ABN AMRO Bank N.V. Makes New Investment in Philip Morris International Inc. $PM

ABN AMRO Bank N.V. bought a new stake in Philip Morris International Inc. (NYSE:PM) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,600 shares of the company’s stock, valued at approximately $1,069,000.

Several other hedge funds have also modified their holdings of the stock. Legacy Investment Solutions LLC purchased a new stake in shares of Philip Morris International during the second quarter valued at approximately $25,000. Traub Capital Management LLC purchased a new position in shares of Philip Morris International in the second quarter valued at $25,000. Marquette Asset Management LLC grew its holdings in Philip Morris International by 1,677.8% during the 3rd quarter. Marquette Asset Management LLC now owns 160 shares of the company’s stock valued at $26,000 after purchasing an additional 151 shares in the last quarter. Briaud Financial Planning Inc increased its stake in Philip Morris International by 266.7% during the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after buying an additional 120 shares during the period. Finally, Estabrook Capital Management purchased a new stake in Philip Morris International during the 2nd quarter worth $30,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Stock Performance

Shares of PM stock opened at $181.63 on Friday. The stock has a market capitalization of $282.73 billion, a price-to-earnings ratio of 32.90, a PEG ratio of 1.94 and a beta of 0.39. Philip Morris International Inc. has a one year low of $140.02 and a one year high of $186.69. The company’s 50-day simple moving average is $163.48 and its 200-day simple moving average is $161.53.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Friday, December 26th were given a $1.47 dividend. The ex-dividend date was Friday, December 26th. This represents a $5.88 annualized dividend and a dividend yield of 3.2%. Philip Morris International’s dividend payout ratio (DPR) is presently 106.52%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wall Street Zen cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Barclays cut their price target on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a research note on Monday, November 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a report on Thursday, January 22nd. The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Finally, Morgan Stanley set a $175.00 target price on Philip Morris International and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $184.56.

Philip Morris International 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.