Buckley Wealth Management LLC Lowers Stock Position in Philip Morris International Inc. (NYSE:PM)

Buckley Wealth Management LLC cut its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 18.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,877 shares of the company’s stock after selling 3,945 shares during the period. Buckley Wealth Management LLC’s holdings in Philip Morris International were worth $1,281,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PM. Nuveen Asset Management LLC grew its position in Philip Morris International by 23,232.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 11,295,814 shares of the company’s stock valued at $887,059,000 after buying an additional 11,247,401 shares during the last quarter. Invesco Ltd. grew its position in Philip Morris International by 41.5% in the 2nd quarter. Invesco Ltd. now owns 30,080,523 shares of the company’s stock valued at $2,362,224,000 after buying an additional 8,824,567 shares during the last quarter. Morgan Stanley grew its position in Philip Morris International by 16.9% in the 2nd quarter. Morgan Stanley now owns 34,485,714 shares of the company’s stock valued at $2,708,164,000 after buying an additional 4,998,070 shares during the last quarter. BlackRock Inc. grew its position in Philip Morris International by 5.1% in the 2nd quarter. BlackRock Inc. now owns 100,831,956 shares of the company’s stock valued at $7,918,335,000 after buying an additional 4,879,296 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Philip Morris International by 56.3% in the 2nd quarter. AQR Capital Management LLC now owns 4,619,770 shares of the company’s stock valued at $360,204,000 after buying an additional 1,663,264 shares during the last quarter. Institutional investors and hedge funds own 74.11% of the company’s stock.

In other Philip Morris International news, insider Mario Masseroli sold 1,100 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $87.42, for a total value of $96,162.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.21% of the stock is owned by corporate insiders.

PM has been the topic of a number of analyst reports. JPMorgan Chase & Co. set a $86.00 price objective on shares of Philip Morris International and gave the company a “neutral” rating in a research report on Wednesday, August 28th. Credit Suisse Group set a $80.00 price objective on shares of Philip Morris International and gave the company a “sell” rating in a research report on Wednesday, August 28th. ValuEngine lowered shares of Philip Morris International from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Wells Fargo & Co set a $102.00 price objective on shares of Philip Morris International and gave the company a “buy” rating in a research report on Monday, August 26th. Finally, Bank of America upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and set a $96.00 price objective on the stock in a research report on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $93.92.

Shares of NYSE:PM traded up $0.20 during trading on Friday, reaching $77.95. 6,288,950 shares of the stock were exchanged, compared to its average volume of 8,054,017. Philip Morris International Inc. has a 12-month low of $64.67 and a 12-month high of $92.74. The firm has a market cap of $118.82 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 1.87 and a beta of 1.00. The firm’s 50-day moving average price is $74.99 and its 200 day moving average price is $81.14.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, July 18th. The company reported $1.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.13. The firm had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.42 billion. Philip Morris International had a negative return on equity of 80.96% and a net margin of 10.03%. Philip Morris International’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.41 EPS. On average, analysts expect that Philip Morris International Inc. will post 5.2 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Wednesday, September 25th will be issued a $1.17 dividend. This represents a $4.68 dividend on an annualized basis and a yield of 6.00%. The ex-dividend date of this dividend is Tuesday, September 24th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.14. Philip Morris International’s dividend payout ratio is currently 91.76%.

About Philip Morris International

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.

Further Reading: Forex

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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