Connable Office Inc. Purchases New Position in Philip Morris International Inc. $PM

Connable Office Inc. purchased a new stake in shares of Philip Morris International Inc. (NYSE:PM) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 11,626 shares of the company’s stock, valued at approximately $2,117,000.

Other institutional investors also recently bought and sold shares of the company. WCM Investment Management LLC increased its position in shares of Philip Morris International by 24,968.0% in the second 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 in the last quarter. Nuveen LLC purchased a new stake in shares of Philip Morris International in the first quarter valued at approximately $1,712,994,000. Wellington Management Group LLP increased its position in shares of Philip Morris International by 26.4% in the first 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 in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Philip Morris International by 57.5% in the first 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Philip Morris International by 22.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,018,628 shares of the company’s stock valued at $1,431,527,000 after buying an additional 1,635,636 shares in the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Needham & Company LLC restated a “buy” rating and issued a $195.00 price objective on shares of Philip Morris International in a research report on Wednesday, July 23rd. Barclays lowered their price target on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th. JPMorgan Chase & Co. lifted their price target on Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Jefferies Financial Group assumed coverage on Philip Morris International in a research note on Wednesday, July 9th. They issued a “buy” rating and a $220.00 price target on the stock. Finally, Stifel Nicolaus set a $180.00 price target on Philip Morris International in a research note on Tuesday, October 21st. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $194.00.

Philip Morris International Stock Up 0.2%

NYSE:PM opened at $144.58 on Tuesday. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69. The company has a market capitalization of $225.06 billion, a P/E ratio of 26.19, a P/E/G ratio of 2.09 and a beta of 0.43. The stock’s fifty day moving average is $159.59 and its two-hundred day moving average is $168.79.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. The firm 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%. 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 firm 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 of this dividend was Friday, October 3rd. This represents a $5.88 annualized dividend and a dividend yield of 4.1%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s payout ratio is currently 106.52%.

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.