iA Global Asset Management Inc. Sells 1,994 Shares of Philip Morris International Inc. $PM

iA Global Asset Management Inc. decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 0.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 301,471 shares of the company’s stock after selling 1,994 shares during the quarter. iA Global Asset Management Inc.’s holdings in Philip Morris International were worth $54,907,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Mission Wealth Management LP increased its holdings in shares of Philip Morris International by 1.3% during the second quarter. Mission Wealth Management LP now owns 10,376 shares of the company’s stock valued at $1,890,000 after acquiring an additional 129 shares in the last quarter. Gilbert & Cook Inc. increased its holdings in shares of Philip Morris International by 8.0% during the second quarter. Gilbert & Cook Inc. now owns 9,998 shares of the company’s stock valued at $1,821,000 after acquiring an additional 739 shares in the last quarter. TIAA Trust National Association increased its holdings in shares of Philip Morris International by 171.0% during the second quarter. TIAA Trust National Association now owns 139,444 shares of the company’s stock valued at $25,397,000 after acquiring an additional 87,984 shares in the last quarter. MUFG Securities EMEA plc bought a new stake in shares of Philip Morris International during the second quarter valued at approximately $9,835,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its holdings in Philip Morris International by 22.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,435 shares of the company’s stock worth $443,000 after buying an additional 441 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Trading Down 1.0%

PM stock opened at $144.33 on Friday. The stock’s fifty day simple moving average is $160.05 and its two-hundred day simple moving average is $168.86. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69. The stock has a market cap of $224.67 billion, a P/E ratio of 26.15, a P/E/G ratio of 2.09 and a beta of 0.46.

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

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Friday, October 3rd were given a $1.47 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Friday, October 3rd. Philip Morris International’s payout ratio is presently 106.52%.

Analyst Ratings Changes

PM has been the subject of several recent research reports. Wall Street Zen upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Saturday. The Goldman Sachs Group reiterated a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Needham & Company LLC reiterated a “buy” rating and set a $195.00 price target on shares of Philip Morris International in a report on Wednesday, July 23rd. JPMorgan Chase & Co. upped their price target on Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Finally, Morgan Stanley set a $175.00 price target on Philip Morris International and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Philip Morris International has an average rating of “Moderate Buy” and a consensus price target of $194.00.

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.