Amalgamated Bank Sells 5,938 Shares of Philip Morris International Inc. $PM

Amalgamated Bank trimmed its position in shares of Philip Morris International Inc. (NYSE:PM) by 1.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 331,830 shares of the company’s stock after selling 5,938 shares during the quarter. Amalgamated Bank’s holdings in Philip Morris International were worth $53,823,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its position in shares of Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock worth $1,027,000 after acquiring an additional 2,023 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in Philip Morris International by 4.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock valued at $252,000 after purchasing an additional 91 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in Philip Morris International by 53.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,636 shares of the company’s stock worth $1,027,000 after purchasing an additional 1,970 shares in the last quarter. Focus Financial Network Inc. raised its stake in shares of Philip Morris International by 11.1% in the second quarter. Focus Financial Network Inc. now owns 5,847 shares of the company’s stock worth $1,065,000 after purchasing an additional 583 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group bought a new position in shares of Philip Morris International in the second quarter valued at approximately $205,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Morgan Stanley set a $175.00 target price on shares of Philip Morris International and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Stifel Nicolaus set a $180.00 target price on shares of Philip Morris International in a research report on Tuesday, October 21st. Finally, Wall Street Zen lowered Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $189.00.

Philip Morris International Stock Up 0.6%

Shares of NYSE PM opened at $173.66 on Friday. The firm has a 50-day simple moving average of $157.72 and a 200-day simple moving average of $161.76. The stock has a market capitalization of $270.33 billion, a price-to-earnings ratio of 31.46, a price-to-earnings-growth ratio of 1.87 and a beta of 0.40. Philip Morris International Inc. has a 52 week low of $119.30 and a 52 week high of $186.69.

Philip Morris International (NYSE:PM) last posted its earnings results on Friday, October 24th. The company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.14. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. The company had revenue of $10.85 billion for the quarter, compared to analyst estimates of $10.67 billion. During the same period in the previous year, the business posted $1.91 EPS. Philip Morris International’s revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts expect 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 was paid on Wednesday, January 14th. Stockholders of record on Friday, December 26th were given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, December 26th. Philip Morris International’s dividend payout ratio is currently 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.