Peterson Wealth Services Trims Holdings in Philip Morris International Inc. $PM

Peterson Wealth Services trimmed its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 95.5% in the 3rd quarter, Holdings Channel reports. The firm owned 1,506 shares of the company’s stock after selling 31,727 shares during the quarter. Peterson Wealth Services’ holdings in Philip Morris International were worth $244,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Atlantic Union Bankshares Corp increased its stake in Philip Morris International by 28.1% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 114,571 shares of the company’s stock worth $18,583,000 after buying an additional 25,112 shares during the period. Woodmont Investment Counsel LLC grew its stake in Philip Morris International by 4.2% in the 3rd quarter. Woodmont Investment Counsel LLC now owns 5,710 shares of the company’s stock worth $926,000 after acquiring an additional 231 shares in the last quarter. Strategy Asset Managers LLC grew its stake in Philip Morris International by 11.8% in 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 in the last quarter. State of Wyoming purchased a new position in shares of Philip Morris International during the third quarter worth approximately $230,000. Finally, Convergence Investment Partners LLC raised its stake in shares of Philip Morris International by 2.5% during the third quarter. Convergence Investment Partners LLC now owns 14,814 shares of the company’s stock valued at $2,403,000 after acquiring an additional 359 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Price Performance

Shares of PM stock opened at $177.02 on Wednesday. The stock’s 50-day moving average is $162.50 and its 200 day moving average is $161.26. Philip Morris International Inc. has a 1-year low of $129.91 and a 1-year high of $186.69. The company has a market cap of $275.56 billion, a P/E ratio of 32.07, a PEG ratio of 1.94 and a beta of 0.39.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders 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 was Friday, December 26th. Philip Morris International’s dividend payout ratio (DPR) is currently 106.52%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PM. Barclays dropped their price objective on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a research note on Monday, November 17th. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research note on Thursday, January 22nd. Morgan Stanley set a $175.00 price objective on Philip Morris International and gave the company an “overweight” rating in a report on Wednesday, October 22nd. JPMorgan Chase & Co. dropped their target price on shares of Philip Morris International from $190.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Eleven research 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 has an average rating of “Moderate Buy” and a consensus 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.