Edgestream Partners L.P. Purchases New Stake in Philip Morris International Inc. $PM

Edgestream Partners L.P. acquired a new position in Philip Morris International Inc. (NYSE:PM) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 20,770 shares of the company’s stock, valued at approximately $3,783,000.

A number of other large investors also recently added to or reduced their stakes in PM. Vanguard Group Inc. raised its stake in shares of Philip Morris International by 1.6% during the second quarter. Vanguard Group Inc. now owns 142,857,055 shares of the company’s stock worth $26,018,555,000 after buying an additional 2,235,380 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Philip Morris International by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 37,181,107 shares of the company’s stock valued at $6,760,346,000 after acquiring an additional 672,983 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Philip Morris International by 26.4% during the 1st quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock valued at $3,466,730,000 after acquiring an additional 4,563,632 shares during the last quarter. WCM Investment Management LLC lifted its stake in shares of Philip Morris International by 24,968.0% in the 2nd quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock valued at $2,041,223,000 after purchasing an additional 11,230,626 shares during the period. Finally, Nuveen LLC bought a new position in shares of Philip Morris International in the 1st quarter worth $1,712,994,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on PM. Stifel Nicolaus set a $180.00 target price on Philip Morris International in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Morgan Stanley set a $175.00 price target on shares of Philip Morris International and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Wall Street Zen raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, November 17th. Finally, Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a research note on Thursday, September 4th. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $189.00.

Philip Morris International Stock Performance

Shares of PM opened at $151.86 on Thursday. The stock has a 50 day simple moving average of $155.15 and a 200 day simple moving average of $166.54. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69. The firm has a market capitalization of $236.39 billion, a PE ratio of 27.51, a P/E/G ratio of 1.84 and a beta of 0.42.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. The firm had revenue of $8.12 billion for the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. Equities research analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Friday, October 3rd. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio (DPR) is currently 106.52%.

Philip Morris International Company 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.