Philip Morris International Inc. $PM Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. trimmed its position in Philip Morris International Inc. (NYSE:PM) by 4.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 487,884 shares of the company’s stock after selling 20,282 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Philip Morris International were worth $79,197,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Brighton Jones LLC increased its position in shares of Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock worth $1,027,000 after purchasing an additional 2,023 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in Philip Morris International by 4.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock valued at $252,000 after purchasing an additional 91 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in Philip Morris International by 53.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,636 shares of the company’s stock worth $1,027,000 after purchasing an additional 1,970 shares during the last quarter. Sheets Smith Wealth Management grew its holdings in shares of Philip Morris International by 6.1% during the second quarter. Sheets Smith Wealth Management now owns 2,050 shares of the company’s stock worth $373,000 after buying an additional 118 shares in the last quarter. Finally, McAdam LLC grew its holdings in shares of Philip Morris International by 18.6% during the second quarter. McAdam LLC now owns 5,624 shares of the company’s stock worth $1,024,000 after buying an additional 881 shares in the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Philip Morris International from $190.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a report on Thursday. The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a research note 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 company from $220.00 to $180.00 in a research report on Tuesday. Finally, Barclays cut their price target on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a report on Monday, November 17th. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Philip Morris International has an average rating of “Moderate Buy” and a consensus price target of $184.56.

Philip Morris International Price Performance

Shares of PM stock opened at $173.06 on Friday. The company has a market capitalization of $269.39 billion, a PE ratio of 31.35, a price-to-earnings-growth ratio of 1.83 and a beta of 0.40. The firm’s 50-day moving average is $159.22 and its two-hundred day moving average is $161.60. Philip Morris International Inc. has a 12 month low of $125.53 and a 12 month high of $186.69.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Friday, October 24th. The company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.14. The business had revenue of $10.85 billion during the quarter, compared to the consensus estimate of $10.67 billion. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.91 EPS. Sell-side analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Friday, December 26th were given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.4%. The ex-dividend date was Friday, December 26th. Philip Morris International’s dividend payout ratio is presently 106.52%.

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.