Generali Asset Management SPA SGR Acquires 17,283 Shares of Philip Morris International Inc. $PM

Key Points

• Generali Asset Management SPA SGR increased its holdings in Philip Morris International by 33.7% in Q2, acquiring an additional 17,283 shares, bringing their total to 68,624 shares valued at approximately $12.5 million.
• Despite some analysts lowering their price targets, the consensus rating on Philip Morris International remains a "Moderate Buy" with an average target price of $195.44.
• Philip Morris International recently declared a dividend increase from $1.35 to $1.47 per share, which translates to an annualized payout of $5.88 and a yield of 3.7%.

Generali Asset Management SPA SGR grew its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 33.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,624 shares of the company's stock after acquiring an additional 17,283 shares during the quarter. Generali Asset Management SPA SGR's holdings in Philip Morris International were worth $12,498,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of PM. PFS Partners LLC increased its holdings in shares of Philip Morris International by 24.8% in the 2nd quarter. PFS Partners LLC now owns 292 shares of the company's stock worth $53,000 after buying an additional 58 shares during the last quarter. Perigon Wealth Management LLC lifted its holdings in shares of Philip Morris International by 0.4% during the 1st quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company's stock worth $2,236,000 after acquiring an additional 60 shares during the last quarter. TBH Global Asset Management LLC grew its position in Philip Morris International by 0.9% in the first quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company's stock worth $1,100,000 after acquiring an additional 61 shares in the last quarter. Uncommon Cents Investing LLC increased its stake in Philip Morris International by 1.1% in the second quarter. Uncommon Cents Investing LLC now owns 5,666 shares of the company's stock valued at $1,032,000 after acquiring an additional 61 shares during the last quarter. Finally, NFP Retirement Inc. increased its stake in Philip Morris International by 2.5% in the first quarter. NFP Retirement Inc. now owns 2,589 shares of the company's stock valued at $411,000 after acquiring an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PM. UBS Group dropped their price target on Philip Morris International from $177.00 to $166.00 and set a "neutral" rating for the company in a research note on Friday, September 5th. Citigroup restated a "buy" rating on shares of Philip Morris International in a research report on Thursday, September 4th. Weiss Ratings reiterated a "buy (b)" rating on shares of Philip Morris International in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price target on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, Wall Street Zen lowered shares of Philip Morris International from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $195.44.

Philip Morris International Price Performance

PM opened at $159.08 on Wednesday. The stock's 50 day simple moving average is $164.07 and its 200 day simple moving average is $168.83. The firm has a market cap of $247.62 billion, a price-to-earnings ratio of 30.24, a PEG ratio of 2.33 and a beta of 0.46. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%.The firm had revenue of $8.12 billion during the quarter. As a group, sell-side analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be issued a $1.47 dividend. This is a boost from Philip Morris International's previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a yield of 3.7%. Philip Morris International's payout ratio is 111.79%.

About Philip Morris International

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.

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