Arbor Wealth Management LLC Reduces Stake in Philip Morris International Inc. (PM)

Arbor Wealth Management LLC lessened its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 3.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 50,105 shares of the company’s stock after selling 1,764 shares during the period. Philip Morris International makes up 3.2% of Arbor Wealth Management LLC’s investment portfolio, making the stock its 12th largest position. Arbor Wealth Management LLC’s holdings in Philip Morris International were worth $4,101,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its stake in Philip Morris International by 4.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 34,065,506 shares of the company’s stock worth $2,750,449,000 after purchasing an additional 1,421,021 shares in the last quarter. Morgan Stanley boosted its stake in Philip Morris International by 23.9% in the 2nd quarter. Morgan Stanley now owns 22,738,044 shares of the company’s stock worth $1,835,871,000 after purchasing an additional 4,386,487 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Philip Morris International by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 17,570,730 shares of the company’s stock worth $1,418,660,000 after purchasing an additional 258,809 shares in the last quarter. Flossbach Von Storch AG boosted its stake in Philip Morris International by 48.1% in the 2nd quarter. Flossbach Von Storch AG now owns 14,212,696 shares of the company’s stock worth $1,147,533,000 after purchasing an additional 4,618,289 shares in the last quarter. Finally, Gardner Russo & Gardner LLC boosted its stake in Philip Morris International by 2.3% in the 1st quarter. Gardner Russo & Gardner LLC now owns 10,380,319 shares of the company’s stock worth $1,031,804,000 after purchasing an additional 237,310 shares in the last quarter. Hedge funds and other institutional investors own 72.88% of the company’s stock.

Shares of NYSE:PM opened at $79.33 on Monday. Philip Morris International Inc. has a fifty-two week low of $76.21 and a fifty-two week high of $116.72. The company has a quick ratio of 0.64, a current ratio of 1.15 and a debt-to-equity ratio of -2.76. The stock has a market capitalization of $124.44 billion, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 1.76 and a beta of 0.82.

Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, July 19th. The company reported $1.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.18. Philip Morris International had a negative return on equity of 76.67% and a net margin of 7.84%. The business had revenue of $7.73 billion during the quarter, compared to analyst estimates of $7.53 billion. During the same quarter in the previous year, the firm earned $1.14 EPS. Philip Morris International’s revenue was up 11.7% on a year-over-year basis. sell-side analysts forecast that Philip Morris International Inc. will post 5.04 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 12th. Shareholders of record on Wednesday, September 26th will be given a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a yield of 5.75%. The ex-dividend date of this dividend is Tuesday, September 25th. Philip Morris International’s dividend payout ratio (DPR) is 92.49%.

A number of brokerages recently issued reports on PM. Jefferies Financial Group cut shares of Philip Morris International from a “buy” rating to a “hold” rating and set a $80.00 price target on the stock. in a research note on Friday, August 24th. ValuEngine cut shares of Philip Morris International from a “sell” rating to a “strong sell” rating in a research note on Tuesday, May 22nd. Stifel Nicolaus dropped their price target on shares of Philip Morris International from $100.00 to $93.00 and set a “buy” rating on the stock in a research note on Friday, July 20th. Morgan Stanley dropped their price target on shares of Philip Morris International from $111.00 to $102.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 17th. Finally, Cowen cut shares of Philip Morris International from an “outperform” rating to a “market perform” rating and set a $97.00 price target on the stock. in a research note on Friday, July 20th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $103.36.

Philip Morris International Company Profile

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.

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

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