Philip Morris International Inc. $PM Shares Sold by Gibbs Wealth Management

Gibbs Wealth Management cut its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 28.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,844 shares of the company’s stock after selling 3,575 shares during the quarter. Gibbs Wealth Management’s holdings in Philip Morris International were worth $1,435,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. PFS Partners LLC boosted its holdings in Philip Morris International by 24.8% in the second quarter. PFS Partners LLC now owns 292 shares of the company’s stock valued at $53,000 after purchasing an additional 58 shares during the period. Uncommon Cents Investing LLC boosted its stake in shares of Philip Morris International by 1.1% in the 2nd quarter. Uncommon Cents Investing LLC now owns 5,666 shares of the company’s stock valued at $1,032,000 after buying an additional 61 shares during the period. Second Line Capital LLC increased its stake in shares of Philip Morris International by 4.8% during the second quarter. Second Line Capital LLC now owns 1,338 shares of the company’s stock worth $245,000 after buying an additional 61 shares during the period. Meridian Wealth Partners LLC raised its holdings in Philip Morris International by 3.1% in the second quarter. Meridian Wealth Partners LLC now owns 2,060 shares of the company’s stock valued at $375,000 after acquiring an additional 62 shares in the last quarter. Finally, Bernardo Wealth Planning LLC lifted its stake in Philip Morris International by 1.8% in the second quarter. Bernardo Wealth Planning LLC now owns 3,584 shares of the company’s stock worth $653,000 after acquiring an additional 62 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Trading Up 1.8%

PM stock opened at $173.06 on Friday. The business has a 50 day simple moving average of $159.22 and a 200-day simple moving average of $161.60. The company has a market capitalization of $269.39 billion, a P/E ratio of 31.35, a PEG ratio of 1.83 and a beta of 0.40. Philip Morris International Inc. has a twelve month low of $125.53 and a twelve month high of $186.69.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Friday, October 24th. The company reported $2.24 EPS 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 for the quarter, compared to analyst estimates of $10.67 billion. During the same period in the previous year, the business posted $1.91 earnings per share. Philip Morris International’s quarterly revenue was up 9.4% on a year-over-year basis. Research analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research report on Thursday. The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Jefferies Financial Group downgraded Philip Morris International from a “buy” rating to a “hold” rating and decreased their price target for the stock from $220.00 to $180.00 in a report on Tuesday. JPMorgan Chase & Co. lowered their price objective on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. Finally, Morgan Stanley set a $175.00 target price on Philip Morris International and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $184.56.

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.