Gradient Investments LLC Sells 668 Shares of Philip Morris International Inc. (NYSE:PM)

Gradient Investments LLC lowered its holdings in Philip Morris International Inc. (NYSE:PMGet Rating) by 12.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,882 shares of the company’s stock after selling 668 shares during the period. Gradient Investments LLC’s holdings in Philip Morris International were worth $482,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of PM. GQG Partners LLC lifted its stake in Philip Morris International by 108.1% in the 1st quarter. GQG Partners LLC now owns 29,966,855 shares of the company’s stock worth $2,814,872,000 after purchasing an additional 15,563,879 shares in the last quarter. Capital Research Global Investors lifted its stake in Philip Morris International by 14.7% in the 1st quarter. Capital Research Global Investors now owns 65,871,587 shares of the company’s stock worth $6,187,977,000 after purchasing an additional 8,417,407 shares in the last quarter. State Street Corp increased its holdings in shares of Philip Morris International by 4.3% in the 1st quarter. State Street Corp now owns 58,933,856 shares of the company’s stock worth $5,608,836,000 after buying an additional 2,428,740 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Philip Morris International by 2.6% in the 1st quarter. BlackRock Inc. now owns 96,511,777 shares of the company’s stock worth $9,066,315,000 after buying an additional 2,402,309 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Philip Morris International by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 128,604,996 shares of the company’s stock worth $12,081,153,000 after buying an additional 1,977,553 shares during the last quarter. Institutional investors own 76.00% of the company’s stock.

Analyst Ratings Changes

PM has been the topic of a number of research analyst reports. Jefferies Financial Group decreased their price target on shares of Philip Morris International from $107.00 to $99.00 in a report on Tuesday, July 19th. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Tuesday, July 26th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Philip Morris International has an average rating of “Moderate Buy” and an average price target of $109.13.

Philip Morris International Stock Performance

PM stock opened at $95.92 on Tuesday. Philip Morris International Inc. has a 52 week low of $85.64 and a 52 week high of $112.48. The firm’s fifty day moving average is $96.14 and its 200 day moving average is $98.40. The firm has a market cap of $148.69 billion, a P/E ratio of 16.42, a P/E/G ratio of 3.68 and a beta of 0.62.

Philip Morris International (NYSE:PMGet Rating) last released its earnings results on Thursday, July 21st. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.26 by $0.22. 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 last year, the firm earned $1.57 EPS. The firm’s quarterly revenue was down .1% compared to the same quarter last year. As a group, analysts forecast 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 dividend of $1.27 per share. The ex-dividend date of this dividend is Tuesday, September 27th. This represents a $5.08 annualized dividend and a dividend yield of 5.30%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.25. Philip Morris International’s dividend payout ratio (DPR) is currently 85.91%.

Philip Morris International Profile

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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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