Xcel Wealth Management LLC Trims Holdings in Philip Morris International Inc. (NYSE:PM)

Xcel Wealth Management LLC decreased its holdings in Philip Morris International Inc. (NYSE:PM) by 32.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,000 shares of the company’s stock after selling 1,438 shares during the quarter. Xcel Wealth Management LLC’s holdings in Philip Morris International were worth $224,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Blue Chip Wealth Management Inc. raised its position in Philip Morris International by 4.1% during the 2nd quarter. Blue Chip Wealth Management Inc. now owns 3,451 shares of the company’s stock worth $242,000 after buying an additional 135 shares during the last quarter. Pure Financial Advisors Inc. raised its position in Philip Morris International by 3.8% during the 3rd quarter. Pure Financial Advisors Inc. now owns 3,672 shares of the company’s stock worth $275,000 after buying an additional 135 shares during the last quarter. Stock Yards Bank & Trust Co. raised its position in Philip Morris International by 0.5% during the 3rd quarter. Stock Yards Bank & Trust Co. now owns 29,221 shares of the company’s stock worth $2,191,000 after buying an additional 141 shares during the last quarter. Ropes Wealth Advisors LLC raised its position in Philip Morris International by 3.3% during the 3rd quarter. Ropes Wealth Advisors LLC now owns 4,511 shares of the company’s stock worth $338,000 after buying an additional 142 shares during the last quarter. Finally, Dowling & Yahnke LLC raised its position in Philip Morris International by 2.2% during the 3rd quarter. Dowling & Yahnke LLC now owns 6,676 shares of the company’s stock worth $501,000 after buying an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 73.98% of the company’s stock.

In related news, Director Louis C. Camilleri sold 75,000 shares of the 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 corporate insiders.

A number of equities analysts have commented on PM shares. The Goldman Sachs Group upped their price objective on shares of Philip Morris International from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, September 23rd. Citigroup upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and increased their price target for the company from $82.00 to $100.00 in a report on Wednesday, October 7th. Piper Sandler reiterated a “buy” rating and issued a $98.00 price target on shares of Philip Morris International in a report on Tuesday, August 4th. Stifel Nicolaus increased their price target on shares of Philip Morris International from $85.00 to $90.00 in a report on Wednesday, July 22nd. Finally, Bank of America increased their price target on shares of Philip Morris International from $90.00 to $92.00 and gave the company a “buy” rating in a report on Friday, September 11th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $92.91.

NYSE PM traded down $0.03 during trading hours on Friday, reaching $70.61. The company’s stock had a trading volume of 148,413 shares, compared to its average volume of 5,395,787. The stock has a market cap of $110.01 billion, a PE ratio of 14.30, a PEG ratio of 2.15 and a beta of 0.78. Philip Morris International Inc. has a fifty-two week low of $56.01 and a fifty-two week high of $90.17. The company’s 50-day moving average is $77.13 and its two-hundred day moving average is $75.19.

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

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 13th. Investors of record on Thursday, September 24th were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 6.80%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.17. The ex-dividend date was Wednesday, September 23rd. Philip Morris International’s dividend payout ratio is presently 92.49%.

Philip Morris International Company Profile

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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