Philip Morris International Inc. $PM Holdings Decreased by WCM Investment Management LLC

WCM Investment Management LLC cut its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 0.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 11,270,786 shares of the company’s stock after selling 4,820 shares during the quarter. Philip Morris International makes up 3.8% of WCM Investment Management LLC’s investment portfolio, making the stock its 6th biggest position. WCM Investment Management LLC’s holdings in Philip Morris International were worth $1,837,025,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of PM. SP Asset Management LLC increased its stake in Philip Morris International by 0.5% in the 3rd quarter. SP Asset Management LLC now owns 69,276 shares of the company’s stock worth $11,237,000 after purchasing an additional 324 shares during the period. Atlantic Union Bankshares Corp boosted its holdings in Philip Morris International by 28.1% in the third quarter. Atlantic Union Bankshares Corp now owns 114,571 shares of the company’s stock valued at $18,583,000 after acquiring an additional 25,112 shares in the last quarter. Woodmont Investment Counsel LLC increased its position in shares of Philip Morris International by 4.2% during the third quarter. Woodmont Investment Counsel LLC now owns 5,710 shares of the company’s stock valued at $926,000 after buying an additional 231 shares during the period. Strategy Asset Managers LLC grew its holdings in shares of Philip Morris International by 11.8% during the 3rd quarter. Strategy Asset Managers LLC now owns 42,337 shares of the company’s stock worth $6,867,000 after acquiring an additional 4,465 shares during the period. Finally, State of Wyoming purchased a new stake in Philip Morris International in the third quarter worth $230,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

PM has been the topic of a number of recent research reports. Morgan Stanley set a $175.00 price objective on shares of Philip Morris International and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Stifel Nicolaus set a $180.00 price target on Philip Morris International in a report on Tuesday, October 21st. Wall Street Zen downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research report on Thursday, January 22nd. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.56.

Philip Morris International Price Performance

Shares of PM opened at $179.91 on Tuesday. The firm has a market cap of $280.05 billion, a P/E ratio of 32.59, a price-to-earnings-growth ratio of 1.93 and a beta of 0.40. Philip Morris International Inc. has a 1 year low of $128.25 and a 1 year high of $186.69. The company has a 50 day simple moving average of $162.12 and a two-hundred day simple moving average of $161.27.

Philip Morris International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Friday, December 26th were given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, December 26th. Philip Morris International’s payout ratio is currently 106.52%.

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.