Lockheed Martin Investment Management Co. Sells 39,800 Shares of Philip Morris International Inc. $PM

Lockheed Martin Investment Management Co. trimmed its position in Philip Morris International Inc. (NYSE:PM) by 34.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 75,400 shares of the company’s stock after selling 39,800 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in Philip Morris International were worth $12,230,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PM. ERn Financial LLC lifted its position in shares of Philip Morris International by 10.9% during the third quarter. ERn Financial LLC now owns 1,992 shares of the company’s stock valued at $323,000 after buying an additional 196 shares during the last quarter. UNIVEST FINANCIAL Corp increased its holdings in shares of Philip Morris International by 5.7% in the third quarter. UNIVEST FINANCIAL Corp now owns 83,243 shares of the company’s stock valued at $13,502,000 after purchasing an additional 4,506 shares during the period. Coign Capital Advisors LLC purchased a new position in Philip Morris International during the 3rd quarter worth approximately $610,000. Flagship Wealth Advisors LLC raised its holdings in shares of Philip Morris International by 7.3% during the third quarter. Flagship Wealth Advisors LLC now owns 1,287 shares of the company’s stock worth $209,000 after purchasing an additional 87 shares during the last quarter. Finally, WFA Asset Management Corp lifted its position in Philip Morris International by 3.2% during the third quarter. WFA Asset Management Corp now owns 2,391 shares of the company’s stock valued at $388,000 after purchasing an additional 74 shares during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Stock Up 0.7%

PM opened at $170.00 on Friday. The firm’s fifty day simple moving average is $158.87 and its two-hundred day simple moving average is $161.65. Philip Morris International Inc. has a 52-week low of $122.76 and a 52-week high of $186.69. The company has a market cap of $264.63 billion, a price-to-earnings ratio of 30.80, a PEG ratio of 1.82 and a beta of 0.40.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Friday, October 24th. The company reported $2.24 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $10.85 billion during the quarter, compared to the consensus estimate of $10.67 billion. During the same quarter in the prior year, the firm earned $1.91 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Friday, December 26th were given a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Friday, December 26th. Philip Morris International’s dividend payout ratio (DPR) is 106.52%.

Wall Street Analyst Weigh In

PM has been the topic of several analyst reports. Wall Street Zen lowered Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. cut their target price on shares of Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Jefferies Financial Group cut shares of Philip Morris International from a “buy” rating to a “hold” rating and decreased their target price for the company from $220.00 to $180.00 in a research note on Tuesday. Finally, Stifel Nicolaus set a $180.00 price target on shares of Philip Morris International in a research report on Tuesday, October 21st. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $184.56.

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.