Patton Fund Management Inc. Has $264,000 Holdings in Philip Morris International Inc. $PM

Patton Fund Management Inc. decreased its holdings in Philip Morris International Inc. (NYSE:PM) by 91.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,629 shares of the company’s stock after selling 18,483 shares during the period. Patton Fund Management Inc.’s holdings in Philip Morris International were worth $264,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PM. PFS Partners LLC grew its position in Philip Morris International by 24.8% during the second quarter. PFS Partners LLC now owns 292 shares of the company’s stock worth $53,000 after buying an additional 58 shares in the last quarter. Uncommon Cents Investing LLC grew its holdings in shares of Philip Morris International by 1.1% during the 2nd quarter. Uncommon Cents Investing LLC now owns 5,666 shares of the company’s stock worth $1,032,000 after purchasing an additional 61 shares in the last quarter. Second Line Capital LLC increased its position in shares of Philip Morris International by 4.8% in the second quarter. Second Line Capital LLC now owns 1,338 shares of the company’s stock worth $245,000 after purchasing an additional 61 shares during the period. Cranbrook Wealth Management LLC raised its stake in Philip Morris International by 6.5% in the second quarter. Cranbrook Wealth Management LLC now owns 1,014 shares of the company’s stock valued at $185,000 after purchasing an additional 62 shares in the last quarter. Finally, Meridian Wealth Partners LLC grew its stake in Philip Morris International by 3.1% during the second quarter. Meridian Wealth Partners LLC now owns 2,060 shares of the company’s stock worth $375,000 after buying an additional 62 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Performance

Shares of PM opened at $159.54 on Tuesday. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69. The stock has a market capitalization of $248.35 billion, a price-to-earnings ratio of 28.90, a PEG ratio of 1.87 and a beta of 0.42. The stock has a fifty day moving average of $153.79 and a 200-day moving average of $164.20.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. The business had revenue of $8.12 billion for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%. As a group, equities analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 14th. Investors of record on Friday, December 26th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, December 26th. Philip Morris International’s dividend payout ratio (DPR) is 106.52%.

Wall Street Analysts Forecast Growth

PM has been the subject of a number of recent analyst reports. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. Stifel Nicolaus set a $180.00 target price on Philip Morris International in a report on Tuesday, October 21st. JPMorgan Chase & Co. lowered their price target on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Wall Street Zen raised Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, November 17th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $189.00.

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.