Hillsdale Investment Management Inc. decreased its position in Philip Morris International Inc. (NYSE:PM – Free Report) by 30.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,161 shares of the company’s stock after selling 5,760 shares during the period. Hillsdale Investment Management Inc.’s holdings in Philip Morris International were worth $2,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also added to or reduced their stakes in the company. Second Line Capital LLC increased its stake in shares of Philip Morris International by 4.8% in the second quarter. Second Line Capital LLC now owns 1,338 shares of the company’s stock worth $245,000 after acquiring an additional 61 shares during the period. Meridian Wealth Partners LLC raised its stake in shares of Philip Morris International by 3.1% during the 2nd quarter. Meridian Wealth Partners LLC now owns 2,060 shares of the company’s stock valued at $375,000 after buying an additional 62 shares during the last quarter. Bernardo Wealth Planning LLC raised its stake in shares of Philip Morris International by 1.8% during the 2nd quarter. Bernardo Wealth Planning LLC now owns 3,584 shares of the company’s stock valued at $653,000 after buying an additional 62 shares during the last quarter. Raiffeisen Bank International AG lifted its holdings in shares of Philip Morris International by 1.4% in the 2nd quarter. Raiffeisen Bank International AG now owns 4,471 shares of the company’s stock valued at $803,000 after buying an additional 63 shares during the period. Finally, Nia Impact Advisors LLC boosted its stake in shares of Philip Morris International by 4.2% in the second quarter. Nia Impact Advisors LLC now owns 1,577 shares of the company’s stock worth $287,000 after buying an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.
Philip Morris International Trading Down 0.1%
PM stock opened at $183.35 on Monday. The firm has a 50-day moving average of $170.72 and a two-hundred day moving average of $163.06. Philip Morris International Inc. has a 12 month low of $142.11 and a 12 month high of $190.98. The company has a market cap of $285.41 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 2.09 and a beta of 0.39.
Philip Morris International Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Friday, December 26th were issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, December 26th. Philip Morris International’s payout ratio is currently 80.88%.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on PM. Barclays lowered their price target on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday, November 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research report on Thursday, January 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. Citigroup upped their price objective on shares of Philip Morris International from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Finally, UBS Group reaffirmed a “neutral” rating and set a $181.50 price objective on shares of Philip Morris International in a report on Monday, February 9th. Eleven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.06.
Read Our Latest Stock Analysis on Philip Morris International
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.
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