Lockheed Martin Investment Management Co. Buys Shares of 115,200 Philip Morris International Inc. $PM

Lockheed Martin Investment Management Co. bought a new stake in shares of Philip Morris International Inc. (NYSE:PM) in the second quarter, HoldingsChannel.com reports. The firm bought 115,200 shares of the company’s stock, valued at approximately $20,981,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Philip Morris International by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 140,621,675 shares of the company’s stock valued at $22,320,878,000 after buying an additional 1,189,283 shares during the last quarter. Wellington Management Group LLP raised its stake in Philip Morris International by 26.4% during the 1st quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock valued at $3,466,730,000 after buying an additional 4,563,632 shares during the last quarter. WCM Investment Management LLC raised its stake in 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 valued at $2,041,223,000 after buying an additional 11,230,626 shares during the last quarter. Nuveen LLC purchased a new stake in Philip Morris International during the 1st quarter valued at $1,712,994,000. Finally, Goldman Sachs Group Inc. raised its stake in Philip Morris International by 57.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company’s stock valued at $1,554,686,000 after buying an additional 3,575,158 shares during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. KGI Securities assumed coverage on Philip Morris International in a report on Monday, August 4th. They issued an “outperform” rating on the stock. Barclays decreased their target price on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Finally, Morgan Stanley set a $175.00 target price on Philip Morris International and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Philip Morris International presently has a consensus rating of “Moderate Buy” and an average price target of $194.00.

Philip Morris International Stock Down 0.6%

NYSE:PM opened at $145.83 on Friday. The business’s 50-day simple moving average is $160.60 and its two-hundred day simple moving average is $168.89. The stock has a market cap of $227.00 billion, a PE ratio of 26.42, a P/E/G ratio of 2.13 and a beta of 0.46. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69.

Philip Morris International (NYSE:PM) last announced its quarterly 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 net margin of 9.33% and a negative return on equity of 122.14%. Sell-side analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were given a dividend of $1.47 per share. The ex-dividend date was Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.0%. Philip Morris International’s dividend payout ratio (DPR) is 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.