Philip Morris International Inc. $PM Shares Newly Acquired by Factory Mutual Insurance Co.

Key Points

• Factory Mutual Insurance Co. opened a sizable position in Philip Morris International, acquiring 338,406 shares valued at about $64.6 million in the third quarter. Institutional investors and hedge funds collectively own 78.63% of the company.
• Philip Morris reported quarterly EPS of $2.36, beating the $2.30 consensus, while revenue of $11.44 billion also topped estimates and rose 5.5% year over year.
• The company raised its quarterly dividend from $1.47 to $1.60 per share, equivalent to $6.40 annually and a 3.1% yield. Analysts’ consensus rating was “Moderate Buy,” with a $212.40 average price target.

Factory Mutual Insurance Co. acquired a new position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 338,406 shares of the company's stock, valued at approximately $64,575,000.

A number of other hedge funds have also made changes to their positions in PM. Garde Capital Inc. increased its position in shares of Philip Morris International by 4.5% during the third 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 raised its stake in Philip Morris International by 27.1% in the 3rd quarter. Gerber Kawasaki Wealth & Investment Management now owns 2,733 shares of the company's stock valued at $522,000 after purchasing an additional 583 shares during the last quarter. GRIMES & Co WEALTH MANAGEMENT LLC lifted its holdings in 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 in the last quarter. BOCHK Asset Management Ltd purchased a new position in Philip Morris International in the 3rd quarter valued at $496,000. Finally, Signature Equity Partners LLC lifted its holdings in Philip Morris International by 8.8% in the 3rd quarter. Signature Equity Partners LLC now owns 2,513 shares of the company's stock valued at $480,000 after purchasing an additional 204 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

Philip Morris International Stock Performance

NYSE:PM opened at $207.48 on Wednesday. Philip Morris International Inc. has a one year low of $144.22 and a one year high of $214.35. The stock has a market cap of $323.40 billion, a PE ratio of 30.29, a P/E/G ratio of 2.79 and a beta of 0.34. The stock has a 50 day moving average price of $194.93 and a 200 day moving average price of $182.33.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The company reported $2.36 EPS for the quarter, topping analysts' consensus estimates of $2.30 by $0.06. The firm had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $11.32 billion. Philip Morris International had a negative return on equity of 183.96% and a net margin of 10.73%. The firm's revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.24 earnings per share. As a group, 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 announced a quarterly dividend, which was paid on Monday, October 26th. Shareholders of record on Friday, October 2nd were paid a $1.60 dividend. This is a boost from Philip Morris International's previous quarterly dividend of $1.47. The ex-dividend date of this dividend was Friday, October 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.1%. Philip Morris International's dividend payout ratio is 93.43%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PM shares. BTIG Research set a $221.00 target price on shares of Philip Morris International and gave the stock a "buy" rating in a research note on Friday, July 24th. Morgan Stanley increased their target price on shares of Philip Morris International from $200.00 to $215.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Needham & Company LLC raised their price target on shares of Philip Morris International from $215.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, October 22nd. Barclays boosted their price target on shares of Philip Morris International from $205.00 to $225.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Finally, Argus boosted their price target on shares of Philip Morris International from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Monday, October 26th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.

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