OVERSEA CHINESE BANKING Corp Ltd Invests $502,000 in Philip Morris International Inc. $PM

OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Philip Morris International Inc. (NYSE:PM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,097 shares of the company’s stock, valued at approximately $502,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PM. Brighton Jones LLC raised its stake in shares of Philip Morris International by 31.1% in the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock valued at $1,027,000 after acquiring an additional 2,023 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in Philip Morris International by 4.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock valued at $252,000 after purchasing an additional 91 shares in the last quarter. Fiduciary Alliance LLC raised its position in Philip Morris International by 125.8% in the 2nd quarter. Fiduciary Alliance LLC now owns 5,399 shares of the company’s stock valued at $983,000 after purchasing an additional 3,008 shares during the last quarter. Mirador Capital Partners LP grew its holdings in shares of Philip Morris International by 11.5% during the second quarter. Mirador Capital Partners LP now owns 1,562 shares of the company’s stock worth $284,000 after purchasing an additional 161 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC increased its stake in shares of Philip Morris International by 9.0% in the second quarter. Dynamic Advisor Solutions LLC now owns 23,124 shares of the company’s stock valued at $4,212,000 after buying an additional 1,900 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on PM. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. dropped their price target on shares of Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Morgan Stanley set a $175.00 target price on Philip Morris International and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Finally, Wall Street Zen lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $189.00.

Philip Morris International Stock Performance

PM opened at $172.69 on Friday. The business’s fifty day moving average is $157.31 and its 200-day moving average is $161.93. The firm has a market cap of $268.82 billion, a P/E ratio of 31.28, a price-to-earnings-growth ratio of 1.84 and a beta of 0.40. Philip Morris International Inc. has a 52-week low of $118.31 and a 52-week high of $186.69.

Philip Morris International (NYSE:PM) last issued its earnings results on Friday, October 24th. The company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.14. The business had revenue of $10.85 billion during the quarter, compared to analysts’ expectations of $10.67 billion. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.91 EPS. On average, research analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th were given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Friday, December 26th. Philip Morris International’s payout ratio is 106.52%.

Philip Morris International Company Profile

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.