Altrius Capital Management Inc Sells 7,786 Shares of Philip Morris International Inc. $PM

Altrius Capital Management Inc decreased its stake in Philip Morris International Inc. (NYSE:PM) by 17.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 37,717 shares of the company’s stock after selling 7,786 shares during the quarter. Philip Morris International accounts for about 1.4% of Altrius Capital Management Inc’s portfolio, making the stock its 27th largest position. Altrius Capital Management Inc’s holdings in Philip Morris International were worth $6,118,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in PM. Second Line Capital LLC raised its position in Philip Morris International by 4.8% during the second quarter. Second Line Capital LLC now owns 1,338 shares of the company’s stock valued at $245,000 after purchasing an additional 61 shares in the last quarter. Meridian Wealth Partners LLC increased its position in shares of Philip Morris International by 3.1% during the 2nd quarter. Meridian Wealth Partners LLC now owns 2,060 shares of the company’s stock valued at $375,000 after purchasing an additional 62 shares during the last quarter. Bernardo Wealth Planning LLC raised its holdings in shares of Philip Morris International by 1.8% during the 2nd quarter. Bernardo Wealth Planning LLC now owns 3,584 shares of the company’s stock valued at $653,000 after buying an additional 62 shares in the last quarter. Raiffeisen Bank International AG raised its holdings in shares of Philip Morris International by 1.4% during the 2nd quarter. Raiffeisen Bank International AG now owns 4,471 shares of the company’s stock valued at $803,000 after buying an additional 63 shares in the last quarter. Finally, Nia Impact Advisors LLC lifted its position in Philip Morris International by 4.2% in the 2nd quarter. Nia Impact Advisors LLC now owns 1,577 shares of the company’s stock worth $287,000 after buying an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on PM. JPMorgan Chase & Co. reduced their price target on shares of Philip Morris International from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 26th. Stifel Nicolaus set a $180.00 price objective on shares of Philip Morris International in a research note on Tuesday, October 21st. Jefferies Financial Group lowered shares of Philip Morris International from a “buy” rating to a “hold” rating and reduced their target price for the company from $220.00 to $180.00 in a report on Tuesday, January 20th. Wall Street Zen cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $184.56.

Philip Morris International Stock Performance

Shares of PM stock opened at $180.22 on Thursday. Philip Morris International Inc. has a fifty-two week low of $130.31 and a fifty-two week high of $186.69. The firm has a market cap of $280.54 billion, a P/E ratio of 32.65, a P/E/G ratio of 1.91 and a beta of 0.39. The business’s 50 day moving average price is $162.98 and its 200-day moving average price is $161.39.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th were given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, December 26th. Philip Morris International’s payout ratio is presently 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.