Philip Morris International Inc. $PM Stock Holdings Reduced by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC reduced its position in Philip Morris International Inc. (NYSE:PM) by 7.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 115,177 shares of the company’s stock after selling 9,032 shares during the period. Beacon Pointe Advisors LLC’s holdings in Philip Morris International were worth $20,977,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in Philip Morris International in the second quarter worth $25,000. Traub Capital Management LLC acquired a new stake in shares of Philip Morris International in the second quarter worth about $25,000. Abound Wealth Management boosted its stake in shares of Philip Morris International by 566.7% during the 2nd quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after acquiring an additional 136 shares in the last quarter. Estabrook Capital Management acquired a new position in shares of Philip Morris International during the 2nd quarter valued at about $30,000. Finally, Briaud Financial Planning Inc raised its stake in shares of Philip Morris International by 266.7% in the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock valued at $30,000 after acquiring an additional 120 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on PM shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Morgan Stanley set a $175.00 price target on Philip Morris International and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. cut their price objective on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. UBS Group decreased their target price on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research note on Friday, September 5th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $189.00.

Philip Morris International Price Performance

NYSE PM opened at $156.14 on Tuesday. The stock’s 50 day simple moving average is $155.56 and its 200 day simple moving average is $166.76. Philip Morris International Inc. has a one year low of $116.12 and a one year high of $186.69. The firm has a market cap of $243.05 billion, a PE ratio of 28.29, a price-to-earnings-growth ratio of 1.86 and a beta of 0.42.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The company had revenue of $8.12 billion for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%. As a group, equities analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Increases Dividend

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

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.