Philip Morris International Inc. $PM Stock Bought by International Assets Investment Management LLC

International Assets Investment Management LLC increased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 755.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,000 shares of the company’s stock after acquiring an additional 88,316 shares during the period. International Assets Investment Management LLC’s holdings in Philip Morris International were worth $19,082,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GQG Partners LLC bought a new position in shares of Philip Morris International during the second quarter valued at approximately $8,220,008,000. Bank of America Corp DE bought a new stake in shares of Philip Morris International in the 2nd quarter worth approximately $3,075,267,000. Legal & General Group Plc bought a new stake in shares of Philip Morris International in the 2nd quarter worth approximately $1,316,151,000. Jupiter Topco LLC bought a new stake in shares of Philip Morris International in the 2nd quarter worth approximately $726,464,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Philip Morris International by 30.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 11,669,878 shares of the company’s stock worth $2,111,198,000 after buying an additional 2,755,662 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Morgan Stanley raised their price objective on Philip Morris International from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Argus lifted their price objective on Philip Morris International from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, October 26th. BTIG Research set a $221.00 target price on Philip Morris International and gave the stock a “buy” rating in a report on Friday, July 24th. Weiss Ratings raised Philip Morris International from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Finally, Needham & Company LLC increased their target price on Philip Morris International from $215.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, October 22nd. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $209.70.

Philip Morris International Stock Performance

NYSE:PM opened at $208.72 on Friday. The firm has a market cap of $325.32 billion, a P/E ratio of 30.47, a P/E/G ratio of 2.80 and a beta of 0.34. Philip Morris International Inc. has a fifty-two week low of $142.11 and a fifty-two week high of $214.35. The firm has a 50-day simple moving average of $194.20 and a two-hundred day simple moving average of $181.93.

Philip Morris International (NYSE:PM) last issued its earnings results on Wednesday, October 21st. The company reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.06. The business had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $11.32 billion. Philip Morris International had a net margin of 10.73% and a negative return on equity of 183.96%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.24 earnings per share. On average, equities research analysts predict that Philip Morris International Inc. will post 8.32 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 26th. Investors of record on Friday, October 2nd were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.1%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend was Friday, October 2nd. Philip Morris International’s payout ratio is 93.43%.

Philip Morris International Company Profile

Philip Morris International Inc (NYSE:PM) is a global tobacco and nicotine company headquartered in Stamford, Connecticut. It was established as an independent company in 2008 following the separation of Philip Morris International from Altria Group. The company develops, manufactures and markets tobacco, nicotine and other related consumer products primarily outside the United States.

Its portfolio includes internationally recognized cigarette brands such as Marlboro, Parliament, L&M, Chesterfield and Bond Street.