Philip Morris International Inc. $PM Shares Sold by 683 Capital Management LLC

683 Capital Management LLC reduced its stake in Philip Morris International Inc. (NYSE:PM) by 93.8% in the second quarter, HoldingsChannel.com reports. The fund owned 10,000 shares of the company’s stock after selling 150,000 shares during the quarter. 683 Capital Management LLC’s holdings in Philip Morris International were worth $1,821,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Philip Morris International by 1.6% in the second quarter. Vanguard Group Inc. now owns 142,857,055 shares of the company’s stock worth $26,018,555,000 after buying an additional 2,235,380 shares during the period. State Street Corp grew its position in shares of Philip Morris International by 1.6% during the second quarter. State Street Corp now owns 55,831,655 shares of the company’s stock worth $10,243,429,000 after acquiring an additional 871,165 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Philip Morris International by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 37,181,107 shares of the company’s stock worth $6,760,346,000 after acquiring an additional 672,983 shares during the period. Wellington Management Group LLP increased its holdings in shares of Philip Morris International by 26.4% in the 1st quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock worth $3,466,730,000 after acquiring an additional 4,563,632 shares during the period. Finally, WCM Investment Management LLC lifted its position in Philip Morris International by 24,968.0% in the 2nd quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock valued at $2,041,223,000 after purchasing an additional 11,230,626 shares during the last quarter. 78.63% of the stock is owned by institutional investors.

Philip Morris International Price Performance

NYSE PM opened at $153.49 on Friday. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69. The firm has a market capitalization of $238.93 billion, a PE ratio of 27.81, a P/E/G ratio of 1.80 and a beta of 0.42. The company’s 50 day simple moving average is $153.62 and its 200 day simple moving average is $165.35.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The firm had revenue of $8.12 billion during the quarter. Sell-side analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share 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. Investors of record on Friday, December 26th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, December 26th. Philip Morris International’s payout ratio is presently 106.52%.

Analyst Upgrades and Downgrades

PM has been the subject of several recent analyst reports. Citigroup restated a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Wall Street Zen upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, November 17th. Morgan Stanley set a $175.00 price objective on Philip Morris International and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Finally, UBS Group reduced their price target on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research report on Friday, September 5th. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average price target of $189.00.

Philip Morris International 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.