an additional 5,681 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Philip Morris International by 10.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 549,481 shares of the company’s stock worth $84,922,000 after buying an additional 51,399 shares during the last quarter. Dynasty Wealth Management LLC raised its stake in shares of Philip Morris International by 53.0% in the third quarter. Dynasty Wealth Management LLC now owns 27,772 shares of the company’s stock valued at $4,505,000 after buying an additional 9,622 shares during the period. Westwood Holdings Group Inc. lifted its position in shares of Philip Morris International by 295.8% during the 2nd quarter. Westwood Holdings Group Inc. now owns 67,717 shares of the company’s stock valued at $12,333,000 after buying an additional 50,610 shares during the last quarter. Finally, Prudential Financial Inc. grew its stake in shares of Philip Morris International by 88.9% during the 2nd quarter. Prudential Financial Inc. now owns 2,138,118 shares of the company’s stock worth $389,415,000 after acquiring an additional 1,006,014 shares during the period. Institutional investors own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research note on Thursday. Morgan Stanley set a $175.00 target price on shares of Philip Morris International and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Stifel Nicolaus set a $180.00 price target on shares of Philip Morris International in a research report on Tuesday, October 21st. JPMorgan Chase & Co. cut their price objective on shares of Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Finally, Barclays reduced their price objective on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday, November 17th. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $184.56.

Philip Morris International Stock Performance

Philip Morris International stock opened at $173.06 on Monday. Philip Morris International Inc. has a fifty-two week low of $125.53 and a fifty-two week high of $186.69. The stock has a market cap of $269.39 billion, a P/E ratio of 31.35, a PEG ratio of 1.86 and a beta of 0.40. The firm’s fifty day moving average price is $159.22 and its 200-day moving average price is $161.37.

Philip Morris International Announces Dividend

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

About Philip Morris International

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.