Bank of Montreal Can Decreases Stock Position in Philip Morris International Inc. $PM

Bank of Montreal Can lessened its holdings in Philip Morris International Inc. (NYSE:PM) by 11.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,892,069 shares of the company’s stock after selling 243,223 shares during the quarter. Bank of Montreal Can owned 0.12% of Philip Morris International worth $344,603,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Telos Capital Management Inc. boosted its stake in Philip Morris International by 4.4% in the 2nd quarter. Telos Capital Management Inc. now owns 3,224 shares of the company’s stock worth $587,000 after purchasing an additional 136 shares in the last quarter. State of Michigan Retirement System raised its holdings in shares of Philip Morris International by 0.4% in the second quarter. State of Michigan Retirement System now owns 423,258 shares of the company’s stock worth $77,088,000 after buying an additional 1,500 shares during the last quarter. Wakefield Asset Management LLLP acquired a new stake in shares of Philip Morris International during the second quarter worth $349,000. Mission Wealth Management LP grew its holdings in shares of Philip Morris International by 1.3% during the second quarter. Mission Wealth Management LP now owns 10,376 shares of the company’s stock valued at $1,890,000 after buying an additional 129 shares during the last quarter. Finally, Gilbert & Cook Inc. increased its position in shares of Philip Morris International by 8.0% in the 2nd quarter. Gilbert & Cook Inc. now owns 9,998 shares of the company’s stock valued at $1,821,000 after acquiring an additional 739 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PM. Morgan Stanley set a $175.00 price target on Philip Morris International and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Barclays dropped their target price on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. Needham & Company LLC reissued a “buy” rating and set a $195.00 price target on shares of Philip Morris International in a research report on Wednesday, July 23rd. UBS Group decreased their price objective on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research note on Friday, September 5th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.00.

Philip Morris International Trading Down 1.0%

Shares of NYSE:PM opened at $144.33 on Monday. Philip Morris International Inc. has a 12-month low of $116.12 and a 12-month high of $186.69. The company has a market capitalization of $224.67 billion, a PE ratio of 26.15, a PEG ratio of 2.09 and a beta of 0.43. The business has a 50 day moving average of $160.05 and a two-hundred day moving average of $168.92.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The business had revenue of $8.12 billion for the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. Equities research analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Friday, October 3rd were issued a $1.47 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 dividend on an annualized basis and a yield of 4.1%. Philip Morris International’s dividend payout ratio is presently 106.52%.

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.