Philip Morris International Inc. (NYSE:PM) Position Cut by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. trimmed its stake in Philip Morris International Inc. (NYSE:PM) by 40.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 10,886 shares of the company’s stock after selling 7,250 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in Philip Morris International were worth $827,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of PM. Willingdon Wealth Management increased its holdings in shares of Philip Morris International by 0.9% during the second quarter. Willingdon Wealth Management now owns 13,656 shares of the company’s stock valued at $1,072,000 after purchasing an additional 119 shares during the period. Brand Asset Management Group Inc. grew its holdings in Philip Morris International by 34.9% during the second quarter. Brand Asset Management Group Inc. now owns 472 shares of the company’s stock worth $37,000 after acquiring an additional 122 shares during the period. Capital City Trust Co. FL grew its holdings in Philip Morris International by 1.1% during the second quarter. Capital City Trust Co. FL now owns 11,041 shares of the company’s stock worth $867,000 after acquiring an additional 125 shares during the period. First Command Financial Services Inc. grew its holdings in Philip Morris International by 5.0% during the third quarter. First Command Financial Services Inc. now owns 2,611 shares of the company’s stock worth $198,000 after acquiring an additional 125 shares during the period. Finally, MCF Advisors LLC grew its holdings in Philip Morris International by 26.7% during the second quarter. MCF Advisors LLC now owns 603 shares of the company’s stock worth $47,000 after acquiring an additional 127 shares during the period. Institutional investors own 74.16% of the company’s stock.

A number of research analysts recently issued reports on the company. Barclays raised Philip Morris International from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $82.00 to $100.00 in a report on Friday, July 19th. Morgan Stanley lowered their target price on Philip Morris International from $94.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Philip Morris International in a report on Tuesday, October 15th. Bank of America raised Philip Morris International from a “neutral” rating to a “buy” rating and set a $96.00 target price on the stock in a report on Tuesday, October 1st. Finally, Cowen reaffirmed a “hold” rating on shares of Philip Morris International in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. Philip Morris International currently has an average rating of “Buy” and an average price target of $92.27.

PM traded up $0.52 during trading on Wednesday, reaching $81.70. The company had a trading volume of 1,296,851 shares, compared to its average volume of 6,498,217. The firm’s 50-day simple moving average is $75.55 and its 200 day simple moving average is $80.60. The company has a market cap of $127.27 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 1.99 and a beta of 1.00. Philip Morris International Inc. has a 12-month low of $64.67 and a 12-month high of $92.74.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, October 17th. The company reported $1.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.08. The firm had revenue of $7.64 billion for the quarter, compared to analysts’ expectations of $7.65 billion. Philip Morris International had a negative return on equity of 82.33% and a net margin of 9.59%. Philip Morris International’s revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the business posted $1.44 EPS. Analysts anticipate that Philip Morris International Inc. will post 5.23 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Wednesday, September 25th were paid a $1.17 dividend. The ex-dividend date was Tuesday, September 24th. This represents a $4.68 dividend on an annualized basis and a yield of 5.73%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.14. Philip Morris International’s dividend payout ratio (DPR) is currently 91.76%.

Philip Morris International Company Profile

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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