Bessemer Securities LLC Cuts Stock Position in Philip Morris International Inc. (NYSE:PM)

Bessemer Securities LLC lessened its holdings in Philip Morris International Inc. (NYSE:PM) by 9.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,475 shares of the company’s stock after selling 800 shares during the quarter. Bessemer Securities LLC’s holdings in Philip Morris International were worth $730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in PM. WFA of San Diego LLC purchased a new position in Philip Morris International in the second quarter valued at approximately $56,000. GeoWealth Management LLC lifted its position in shares of Philip Morris International by 584.6% during the 2nd quarter. GeoWealth Management LLC now owns 6,613 shares of the company’s stock valued at $646,000 after buying an additional 5,647 shares during the last quarter. Davis R M Inc. grew its stake in shares of Philip Morris International by 15.8% during the 2nd quarter. Davis R M Inc. now owns 8,092 shares of the company’s stock worth $790,000 after acquiring an additional 1,102 shares during the period. ProShare Advisors LLC increased its holdings in Philip Morris International by 2.9% in the 2nd quarter. ProShare Advisors LLC now owns 238,402 shares of the company’s stock worth $23,273,000 after acquiring an additional 6,810 shares during the last quarter. Finally, Profund Advisors LLC raised its stake in Philip Morris International by 6.1% in the 2nd quarter. Profund Advisors LLC now owns 16,868 shares of the company’s stock valued at $1,647,000 after acquiring an additional 964 shares during the period. 79.70% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Trading Down 0.2 %

Shares of NYSE PM traded down $0.14 during midday trading on Monday, hitting $91.81. 354,114 shares of the company’s stock were exchanged, compared to its average volume of 4,261,180. The business’s fifty day moving average price is $92.20 and its two-hundred day moving average price is $94.26. The company has a market cap of $142.53 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 2.16 and a beta of 0.77. Philip Morris International Inc. has a 12-month low of $87.23 and a 12-month high of $105.62.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, October 19th. The company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.05. Philip Morris International had a net margin of 9.62% and a negative return on equity of 129.48%. The firm had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.21 billion. During the same quarter in the prior year, the firm earned $1.53 EPS. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. Equities analysts expect that Philip Morris International Inc. will post 6.16 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Wednesday, September 27th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, September 26th. This represents a $5.20 annualized dividend and a yield of 5.66%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.27. Philip Morris International’s payout ratio is 100.97%.

Wall Street Analyst Weigh In

PM has been the topic of several research reports. UBS Group lowered their price target on shares of Philip Morris International from $116.00 to $112.00 and set a “buy” rating on the stock in a research report on Thursday, October 5th. Barclays lowered their target price on shares of Philip Morris International from $115.00 to $110.00 and set an “overweight” rating on the stock in a report on Thursday, September 21st. Bank of America cut their price target on Philip Morris International from $118.00 to $111.00 in a report on Friday, September 29th. Redburn Atlantic started coverage on Philip Morris International in a research note on Thursday. They set a “neutral” rating and a $95.00 price objective on the stock. Finally, Morgan Stanley cut their target price on Philip Morris International from $118.00 to $113.00 and set an “overweight” rating for the company in a research note on Monday, October 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.36.

Philip Morris International Company Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.