Morningstar Investment Management LLC Takes Position in Philip Morris International Inc. $PM

Key Points

• Morningstar Investment Management LLC has acquired a new stake in Philip Morris International, purchasing 2,717 shares valued at approximately $495,000 during the 2nd quarter.
• Philip Morris International announced an increase in their quarterly dividend to $1.47 per share, resulting in an annualized dividend of $5.88 and a yield of 3.7%.
• JPMorgan Chase & Co. raised their price target on Philip Morris International's shares from $175.00 to $190.00, reflecting a positive outlook for the stock with a consensus rating of "Moderate Buy."

Morningstar Investment Management LLC bought a new stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,717 shares of the company's stock, valued at approximately $495,000.

Other large investors also recently added to or reduced their stakes in the company. Abound Wealth Management raised its stake in Philip Morris International by 566.7% during the 2nd quarter. Abound Wealth Management now owns 160 shares of the company's stock valued at $29,000 after purchasing an additional 136 shares during the period. Kelly Lawrence W & Associates Inc. CA acquired a new stake in Philip Morris International during the 1st quarter valued at $30,000. CBIZ Investment Advisory Services LLC raised its stake in Philip Morris International by 405.0% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company's stock valued at $32,000 after purchasing an additional 162 shares during the period. Clal Insurance Enterprises Holdings Ltd acquired a new stake in Philip Morris International during the 1st quarter valued at $34,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Philip Morris International during the 1st quarter valued at $35,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Price Performance

Philip Morris International stock opened at $159.08 on Wednesday. The company has a market capitalization 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 one year low of $116.12 and a one year high of $186.69. The company's fifty day moving average price is $164.07 and its two-hundred day moving average price is $168.83.

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

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, October 3rd. This is a positive change from Philip Morris International's previous quarterly dividend of $1.35. This represents a $5.88 annualized dividend and a yield of 3.7%. Philip Morris International's dividend payout ratio (DPR) is currently 111.79%.

Analyst Ratings Changes

PM has been the topic of a number of research reports. JPMorgan Chase & Co. upped 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. Needham & Company LLC reaffirmed a "buy" rating and issued a $195.00 price target on shares of Philip Morris International in a research note on Wednesday, July 23rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Jefferies Financial Group initiated coverage on shares of Philip Morris International in a research note on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price target on the stock. Finally, Barclays dropped their price target on shares of Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $195.44.

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.

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