Balentine LLC Has $1.26 Million Position in Philip Morris International Inc. (NYSE:PM)

Balentine LLC cut its stake in shares of Philip Morris International Inc. (NYSE:PM) by 38.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,469 shares of the company’s stock after selling 6,549 shares during the period. Balentine LLC’s holdings in Philip Morris International were worth $1,260,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of PM. Annex Advisory Services LLC boosted its stake in shares of Philip Morris International by 1.6% during the 3rd quarter. Annex Advisory Services LLC now owns 13,380 shares of the company’s stock worth $1,624,000 after acquiring an additional 212 shares during the period. Koshinski Asset Management Inc. lifted its holdings in Philip Morris International by 3.9% during the 3rd quarter. Koshinski Asset Management Inc. now owns 12,348 shares of the company’s stock valued at $1,499,000 after purchasing an additional 462 shares during the last quarter. Sound Income Strategies LLC boosted its position in Philip Morris International by 84.8% during the third quarter. Sound Income Strategies LLC now owns 3,274 shares of the company’s stock worth $397,000 after purchasing an additional 1,502 shares during the period. Thomasville National Bank increased its holdings in shares of Philip Morris International by 1.6% in the third quarter. Thomasville National Bank now owns 42,466 shares of the company’s stock valued at $5,155,000 after purchasing an additional 679 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new position in shares of Philip Morris International in the third quarter valued at about $313,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Price Performance

NYSE PM opened at $146.58 on Tuesday. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $146.78. The business has a fifty day moving average price of $125.66 and a two-hundred day moving average price of $124.06. The stock has a market capitalization of $227.91 billion, a PE ratio of 32.50, a PEG ratio of 2.55 and a beta of 0.55.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.06. Philip Morris International had a net margin of 9.24% and a negative return on equity of 120.08%. As a group, sell-side analysts expect that Philip Morris International Inc. will post 7.11 earnings per share for the current year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, December 26th were given a $1.35 dividend. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $5.40 annualized dividend and a yield of 3.68%. Philip Morris International’s dividend payout ratio is presently 119.73%.

Analyst Upgrades and Downgrades

Several analysts recently commented on PM shares. UBS Group lifted their target price on shares of Philip Morris International from $105.00 to $120.00 and gave the stock a “sell” rating in a report on Friday. Barclays decreased their target price on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Morgan Stanley started coverage on Philip Morris International in a research report on Thursday, January 16th. They set an “overweight” rating and a $140.00 price objective on the stock. StockNews.com downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday. Finally, Stifel Nicolaus lifted their price target on shares of Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.35.

About Philip Morris International

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.