Philip Morris International Inc. $PM Stake Cut by Cullen Capital Management LLC

Cullen Capital Management LLC lessened its stake in Philip Morris International Inc. (NYSE:PM) by 3.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,198,931 shares of the company’s stock after selling 41,117 shares during the quarter. Philip Morris International accounts for about 2.1% of Cullen Capital Management LLC’s holdings, making the stock its 19th biggest position. Cullen Capital Management LLC owned approximately 0.08% of Philip Morris International worth $194,467,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in PM. Legacy Investment Solutions LLC bought a new position in shares of Philip Morris International during the 2nd quarter valued at $25,000. Traub Capital Management LLC acquired a new position in Philip Morris International during the 2nd quarter valued at $25,000. Marquette Asset Management LLC lifted its stake in shares of Philip Morris International by 1,677.8% in the third quarter. Marquette Asset Management LLC now owns 160 shares of the company’s stock valued at $26,000 after buying an additional 151 shares during the period. Briaud Financial Planning Inc lifted its position in shares of Philip Morris International by 266.7% in the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after acquiring an additional 120 shares during the period. Finally, Estabrook Capital Management acquired a new stake in Philip Morris International during the second quarter worth $30,000. Institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

PM has been the subject of a number of recent research reports. Morgan Stanley set a $175.00 target price on Philip Morris International and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Jefferies Financial Group lowered Philip Morris International from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $220.00 to $180.00 in a research report on Tuesday, January 20th. Stifel Nicolaus set a $180.00 price objective on Philip Morris International in a research note on Tuesday, October 21st. JPMorgan Chase & Co. cut their target price on shares of Philip Morris International from $190.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research note on Thursday, January 22nd. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Philip Morris International presently has a consensus rating of “Moderate Buy” and an average target price of $184.56.

Philip Morris International Trading Up 1.8%

Shares of PM opened at $180.22 on Thursday. The company’s fifty day simple moving average is $162.98 and its 200 day simple moving average is $161.39. The company has a market cap of $280.54 billion, a price-to-earnings ratio of 32.65, a PEG ratio of 1.91 and a beta of 0.39. Philip Morris International Inc. has a 1-year low of $130.31 and a 1-year high of $186.69.

Philip Morris International Announces Dividend

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 dividend of $1.47 per share. The ex-dividend date of this dividend was Friday, December 26th. This represents a $5.88 annualized dividend and a yield of 3.3%. Philip Morris International’s dividend payout ratio (DPR) is currently 106.52%.

Philip Morris International 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.