Morningstar Investment Management LLC Purchases Shares of 2,717 Philip Morris International Inc. $PM

Morningstar Investment Management LLC purchased a new stake in shares of Philip Morris International Inc. (NYSE:PM) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 2,717 shares of the company’s stock, valued at approximately $495,000.

A number of other hedge funds also recently bought and sold shares of the company. PFS Partners LLC boosted its holdings in Philip Morris International by 24.8% during the second quarter. PFS Partners LLC now owns 292 shares of the company’s stock valued at $53,000 after acquiring an additional 58 shares during the period. Perigon Wealth Management LLC lifted its stake in shares of Philip Morris International by 0.4% in the first quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company’s stock valued at $2,236,000 after buying an additional 60 shares during the period. TBH Global Asset Management LLC lifted its stake in shares of Philip Morris International by 0.9% in the first quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company’s stock valued at $1,100,000 after buying an additional 61 shares during the period. Uncommon Cents Investing LLC lifted its stake in shares of Philip Morris International by 1.1% in the second quarter. Uncommon Cents Investing LLC now owns 5,666 shares of the company’s stock valued at $1,032,000 after buying an additional 61 shares during the period. Finally, NFP Retirement Inc. lifted its stake in shares of Philip Morris International by 2.5% in the first quarter. NFP Retirement Inc. now owns 2,589 shares of the company’s stock valued at $411,000 after buying an additional 62 shares during the period. 78.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wall Street Zen cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Jefferies Financial Group assumed coverage on shares of Philip Morris International in a research note on Wednesday, July 9th. They issued a “buy” rating and a $220.00 target price for the company. UBS Group reduced their target price on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research note on Friday, September 5th. KGI Securities assumed coverage on shares of Philip Morris International in a research note on Monday, August 4th. They issued an “outperform” rating for the company. Finally, Barclays reduced their target price on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and an average target price of $195.44.

Philip Morris International Stock Down 0.2%

Shares of PM opened at $159.08 on Wednesday. The stock has a market cap of $247.62 billion, a price-to-earnings ratio of 30.24, a P/E/G ratio of 2.33 and a beta of 0.46. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69. The company has a 50-day moving average price of $164.07 and a two-hundred day moving average price of $168.83.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The firm had revenue of $8.12 billion during the quarter. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. Equities research analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be issued a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 annualized dividend and a dividend yield of 3.7%. Philip Morris International’s dividend payout ratio (DPR) is 111.79%.

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.