WCM Investment Management LLC Sells 4,820 Shares of Philip Morris International Inc. $PM

WCM Investment Management LLC lessened its stake in Philip Morris International Inc. (NYSE:PM) by 0.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,270,786 shares of the company’s stock after selling 4,820 shares during the quarter. Philip Morris International comprises 3.8% of WCM Investment Management LLC’s investment portfolio, making the stock its 6th biggest position. WCM Investment Management LLC owned 0.72% of Philip Morris International worth $1,837,025,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Corient Private Wealth LLC increased its stake in shares of 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 buying an additional 5,681 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Philip Morris International by 10.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 549,481 shares of the company’s stock worth $84,922,000 after buying an additional 51,399 shares during the last quarter. Dynasty Wealth Management LLC raised its position in shares of Philip Morris International by 53.0% in the 3rd quarter. Dynasty Wealth Management LLC now owns 27,772 shares of the company’s stock worth $4,505,000 after acquiring an additional 9,622 shares in the last quarter. Westwood Holdings Group Inc. increased its holdings in Philip Morris International by 295.8% in the second quarter. Westwood Holdings Group Inc. now owns 67,717 shares of the company’s stock worth $12,333,000 after purchasing an additional 50,610 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in shares of Philip Morris International by 88.9% during the 2nd 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 period. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Price Performance

PM opened at $179.91 on Tuesday. The firm has a market capitalization of $280.05 billion, a P/E ratio of 32.59, a price-to-earnings-growth ratio of 1.93 and a beta of 0.40. Philip Morris International Inc. has a one year low of $128.25 and a one year high of $186.69. The company has a fifty day moving average price of $162.12 and a 200-day moving average price of $161.27.

Philip Morris International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders 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 (DPR) is presently 106.52%.

Analysts Set New Price Targets

A number of equities research analysts have commented on PM shares. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research note on Thursday, January 22nd. The Goldman Sachs Group reiterated a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Jefferies Financial Group lowered Philip Morris International from a “buy” rating to a “hold” rating and dropped their price target for the stock from $220.00 to $180.00 in a report on Tuesday, January 20th. Stifel Nicolaus set a $180.00 target price on shares of Philip Morris International in a research note on Tuesday, October 21st. Finally, Wall Street Zen cut Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $184.56.

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.