Bank of New York Mellon Corp Lowers Position in Philip Morris International Inc. $PM

Bank of New York Mellon Corp lessened its stake in Philip Morris International Inc. (NYSE:PM) by 5.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,428,841 shares of the company’s stock after selling 792,804 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.86% of Philip Morris International worth $2,178,158,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of PM. Corient Private Wealth LLC boosted its stake in Philip Morris International by 1.2% in the second quarter. Corient Private Wealth LLC now owns 490,590 shares of the company’s stock valued at $89,354,000 after acquiring an additional 5,681 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Philip Morris International by 10.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 549,481 shares of the company’s stock valued at $84,922,000 after purchasing an additional 51,399 shares during the last quarter. Dynasty Wealth Management LLC lifted its stake in Philip Morris International by 53.0% in the third quarter. Dynasty Wealth Management LLC now owns 27,772 shares of the company’s stock valued at $4,505,000 after purchasing an additional 9,622 shares during the last quarter. Westwood Holdings Group Inc. grew its holdings in Philip Morris International by 295.8% during the second quarter. Westwood Holdings Group Inc. now owns 67,717 shares of the company’s stock valued at $12,333,000 after purchasing an additional 50,610 shares during the period. Finally, Prudential Financial Inc. increased its position in Philip Morris International by 88.9% in the second quarter. Prudential Financial Inc. now owns 2,138,118 shares of the company’s stock worth $389,415,000 after buying an additional 1,006,014 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Trading Up 2.0%

PM stock opened at $179.23 on Wednesday. The firm has a 50 day moving average of $160.14 and a 200-day moving average of $161.33. The firm has a market capitalization of $278.99 billion, a P/E ratio of 32.47, a price-to-earnings-growth ratio of 1.89 and a beta of 0.40. Philip Morris International Inc. has a 12 month low of $128.25 and a 12 month high of $186.69.

Philip Morris International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Friday, December 26th were issued a $1.47 dividend. The ex-dividend date of this dividend was Friday, December 26th. This represents a $5.88 annualized dividend and a dividend yield of 3.3%. Philip Morris International’s dividend payout ratio is presently 106.52%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PM shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a research report on Thursday, January 22nd. Stifel Nicolaus set a $180.00 target price on shares of Philip Morris International in a research report on Tuesday, October 21st. The Goldman Sachs Group reiterated a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Jefferies Financial Group cut shares of Philip Morris International from a “buy” rating to a “hold” rating and dropped their price target for the company from $220.00 to $180.00 in a research note on Tuesday, January 20th. Finally, Morgan Stanley set a $175.00 price objective on shares of Philip Morris International and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Philip Morris International has an average rating of “Moderate Buy” and a consensus price target of $184.56.

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.