Ameriprise Financial Inc. Boosts Position in Philip Morris International Inc. $PM

Ameriprise Financial Inc. grew its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 0.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,814,013 shares of the company’s stock after buying an additional 23,476 shares during the quarter. Ameriprise Financial Inc.’s holdings in Philip Morris International were worth $870,853,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Legacy Investment Solutions LLC acquired a new stake in Philip Morris International in the 2nd quarter valued at $25,000. Traub Capital Management LLC acquired a new stake in shares of Philip Morris International in the second quarter valued at about $25,000. Abound Wealth Management raised its holdings in shares of 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 buying an additional 136 shares during the period. Estabrook Capital Management acquired a new position in Philip Morris International during the 2nd quarter worth approximately $30,000. Finally, Briaud Financial Planning Inc boosted its holdings in Philip Morris International by 266.7% in the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after acquiring an additional 120 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, November 17th. Stifel Nicolaus set a $180.00 price target on shares of Philip Morris International in a report on Tuesday, October 21st. JPMorgan Chase & Co. dropped their price target on shares of Philip Morris International from $190.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. Morgan Stanley set a $175.00 price objective on shares of Philip Morris International and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Finally, Citigroup restated 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 has an average rating of “Moderate Buy” and a consensus target price of $189.00.

Philip Morris International Trading Up 1.7%

Shares of NYSE:PM opened at $153.49 on Friday. The company has a fifty day simple moving average of $153.62 and a 200 day simple moving average of $165.35. The firm has a market cap 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 Inc. has a 12-month low of $116.12 and a 12-month high of $186.69.

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 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%. As a group, equities research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

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