Philip Morris International Inc. $PM Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 4.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 487,884 shares of the company’s stock after selling 20,282 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Philip Morris International were worth $79,197,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. PFS Partners LLC lifted its stake in Philip Morris International by 24.8% during the 2nd quarter. PFS Partners LLC now owns 292 shares of the company’s stock valued at $53,000 after acquiring an additional 58 shares during the period. Uncommon Cents Investing LLC raised its holdings in shares of Philip Morris International by 1.1% during the second 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 during the last quarter. Second Line Capital LLC lifted 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 during the period. Meridian Wealth Partners LLC lifted its position 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 valued at $375,000 after purchasing an additional 62 shares during the period. Finally, Bernardo Wealth Planning LLC boosted its holdings in Philip Morris International by 1.8% in the second quarter. Bernardo Wealth Planning LLC now owns 3,584 shares of the company’s stock valued at $653,000 after purchasing an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

PM has been the subject of several analyst reports. The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Morgan Stanley set a $175.00 price target on Philip Morris International and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Stifel Nicolaus set a $180.00 price objective on Philip Morris International in a research report on Tuesday, October 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a research note on Thursday. Finally, Jefferies Financial Group lowered shares of Philip Morris International from a “buy” rating to a “hold” rating and cut their target price for the company from $220.00 to $180.00 in a report on Tuesday. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $184.56.

Philip Morris International Trading Up 1.8%

NYSE PM opened at $173.06 on Friday. The stock has a market capitalization of $269.39 billion, a price-to-earnings ratio of 31.35, a PEG ratio of 1.83 and a beta of 0.40. The stock has a 50-day moving average of $159.22 and a 200 day moving average of $161.60. Philip Morris International Inc. has a twelve month low of $125.53 and a twelve month high of $186.69.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Friday, October 24th. The company reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.14. The business had revenue of $10.85 billion during the quarter, compared to analysts’ expectations of $10.67 billion. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The business’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.91 earnings per share. Equities analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Friday, December 26th were issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.4%. 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.