Adage Capital Partners GP L.L.C. Acquires 7,700 Shares of Philip Morris International Inc. $PM

Adage Capital Partners GP L.L.C. boosted its holdings in Philip Morris International Inc. (NYSE:PM) by 0.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,425,654 shares of the company’s stock after acquiring an additional 7,700 shares during the quarter. Adage Capital Partners GP L.L.C.’s holdings in Philip Morris International were worth $259,654,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new position in shares of Philip Morris International in the 2nd quarter valued at $25,000. Traub Capital Management LLC bought a new stake in Philip Morris International in the second quarter valued at about $25,000. Abound Wealth Management lifted its stake in Philip Morris International by 566.7% in the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after buying an additional 136 shares during the period. Kelly Lawrence W & Associates Inc. CA bought a new position in Philip Morris International during the first quarter worth about $30,000. Finally, Briaud Financial Planning Inc grew its position in shares of Philip Morris International by 266.7% during the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after buying an additional 120 shares during the period. 78.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a research note on Thursday, September 4th. Barclays lowered their target price on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday, November 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Finally, Wall Street Zen upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, November 17th. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $189.00.

Philip Morris International Stock Up 1.7%

Philip Morris International stock opened at $153.49 on Friday. The company has a 50 day moving average of $153.62 and a 200-day moving average of $165.35. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69. The stock has a market capitalization of $238.93 billion, a PE ratio of 27.81, a price-to-earnings-growth ratio of 1.80 and a beta of 0.42.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The business 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 analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Friday, December 26th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, December 26th. Philip Morris International’s dividend payout ratio is currently 106.52%.

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.