Meeder Asset Management Inc. Sells 75,743 Shares of Philip Morris International Inc. $PM

by · The Cerbat Gem

Meeder Asset Management Inc. trimmed its position in Philip Morris International Inc. (NYSE:PM – Free Report) by 99.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 222 shares of the company’s stock after selling 75,743 shares during the period. Meeder Asset Management Inc.’s holdings in Philip Morris International were worth $36,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PM. Legacy Investment Solutions LLC purchased a new stake in shares of Philip Morris International in the 2nd quarter worth about $25,000. Traub Capital Management LLC bought a new stake in Philip Morris International during the second quarter worth about $25,000. Marquette Asset Management LLC boosted its stake in Philip Morris International by 1,677.8% during the third quarter. Marquette Asset Management LLC now owns 160 shares of the company’s stock worth $26,000 after acquiring an additional 151 shares in the last quarter. Abound Wealth Management grew its holdings in Philip Morris International by 566.7% in the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after purchasing an additional 136 shares during the period. Finally, Briaud Financial Planning Inc increased its stake in shares of Philip Morris International by 266.7% during the second quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock valued at $30,000 after purchasing an additional 120 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Trading Up 0.5%

Philip Morris International stock opened at $165.91 on Wednesday. Philip Morris International Inc. has a 12 month low of $117.18 and a 12 month high of $186.69. The stock has a fifty day simple moving average of $156.41 and a two-hundred day simple moving average of $161.79. The firm has a market cap of $258.26 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 1.78 and a beta of 0.40.

Philip Morris International (NYSE:PM – Get Free Report) last announced its quarterly earnings results on Friday, October 24th. The company reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.14. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The firm had revenue of $10.85 billion for the quarter, compared to the consensus estimate of $10.67 billion. During the same period in the prior year, the company posted $1.91 earnings per share. The company’s quarterly revenue was up 9.4% on a year-over-year basis. On average, equities research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Friday, December 26th will be paid a $1.47 dividend. The ex-dividend date is Friday, December 26th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.5%. Philip Morris International’s payout ratio is currently 106.52%.

Analysts Set New Price Targets

A number of brokerages have recently commented on PM. Barclays dropped their price target on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a research report on Monday, November 17th. Morgan Stanley set a $175.00 price objective on Philip Morris International and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Wall Street Zen cut Philip Morris International from a “buy” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. reduced their price target on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Finally, Stifel Nicolaus set a $180.00 price target on Philip Morris International in a research report on Tuesday, October 21st. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $189.00.

Read Our Latest Report on PM

About Philip Morris International

(Free Report)

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.

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