First Horizon Corp Purchases Shares of 76,515 Philip Morris International Inc. $PM

First Horizon Corp acquired a new position in Philip Morris International Inc. (NYSE:PM) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 76,515 shares of the company’s stock, valued at approximately $12,411,000.

Several other institutional investors have also recently made changes to their positions in PM. Corient Private Wealth LLC lifted its position in shares of Philip Morris International by 1.2% during the second quarter. Corient Private Wealth LLC now owns 490,590 shares of the company’s stock worth $89,354,000 after purchasing an additional 5,681 shares during the last quarter. Westwood Holdings Group Inc. increased its stake in Philip Morris International by 295.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 67,717 shares of the company’s stock worth $12,333,000 after buying an additional 50,610 shares during the period. Prudential Financial Inc. increased its stake in Philip Morris International by 88.9% in the 2nd quarter. Prudential Financial Inc. now owns 2,138,118 shares of the company’s stock worth $389,415,000 after buying an additional 1,006,014 shares during the period. Trek Financial LLC lifted its holdings in Philip Morris International by 732.3% during the 2nd quarter. Trek Financial LLC now owns 42,829 shares of the company’s stock valued at $7,801,000 after buying an additional 37,683 shares in the last quarter. Finally, Railway Pension Investments Ltd boosted its position in Philip Morris International by 2.9% in the 3rd quarter. Railway Pension Investments Ltd now owns 514,040 shares of the company’s stock valued at $83,377,000 after buying an additional 14,600 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

PM has been the topic of a number of research reports. Stifel Nicolaus set a $180.00 target price on shares of Philip Morris International in a research report on Tuesday, October 21st. Morgan Stanley set a $175.00 price objective on Philip Morris International and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Wall Street Zen cut Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday. JPMorgan Chase & Co. cut their price target on 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. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and an average price target of $189.00.

Philip Morris International Trading Up 2.4%

PM opened at $162.61 on Monday. The firm has a market cap of $253.13 billion, a price-to-earnings ratio of 29.46, a PEG ratio of 1.75 and a beta of 0.40. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69. The stock has a fifty day moving average price of $155.63 and a 200-day moving average price of $162.01.

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

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 14th. Investors of record on Friday, December 26th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, December 26th. This represents a $5.88 dividend on an annualized basis and a yield of 3.6%. Philip Morris International’s dividend payout ratio is presently 106.52%.

Philip Morris International Profile

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.