Trade Report: The Welch Group LLC decides to keep it stake in Philip Morris International Inc. (PM) to the level of $678,000

The Welch Group LLC decides to keep it stake in Philip Morris International Inc. (PM) to the level of $678,000

Welch Group LLC cut its stake in shares of Philip Morris International Inc. (NYSE:PM) by 65.5% during the second quarter, Holdings Channel reports. The fund owned 6,667 shares of the company’s stock after selling 12,636 shares during the period. Welch Group LLC’s holdings in Philip Morris International were worth $678,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PM. Acropolis Investment Management LLC raised its position in shares of Philip Morris International by 0.5% in the second quarter. Acropolis Investment Management LLC now owns 1,054 shares of the company’s stock valued at $107,000 after buying an additional 5 shares in the last quarter. FNY Managed Accounts LLC raised its position in shares of Philip Morris International by 257.1% in the second quarter. FNY Managed Accounts LLC now owns 1,250 shares of the company’s stock valued at $127,000 after buying an additional 900 shares in the last quarter. RKL Wealth Management LLC bought a new position in shares of Philip Morris International during the second quarter valued at approximately $179,000. CWM LLC raised its position in shares of Philip Morris International by 349.2% in the second quarter. CWM LLC now owns 1,770 shares of the company’s stock valued at $180,000 after buying an additional 1,376 shares in the last quarter. Finally, Palisade Asset Management LLC bought a new position in shares of Philip Morris International during the second quarter valued at approximately $203,000. Institutional investors own 71.15% of the company’s stock.

Shares of Philip Morris International Inc. (NYSE:PM) traded down 0.33% during mid-day trading on Monday, reaching $95.51. 4,097,941 shares of the company were exchanged. The company’s 50-day moving average is $98.68 and its 200 day moving average is $99.64. The firm has a market capitalization of $148.17 billion, a price-to-earnings ratio of 22.85 and a beta of 0.95. Philip Morris International Inc. has a 12 month low of $83.27 and a 12 month high of $104.20.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, July 19th. The company reported $1.15 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by $0.05. Philip Morris International had a negative return on equity of 57.28% and a net margin of 8.84%. The firm had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.77 billion. During the same period in the previous year, the firm posted $1.21 earnings per share. Analysts predict that Philip Morris International Inc. will post $4.51 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, October 13th. Stockholders of record on Wednesday, September 28th were given a dividend of $1.04 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.02. This represents a $4.16 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend was Monday, September 26th. Philip Morris International’s payout ratio is presently 99.52%.

PM has been the topic of several recent analyst reports. Goldman Sachs Group Inc. restated a “buy” rating and issued a $116.00 price objective (up from $114.00) on shares of Philip Morris International in a report on Monday, October 3rd. Zacks Investment Research upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a report on Wednesday, October 5th. Morgan Stanley reiterated an “overweight” rating and set a $110.00 target price on shares of Philip Morris International in a report on Tuesday, September 27th. Vetr upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $105.50 target price on the stock in a report on Monday, June 20th. Finally, Wells Fargo & Co. reiterated an “outperform” rating and set a $115.00 target price on shares of Philip Morris International in a report on Thursday, September 22nd. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Philip Morris International has an average rating of “Buy” and an average target price of $105.63.

Philip Morris International Company Profile

Philip Morris International Inc is a holding company engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. The Company’s products are sold in over 180 markets. Its segments include European Union; Eastern Europe, Middle East & Africa; Asia, and Latin America & Canada.

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