Bryn Mawr Trust Advisors LLC Cuts Stake in Philip Morris International Inc. $PM

by · The Markets Daily

Bryn Mawr Trust Advisors LLC lessened its stake in Philip Morris International Inc. (NYSE:PM – Free Report) by 1.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 29,634 shares of the company’s stock after selling 452 shares during the quarter. Bryn Mawr Trust Advisors LLC’s holdings in Philip Morris International were worth $5,397,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. WCM Investment Management LLC lifted its stake in Philip Morris International by 24,968.0% in the 2nd quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock worth $2,041,223,000 after purchasing an additional 11,230,626 shares in the last quarter. Nuveen LLC bought a new stake in shares of Philip Morris International in the first quarter worth about $1,712,994,000. Wellington Management Group LLP lifted its position in shares of Philip Morris International by 26.4% in the first quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock worth $3,466,730,000 after buying an additional 4,563,632 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Philip Morris International by 57.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company’s stock worth $1,554,686,000 after buying an additional 3,575,158 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Philip Morris International by 22.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 9,018,628 shares of the company’s stock valued at $1,431,527,000 after buying an additional 1,635,636 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on PM shares. UBS Group reduced their price objective on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a research note on Friday, September 5th. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 price target on shares of Philip Morris International in a research note on Wednesday, July 23rd. Wall Street Zen raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $194.00.

View Our Latest Report on PM

Philip Morris International Stock Performance

Shares of PM stock opened at $149.93 on Friday. The stock has a 50 day moving average price of $158.58 and a 200 day moving average price of $168.41. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69. The firm has a market capitalization of $233.39 billion, a P/E ratio of 27.16, a P/E/G ratio of 2.15 and a beta of 0.43.

Philip Morris International (NYSE:PM – Get Free Report) last posted its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. The company had revenue of $8.12 billion for the quarter. As a group, sell-side analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Friday, October 3rd were issued a $1.47 dividend. The ex-dividend date was Friday, October 3rd. This represents a $5.88 annualized dividend and a dividend yield of 3.9%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio (DPR) is currently 106.52%.

Philip Morris International Company Profile

(Free Report)

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.

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