Montecito Bank & Trust Purchases Shares of 6,885 Philip Morris International Inc. $PM

Montecito Bank & Trust purchased a new stake in shares of Philip Morris International Inc. (NYSE:PM) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,885 shares of the company’s stock, valued at approximately $1,117,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. WCM Investment Management LLC increased its holdings in Philip Morris International by 24,968.0% during the second quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock valued at $2,041,223,000 after buying an additional 11,230,626 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Philip Morris International by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 142,857,055 shares of the company’s stock valued at $26,018,555,000 after acquiring an additional 2,235,380 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Philip Morris International by 69.0% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,512,311 shares of the company’s stock worth $821,826,000 after purchasing an additional 1,842,754 shares in the last quarter. AQR Capital Management LLC raised its holdings in Philip Morris International by 111.1% in the 1st quarter. AQR Capital Management LLC now owns 3,002,216 shares of the company’s stock worth $473,660,000 after purchasing an additional 1,580,368 shares during the period. Finally, 1832 Asset Management L.P. lifted its position in Philip Morris International by 475.5% during the first quarter. 1832 Asset Management L.P. now owns 1,325,951 shares of the company’s stock valued at $210,468,000 after purchasing an additional 1,095,557 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

PM has been the subject of a number of analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. UBS Group reduced their target price on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a report on Friday, September 5th. Morgan Stanley set a $175.00 target price on shares of Philip Morris International and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. The Goldman Sachs Group reiterated a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Finally, Wall Street Zen upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, November 17th. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $189.00.

Philip Morris International Trading Down 0.8%

Shares of PM stock opened at $157.27 on Friday. Philip Morris International Inc. has a 12-month low of $116.12 and a 12-month high of $186.69. The stock’s 50-day moving average price is $153.86 and its 200-day moving average price is $164.77. The stock has a market capitalization of $244.81 billion, a price-to-earnings ratio of 28.49, a price-to-earnings-growth ratio of 1.89 and a beta of 0.42.

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

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th will be given a dividend of $1.47 per share. The ex-dividend date is Friday, December 26th. This represents a $5.88 dividend on an annualized basis and a yield of 3.7%. Philip Morris International’s dividend payout ratio is 106.52%.

Philip Morris International Company Profile

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.