Newfound Research LLC Sells 500 Shares of Philip Morris International Inc. (NYSE:PM)

Newfound Research LLC decreased its holdings in Philip Morris International Inc. (NYSE:PMGet Rating) by 36.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 862 shares of the company’s stock after selling 500 shares during the quarter. Newfound Research LLC’s holdings in Philip Morris International were worth $85,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Rockefeller Capital Management L.P. lifted its holdings in Philip Morris International by 1.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 105,113 shares of the company’s stock valued at $9,985,000 after buying an additional 1,435 shares during the period. Mutual Advisors LLC lifted its holdings in Philip Morris International by 7.6% in the fourth quarter. Mutual Advisors LLC now owns 27,024 shares of the company’s stock valued at $2,567,000 after buying an additional 1,915 shares during the period. Blair William & Co. IL lifted its holdings in Philip Morris International by 13.2% in the fourth quarter. Blair William & Co. IL now owns 121,192 shares of the company’s stock valued at $11,513,000 after buying an additional 14,130 shares during the period. Jag Capital Management LLC lifted its holdings in Philip Morris International by 19.1% in the fourth quarter. Jag Capital Management LLC now owns 4,010 shares of the company’s stock valued at $381,000 after buying an additional 642 shares during the period. Finally, IHT Wealth Management LLC lifted its holdings in Philip Morris International by 22.0% in the fourth quarter. IHT Wealth Management LLC now owns 7,069 shares of the company’s stock valued at $672,000 after buying an additional 1,274 shares during the period. Institutional investors own 76.00% of the company’s stock.

Philip Morris International Stock Performance

Shares of NYSE PM traded down $4.79 during trading on Friday, hitting $91.00. 129,115 shares of the company traded hands, compared to its average volume of 3,687,014. The business’s fifty day moving average is $96.48 and its 200 day moving average is $98.36. Philip Morris International Inc. has a fifty-two week low of $85.64 and a fifty-two week high of $112.48. The firm has a market capitalization of $141.06 billion, a price-to-earnings ratio of 16.08, a P/E/G ratio of 3.72 and a beta of 0.62.

Philip Morris International (NYSE:PMGet Rating) last posted its earnings results on Thursday, July 21st. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.24. Philip Morris International had a net margin of 11.05% and a negative return on equity of 115.36%. The company had revenue of $7.83 billion for the quarter, compared to analyst estimates of $6.76 billion. During the same quarter in the prior year, the business posted $1.57 EPS. The firm’s revenue was down .1% compared to the same quarter last year. On average, analysts predict that Philip Morris International Inc. will post 5.99 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 12th. Investors of record on Wednesday, September 28th will be issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.58%. The ex-dividend date is Tuesday, September 27th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.25. Philip Morris International’s dividend payout ratio is currently 85.91%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PM shares. Jefferies Financial Group dropped their target price on shares of Philip Morris International from $107.00 to $99.00 in a report on Tuesday, July 19th. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Tuesday, July 26th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and a consensus price target of $109.13.

About Philip Morris International

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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 that are sold in markets outside the United States.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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