Envestnet Asset Management Inc. Sells 14,925 Shares of Philip Morris International Inc. $PM

Envestnet Asset Management Inc. trimmed its stake in shares of Philip Morris International Inc. (NYSE:PM) by 0.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,009,976 shares of the company’s stock after selling 14,925 shares during the period. Envestnet Asset Management Inc. owned about 0.39% of Philip Morris International worth $974,818,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC increased its holdings in Philip Morris International by 0.7% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 19,619 shares of the company’s stock worth $3,182,000 after purchasing an additional 128 shares in the last quarter. Premier Path Wealth Partners LLC lifted its holdings in shares of Philip Morris International by 1.3% in the third quarter. Premier Path Wealth Partners LLC now owns 7,047 shares of the company’s stock valued at $1,143,000 after purchasing an additional 93 shares in the last quarter. Westside Investment Management Inc. boosted its position in shares of Philip Morris International by 8.7% during the third quarter. Westside Investment Management Inc. now owns 3,718 shares of the company’s stock worth $602,000 after buying an additional 299 shares during the period. Elm Partners Management LLC acquired a new position in shares of Philip Morris International during the third quarter worth about $243,000. Finally, SP Asset Management LLC grew its holdings in shares of Philip Morris International by 0.5% during the third quarter. SP Asset Management LLC now owns 69,276 shares of the company’s stock worth $11,237,000 after buying an additional 324 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PM has been the topic of several research reports. Morgan Stanley set a $175.00 target price on Philip Morris International and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Wall Street Zen downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Barclays cut their price objective on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a research report on Monday, November 17th. The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $184.56.

Philip Morris International Price Performance

Shares of PM stock opened at $177.02 on Wednesday. The stock has a market cap of $275.56 billion, a P/E ratio of 32.07, a P/E/G ratio of 1.94 and a beta of 0.39. The company has a fifty day moving average price of $162.50 and a two-hundred day moving average price of $161.26. Philip Morris International Inc. has a one year low of $129.91 and a one year high of $186.69.

Philip Morris International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Friday, December 26th were issued a dividend of $1.47 per share. The ex-dividend date was Friday, December 26th. This represents a $5.88 dividend on an annualized basis and a yield of 3.3%. Philip Morris International’s dividend payout ratio (DPR) is presently 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.