First Nebraska Trust Co Acquires 17,620 Shares of Philip Morris International Inc. $PM

First Nebraska Trust Co acquired a new position in shares of Philip Morris International Inc. (NYSE:PM) during the third quarter, HoldingsChannel reports. The firm acquired 17,620 shares of the company’s stock, valued at approximately $3,362,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Factory Mutual Insurance Co. acquired a new position in Philip Morris International in the 3rd quarter worth $64,575,000. Garde Capital Inc. increased its holdings in Philip Morris International by 4.5% during the 3rd quarter. Garde Capital Inc. now owns 3,577 shares of the company’s stock worth $683,000 after purchasing an additional 153 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management increased its holdings in Philip Morris International by 27.1% during the 3rd quarter. Gerber Kawasaki Wealth & Investment Management now owns 2,733 shares of the company’s stock worth $522,000 after purchasing an additional 583 shares in the last quarter. GRIMES & Co WEALTH MANAGEMENT LLC raised its stake in shares of Philip Morris International by 55.6% in the 3rd quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 18,165 shares of the company’s stock valued at $3,466,000 after purchasing an additional 6,490 shares during the period. Finally, BOCHK Asset Management Ltd acquired a new stake in shares of Philip Morris International in the 3rd quarter valued at about $496,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Trading Down 0.4%

Shares of PM opened at $207.48 on Wednesday. Philip Morris International Inc. has a 12 month low of $144.22 and a 12 month high of $214.35. The firm has a fifty day simple moving average of $194.93 and a 200 day simple moving average of $182.33. The stock has a market capitalization of $323.40 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 2.79 and a beta of 0.34.

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

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Friday, October 2nd were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, October 2nd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.47. Philip Morris International’s dividend payout ratio is 93.43%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Morgan Stanley boosted their price target on Philip Morris International from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. UBS Group upped their price objective on Philip Morris International from $193.00 to $201.00 and gave the stock a “neutral” rating in a research report on Thursday, October 22nd. BTIG Research set a $221.00 price objective on Philip Morris International and gave the stock a “buy” rating in a report on Friday, July 24th. Barclays lifted their target price on Philip Morris International from $205.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Finally, Argus boosted their target price 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. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Philip Morris International currently has an average rating of “Moderate Buy” and an average price target of $212.40.

Philip Morris International 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.