GRIMES & Co WEALTH MANAGEMENT LLC Raises Stake in Philip Morris International Inc. $PM

GRIMES & Co WEALTH MANAGEMENT LLC increased its position in Philip Morris International Inc. (NYSE:PM) by 52.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,614 shares of the company’s stock after acquiring an additional 3,309 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Philip Morris International were worth $1,559,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. WCM Investment Management LLC lifted its stake in shares of Philip Morris International by 24,968.0% during the 2nd quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock worth $2,041,223,000 after purchasing an additional 11,230,626 shares during the period. Vanguard Group Inc. lifted its position in 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 period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Philip Morris International by 69.0% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,512,311 shares of the company’s stock worth $821,826,000 after buying an additional 1,842,754 shares during the last quarter. Prudential Financial Inc. grew its holdings 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 valued at $389,415,000 after buying an additional 1,006,014 shares during the period. Finally, Panagora Asset Management Inc. increased its stake in shares of Philip Morris International by 142.2% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,512,514 shares of the company’s stock valued at $275,474,000 after acquiring an additional 888,148 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Trading Up 0.5%

NYSE:PM opened at $165.91 on Wednesday. The firm’s fifty day simple moving average is $156.41 and its 200 day simple moving average is $161.79. Philip Morris International Inc. has a twelve month low of $117.18 and a twelve month high of $186.69. The firm has a market capitalization of $258.26 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 1.78 and a beta of 0.40.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Friday, October 24th. The company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.14. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The company had revenue of $10.85 billion for the quarter, compared to analysts’ expectations of $10.67 billion. During the same quarter in the previous year, the firm posted $1.91 earnings per share. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. On average, analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 3.5%. Philip Morris International’s payout ratio is 106.52%.

Analyst Ratings Changes

PM has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Stifel Nicolaus set a $180.00 price objective on shares of Philip Morris International in a research note on Tuesday, October 21st. Barclays dropped their price objective on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a report on Monday, November 17th. Finally, Morgan Stanley set a $175.00 price target on Philip Morris International and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Twelve research 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $189.00.

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.