Harbour Investments Inc. Buys 218 Shares of Philip Morris International Inc. (NYSE:PM)

Harbour Investments Inc. grew its position in Philip Morris International Inc. (NYSE:PM) by 1.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,628 shares of the company’s stock after purchasing an additional 218 shares during the period. Harbour Investments Inc.’s holdings in Philip Morris International were worth $2,004,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Capital World Investors raised its stake in shares of Philip Morris International by 3.6% in the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company’s stock worth $14,752,926,000 after acquiring an additional 4,216,586 shares during the last quarter. Northern Trust Corp raised its holdings in Philip Morris International by 11.0% during the 4th quarter. Northern Trust Corp now owns 13,630,177 shares of the company’s stock worth $1,640,392,000 after purchasing an additional 1,347,503 shares during the last quarter. Fayez Sarofim & Co lifted its position in Philip Morris International by 7.1% during the 4th quarter. Fayez Sarofim & Co now owns 10,313,383 shares of the company’s stock valued at $1,241,216,000 after purchasing an additional 685,431 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Philip Morris International by 22.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,018,628 shares of the company’s stock valued at $1,431,527,000 after buying an additional 1,635,636 shares during the period. Finally, Independent Franchise Partners LLP boosted its stake in Philip Morris International by 8.9% in the fourth quarter. Independent Franchise Partners LLP now owns 6,643,831 shares of the company’s stock valued at $799,585,000 after acquiring an additional 540,434 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on PM shares. JPMorgan Chase & Co. raised their price target on Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Bank of America increased their price target on shares of Philip Morris International from $182.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. Wall Street Zen upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Sunday, July 20th. Morgan Stanley reiterated an “overweight” rating and issued a $182.00 target price (up from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Finally, Stifel Nicolaus boosted their price target on shares of Philip Morris International from $168.00 to $186.00 and gave the company a “buy” rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $186.27.

Philip Morris International Price Performance

Shares of NYSE PM opened at $162.96 on Friday. The stock has a market capitalization of $253.66 billion, a PE ratio of 30.98, a P/E/G ratio of 2.39 and a beta of 0.49. Philip Morris International Inc. has a fifty-two week low of $113.15 and a fifty-two week high of $186.69. The business has a fifty day moving average price of $177.55 and a two-hundred day moving average price of $161.60.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.05. The company had revenue of $10.14 billion during the quarter, compared to analysts’ expectations of $10.33 billion. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. Philip Morris International’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.59 EPS. On average, equities analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Friday, June 27th. Philip Morris International’s dividend payout ratio is currently 102.66%.

Philip Morris International 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.