Cullen Capital Management LLC Reduces Position in Philip Morris International Inc. $PM

Cullen Capital Management LLC decreased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 4.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,240,048 shares of the company’s stock after selling 52,460 shares during the quarter. Philip Morris International comprises 2.6% of Cullen Capital Management LLC’s holdings, making the stock its 11th biggest position. Cullen Capital Management LLC owned approximately 0.08% of Philip Morris International worth $225,850,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new position in Philip Morris International in the 2nd quarter worth $25,000. Traub Capital Management LLC purchased a new stake in Philip Morris International during the 2nd quarter valued at about $25,000. Abound Wealth Management increased its holdings in shares of Philip Morris International by 566.7% in the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after purchasing an additional 136 shares during the period. Estabrook Capital Management purchased a new position in shares of Philip Morris International in the second quarter worth about $30,000. Finally, Briaud Financial Planning Inc raised its stake in shares of Philip Morris International by 266.7% in the second quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after purchasing an additional 120 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Stock Performance

Shares of PM opened at $153.49 on Monday. Philip Morris International Inc. has a one year low of $116.12 and a one year high of $186.69. The stock has a market capitalization of $238.93 billion, a price-to-earnings ratio of 27.81, a PEG ratio of 1.83 and a beta of 0.42. The stock has a 50 day moving average price of $153.62 and a 200 day moving average price of $165.16.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The company had revenue of $8.12 billion during the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. On average, analysts predict that Philip Morris International Inc. will post 7.14 earnings per share 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 given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.8%. The ex-dividend date is Friday, December 26th. Philip Morris International’s dividend payout ratio is presently 106.52%.

Wall Street Analyst Weigh In

PM has been the topic of several research reports. Morgan Stanley set a $175.00 price target on shares of Philip Morris International and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. UBS Group cut their price objective on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a research note on Friday, September 5th. Wall Street Zen upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, November 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Finally, Barclays reduced their price target on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a research report on Monday, November 17th. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company 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 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 primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.