RWC Asset Management LLP Trims Stake in Philip Morris International Inc. $PM

RWC Asset Management LLP decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 7.3% during the third quarter, Holdings Channel.com reports. The fund owned 116,687 shares of the company’s stock after selling 9,172 shares during the quarter. RWC Asset Management LLP’s holdings in Philip Morris International were worth $18,927,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of PM. PFS Partners LLC lifted its holdings in Philip Morris International by 24.8% during the 2nd quarter. PFS Partners LLC now owns 292 shares of the company’s stock valued at $53,000 after buying an additional 58 shares in the last quarter. Uncommon Cents Investing LLC boosted its position in Philip Morris International by 1.1% during the second quarter. Uncommon Cents Investing LLC now owns 5,666 shares of the company’s stock valued at $1,032,000 after purchasing an additional 61 shares in the last quarter. Second Line Capital LLC grew its stake in Philip Morris International by 4.8% in the second quarter. Second Line Capital LLC now owns 1,338 shares of the company’s stock valued at $245,000 after purchasing an additional 61 shares during the last quarter. Cranbrook Wealth Management LLC lifted its position in shares of Philip Morris International by 6.5% during the second quarter. Cranbrook Wealth Management LLC now owns 1,014 shares of the company’s stock valued at $185,000 after buying an additional 62 shares during the last quarter. Finally, 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 worth $375,000 after acquiring an additional 62 shares in the last quarter. 78.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PM has been the topic of a number of recent analyst reports. Wall Street Zen downgraded Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Barclays decreased their price target on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a report on Monday, November 17th. Stifel Nicolaus set a $180.00 target price on Philip Morris International in a research report on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Philip Morris International presently has a consensus rating of “Moderate Buy” and an average target price of $189.00.

Philip Morris International Stock Up 1.6%

Shares of NYSE PM opened at $165.22 on Tuesday. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69. The company’s 50-day simple moving average is $156.05 and its 200-day simple moving average is $161.90. The firm has a market cap of $257.19 billion, a price-to-earnings ratio of 29.93, a price-to-earnings-growth ratio of 1.75 and a beta of 0.40.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The firm had revenue of $8.12 billion during the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%. Equities research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Friday, December 26th will be given a $1.47 dividend. The ex-dividend date is Friday, December 26th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.6%. Philip Morris International’s dividend payout ratio is 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.