Royal Fund Management LLC Trims Stock Position in Philip Morris International Inc. (NYSE:PM)

Royal Fund Management LLC lessened its holdings in Philip Morris International Inc. (NYSE:PM) by 7.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,136 shares of the company’s stock after selling 773 shares during the period. Royal Fund Management LLC’s holdings in Philip Morris International were worth $892,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Optiver Holding B.V. purchased a new position in shares of Philip Morris International during the fourth quarter valued at approximately $29,000. Stone House Investment Management LLC purchased a new position in shares of Philip Morris International during the first quarter valued at approximately $29,000. BOK Financial Private Wealth Inc. purchased a new position in shares of Philip Morris International during the first quarter valued at approximately $32,000. Barrett & Company Inc. purchased a new position in shares of Philip Morris International during the first quarter valued at approximately $32,000. Finally, FSC Wealth Advisors LLC increased its position in Philip Morris International by 75.0% during the first quarter. FSC Wealth Advisors LLC now owns 350 shares of the company’s stock worth $34,000 after purchasing an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 79.70% of the company’s stock.

Philip Morris International Trading Up 1.2 %

Shares of PM stock opened at $96.96 on Tuesday. The company has a market capitalization of $150.51 billion, a PE ratio of 18.75, a price-to-earnings-growth ratio of 2.01 and a beta of 0.71. The firm has a fifty day simple moving average of $96.49 and a 200-day simple moving average of $96.05. Philip Morris International Inc. has a twelve month low of $82.85 and a twelve 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 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.10. Philip Morris International had a net margin of 11.63% and a negative return on equity of 127.84%. The firm had revenue of $8.97 billion for the quarter, compared to the consensus estimate of $8.76 billion. During the same period in the prior year, the firm posted $1.48 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. Equities research analysts predict that Philip Morris International Inc. will post 6.19 EPS for the current year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Wednesday, September 27th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.36%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.27. The ex-dividend date is Tuesday, September 26th. Philip Morris International’s dividend payout ratio is 98.26%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PM shares. StockNews.com started coverage on shares of Philip Morris International in a research report on Thursday, August 17th. They set a “hold” rating for the company. Citigroup raised shares of Philip Morris International from a “neutral” rating to a “buy” rating and upped their price target for the stock from $109.00 to $117.00 in a research report on Tuesday, June 20th. 22nd Century Group reaffirmed a “reiterates” rating on shares of Philip Morris International in a research report on Tuesday, June 27th. Finally, Jefferies Financial Group dropped their price objective on shares of Philip Morris International from $113.00 to $111.00 and set a “buy” rating for the company in a research report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $110.70.

Philip Morris International 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.