Blue Chip Partners Inc. Decreases Holdings in Philip Morris International Inc. (NYSE:PM)

Blue Chip Partners Inc. lowered its stake in Philip Morris International Inc. (NYSE:PM) by 27.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,219 shares of the company’s stock after selling 839 shares during the period. Blue Chip Partners Inc.’s holdings in Philip Morris International were worth $166,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. State Street Corp boosted its holdings in Philip Morris International by 1.1% during the 1st quarter. State Street Corp now owns 61,136,786 shares of the company’s stock valued at $4,531,459,000 after acquiring an additional 661,043 shares during the period. Morgan Stanley grew its holdings in shares of Philip Morris International by 8.4% in the first quarter. Morgan Stanley now owns 42,365,463 shares of the company’s stock worth $3,090,983,000 after purchasing an additional 3,285,330 shares during the last quarter. First Eagle Investment Management LLC increased its stake in Philip Morris International by 2.7% in the 2nd quarter. First Eagle Investment Management LLC now owns 12,898,497 shares of the company’s stock worth $903,669,000 after buying an additional 341,773 shares during the period. Federated Hermes Inc. boosted its position in Philip Morris International by 1.1% in the 2nd quarter. Federated Hermes Inc. now owns 7,894,568 shares of the company’s stock valued at $553,094,000 after buying an additional 83,026 shares during the period. Finally, Independent Franchise Partners LLP boosted its holdings in shares of Philip Morris International by 47.4% in the second quarter. Independent Franchise Partners LLP now owns 7,135,405 shares of the company’s stock valued at $499,906,000 after purchasing an additional 2,294,843 shares during the period. 73.98% of the stock is currently owned by institutional investors.

In other Philip Morris International news, Director Louis C. Camilleri sold 75,000 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $77.73, for a total value of $5,829,750.00. 0.22% of the stock is currently owned by company insiders.

A number of research firms have weighed in on PM. Piper Sandler restated a “buy” rating and set a $98.00 target price on shares of Philip Morris International in a report on Tuesday, August 4th. Citigroup raised shares of Philip Morris International from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $82.00 to $100.00 in a report on Wednesday, October 7th. The Goldman Sachs Group boosted their price target on Philip Morris International from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, September 23rd. Argus lowered Philip Morris International from a “buy” rating to a “hold” rating in a report on Friday, October 23rd. Finally, Bank of America lifted their target price on Philip Morris International from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, September 11th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company. Philip Morris International currently has an average rating of “Buy” and a consensus target price of $92.91.

Shares of Philip Morris International stock opened at $70.44 on Friday. The stock’s 50 day simple moving average is $77.13 and its 200-day simple moving average is $75.19. The stock has a market cap of $110.01 billion, a P/E ratio of 14.30, a P/E/G ratio of 2.15 and a beta of 0.78. Philip Morris International Inc. has a 1-year low of $56.01 and a 1-year high of $90.17.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $1.42 EPS for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.06. The firm had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.27 billion. Philip Morris International had a negative return on equity of 80.24% and a net margin of 9.54%. The firm’s revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 earnings per share. As a group, research analysts forecast that Philip Morris International Inc. will post 5.08 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 13th. Investors of record on Thursday, September 24th were given a dividend of $1.20 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.17. This represents a $4.80 annualized dividend and a yield of 6.81%. The ex-dividend date was Wednesday, September 23rd. Philip Morris International’s dividend payout ratio (DPR) is presently 92.49%.

About Philip Morris International

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, smoke-free products, and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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