Philip Morris International Inc. (PM) Holdings Cut by Rainier Group Investment Advisory LLC

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Rainier Group Investment Advisory LLC cut its position in Philip Morris International Inc. (NYSE:PM) by 42.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,920 shares of the company’s stock after selling 2,175 shares during the quarter. Rainier Group Investment Advisory LLC’s holdings in Philip Morris International were worth $236,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of PM. Shine Investment Advisory Services Inc. increased its holdings in Philip Morris International by 90.7% during the second quarter. Shine Investment Advisory Services Inc. now owns 1,245 shares of the company’s stock valued at $101,000 after buying an additional 592 shares during the last quarter. BKD Wealth Advisors LLC increased its holdings in Philip Morris International by 5.0% during the second quarter. BKD Wealth Advisors LLC now owns 13,174 shares of the company’s stock valued at $1,064,000 after buying an additional 625 shares during the last quarter. Pictet & Cie Europe SA increased its holdings in Philip Morris International by 7.3% during the second quarter. Pictet & Cie Europe SA now owns 9,173 shares of the company’s stock valued at $741,000 after buying an additional 627 shares during the last quarter. InterOcean Capital LLC increased its holdings in Philip Morris International by 11.3% during the second quarter. InterOcean Capital LLC now owns 6,274 shares of the company’s stock valued at $507,000 after buying an additional 636 shares during the last quarter. Finally, Strategic Financial Group LLC increased its holdings in Philip Morris International by 20.7% during the second quarter. Strategic Financial Group LLC now owns 3,732 shares of the company’s stock valued at $301,000 after buying an additional 639 shares during the last quarter. 72.88% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have commented on PM. Citigroup set a $90.00 target price on shares of Philip Morris International and gave the company a “buy” rating in a report on Friday, July 20th. Cowen cut shares of Philip Morris International from an “outperform” rating to a “market perform” rating and set a $97.00 target price for the company. in a report on Friday, July 20th. Stifel Nicolaus reduced their target price on shares of Philip Morris International from $100.00 to $93.00 and set a “buy” rating for the company in a report on Friday, July 20th. ValuEngine raised shares of Philip Morris International from a “strong sell” rating to a “sell” rating in a report on Monday, July 30th. Finally, JPMorgan Chase & Co. cut shares of Philip Morris International from an “overweight” rating to a “neutral” rating in a report on Friday, July 20th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $103.36.

PM opened at $79.33 on Friday. The company has a market capitalization of $124.44 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 1.76 and a beta of 0.82. Philip Morris International Inc. has a 1-year low of $76.21 and a 1-year high of $116.72. The company has a debt-to-equity ratio of -2.76, a current ratio of 1.15 and a quick ratio of 0.64.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, July 19th. The company reported $1.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.18. The business had revenue of $7.73 billion during the quarter, compared to analyst estimates of $7.53 billion. Philip Morris International had a net margin of 7.84% and a negative return on equity of 76.67%. The company’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.14 earnings per share. equities research analysts anticipate that Philip Morris International Inc. will post 5.04 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 12th. Shareholders of record on Wednesday, September 26th will be given a $1.14 dividend. The ex-dividend date of this dividend is Tuesday, September 25th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.75%. Philip Morris International’s payout ratio is currently 92.49%.

Philip Morris International Profile

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.

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

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