QRG Capital Management Inc. Lowers Holdings in Philip Morris International Inc. $PM

QRG Capital Management Inc. trimmed its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 24.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 185,038 shares of the company’s stock after selling 60,558 shares during the period. QRG Capital Management Inc.’s holdings in Philip Morris International were worth $30,013,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in Philip Morris International during the second quarter worth $25,000. Traub Capital Management LLC acquired a new stake in shares of Philip Morris International in the second quarter valued at approximately $25,000. Marquette Asset Management LLC increased its stake in shares of Philip Morris International by 1,677.8% during the 3rd quarter. Marquette Asset Management LLC now owns 160 shares of the company’s stock worth $26,000 after purchasing an additional 151 shares in the last quarter. Abound Wealth Management raised its position in shares of Philip Morris International by 566.7% during the 2nd quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after purchasing an additional 136 shares during the last quarter. Finally, Briaud Financial Planning Inc grew its holdings in Philip Morris International by 266.7% during the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock valued at $30,000 after buying an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

PM opened at $173.66 on Friday. The business has a 50 day moving average price of $157.72 and a two-hundred day moving average price of $161.87. The company has a market capitalization of $270.33 billion, a price-to-earnings ratio of 31.46, a price-to-earnings-growth ratio of 1.86 and a beta of 0.40. Philip Morris International Inc. has a 1-year low of $119.30 and a 1-year high of $186.69.

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

Philip Morris International Dividend Announcement

The business also recently announced 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. 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 (DPR) is 106.52%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PM. Morgan Stanley set a $175.00 price target on shares of Philip Morris International and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Stifel Nicolaus set a $180.00 target price on Philip Morris International in a research report on Tuesday, October 21st. Barclays lowered their target price on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a research note 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. dropped 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. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $189.00.

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.