Professional Advisory Services Inc. Sells 165 Shares of Philip Morris International Inc. (NYSE:PM)

Professional Advisory Services Inc. reduced its position in shares of Philip Morris International Inc. (NYSE:PM) by 6.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,585 shares of the company’s stock after selling 165 shares during the quarter. Professional Advisory Services Inc.’s holdings in Philip Morris International were worth $252,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC raised its holdings in Philip Morris International by 100,700.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,640,144 shares of the company’s stock worth $1,582,939,000 after purchasing an additional 15,624,628 shares in the last quarter. Federated Hermes Inc. raised its holdings in Philip Morris International by 31.7% in the 1st quarter. Federated Hermes Inc. now owns 9,036,858 shares of the company’s stock worth $878,834,000 after purchasing an additional 2,174,242 shares in the last quarter. Perpetual Ltd bought a new position in shares of Philip Morris International in the 1st quarter worth about $201,779,000. Canoe Financial LP bought a new position in shares of Philip Morris International in the 1st quarter worth about $150,424,000. Finally, Renaissance Technologies LLC increased its stake in shares of Philip Morris International by 122.0% in the 1st quarter. Renaissance Technologies LLC now owns 2,632,467 shares of the company’s stock worth $247,294,000 after acquiring an additional 1,446,567 shares in the last quarter. 79.70% of the stock is currently owned by institutional investors.

Philip Morris International Price Performance

Shares of PM traded down $0.52 on Friday, reaching $95.79. The company’s stock had a trading volume of 6,932,697 shares, compared to its average volume of 3,027,615. The stock has a market capitalization of $148.70 billion, a P/E ratio of 18.53, a PEG ratio of 2.02 and a beta of 0.71. The stock’s 50 day simple moving average is $96.52 and its two-hundred day simple moving average is $96.08. Philip Morris International Inc. has a 12-month low of $82.85 and a 12-month high of $105.62.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, July 20th. The company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.10. The company had revenue of $8.97 billion for the quarter, compared to the consensus estimate of $8.76 billion. Philip Morris International had a net margin of 11.63% and a negative return on equity of 127.84%. The firm’s revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.48 earnings per share. Analysts expect that Philip Morris International Inc. will post 6.19 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Wednesday, September 27th will be issued a $1.30 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.27. The ex-dividend date is Tuesday, September 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.43%. Philip Morris International’s dividend payout ratio (DPR) is presently 98.26%.

Analyst Ratings Changes

Several brokerages recently issued reports on PM. Jefferies Financial Group decreased their price target on shares of Philip Morris International from $113.00 to $111.00 and set a “buy” rating for the company in a research note on Tuesday, August 22nd. StockNews.com initiated coverage on shares of Philip Morris International in a research note on Thursday, August 17th. They set a “hold” rating for the company. 22nd Century Group restated a “reiterates” rating on shares of Philip Morris International in a research note on Tuesday, June 27th. Finally, Citigroup upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and raised their price objective for the company from $109.00 to $117.00 in a research note on Tuesday, June 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Philip Morris International has a consensus rating of “Moderate Buy” and a consensus target price of $110.70.

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.