Banque Pictet & Cie SA Sells 33,346 Shares of Philip Morris International Inc. $PM

Banque Pictet & Cie SA reduced its stake in shares of Philip Morris International Inc. (NYSE:PM) by 6.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 451,341 shares of the company’s stock after selling 33,346 shares during the quarter. Philip Morris International makes up approximately 0.4% of Banque Pictet & Cie SA’s investment portfolio, making the stock its 24th largest position. Banque Pictet & Cie SA’s holdings in Philip Morris International were worth $73,208,000 as of its most recent filing with the Securities and Exchange Commission.

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

Philip Morris International Price Performance

Shares of NYSE PM opened at $160.35 on Friday. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69. The business has a fifty day moving average price of $154.55 and a 200 day moving average price of $163.31. The stock has a market capitalization of $249.61 billion, a P/E ratio of 29.05, a price-to-earnings-growth ratio of 1.92 and a beta of 0.40.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. The company 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 research analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have commented on PM shares. The Goldman Sachs Group restated 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 note on Wednesday, October 22nd. Barclays lowered their price objective on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday, November 17th. Stifel Nicolaus set a $180.00 target price on shares of Philip Morris International in a research report on Tuesday, October 21st. Finally, JPMorgan Chase & Co. reduced their price target on shares of Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $189.00.

About Philip Morris International

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.