Envestnet Asset Management Inc. Has $974.82 Million Position in Philip Morris International Inc. $PM

Envestnet Asset Management Inc. decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 0.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,009,976 shares of the company’s stock after selling 14,925 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Philip Morris International were worth $974,818,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PM. Legacy Investment Solutions LLC acquired a new position in Philip Morris International in the 2nd quarter valued at about $25,000. Traub Capital Management LLC acquired a new stake in Philip Morris International during the second quarter worth approximately $25,000. Marquette Asset Management LLC boosted its holdings in shares of Philip Morris International by 1,677.8% during the third quarter. Marquette Asset Management LLC now owns 160 shares of the company’s stock worth $26,000 after acquiring an additional 151 shares during the period. Estabrook Capital Management acquired a new position in shares of Philip Morris International in the second quarter valued at approximately $30,000. Finally, Briaud Financial Planning Inc increased its stake in shares of Philip Morris International by 266.7% during the second quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after purchasing an additional 120 shares during the period. 78.63% of the stock is owned by institutional investors.

Philip Morris International Trading Down 1.6%

Shares of NYSE:PM opened at $177.02 on Wednesday. The firm has a 50 day moving average of $162.50 and a 200-day moving average of $161.26. Philip Morris International Inc. has a 12 month low of $129.91 and a 12 month high of $186.69. The stock has a market capitalization of $275.56 billion, a PE ratio of 32.07, a PEG ratio of 1.94 and a beta of 0.39.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th were issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, December 26th. Philip Morris International’s dividend payout ratio (DPR) is currently 106.52%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PM shares. Wall Street Zen downgraded Philip Morris International from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Jefferies Financial Group downgraded Philip Morris International from a “buy” rating to a “hold” rating and dropped their target price for the stock from $220.00 to $180.00 in a report on Tuesday, January 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research report on Thursday, January 22nd. Barclays lowered their price target on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a research report on Monday, November 17th. Finally, Morgan Stanley set a $175.00 price objective on shares of Philip Morris International and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Philip Morris International presently has an average rating of “Moderate Buy” and an average target price of $184.56.

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.