3,848 Shares in Philip Morris International Inc. $PM Bought by Kane Investment Management Inc.

Kane Investment Management Inc. acquired a new position in shares of Philip Morris International Inc. (NYSE:PM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,848 shares of the company’s stock, valued at approximately $701,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in shares of Philip Morris International in the 2nd quarter worth $25,000. Abound Wealth Management increased its holdings in shares of Philip Morris International by 566.7% in the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after purchasing an additional 136 shares during the period. Kelly Lawrence W & Associates Inc. CA purchased a new stake in shares of Philip Morris International during the first quarter worth about $30,000. Briaud Financial Planning Inc increased its stake in Philip Morris International by 266.7% during the second quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after acquiring an additional 120 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC increased its stake in shares of Philip Morris International by 405.0% during the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock worth $32,000 after buying an additional 162 shares during the period. 78.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on PM shares. KGI Securities assumed coverage on Philip Morris International in a report on Monday, August 4th. They set an “outperform” rating on the stock. Morgan Stanley set a $175.00 price target on Philip Morris International and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. 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 report on Wednesday, July 30th. The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Finally, Stifel Nicolaus set a $180.00 target price on shares of 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.00.

Philip Morris International Stock Performance

Shares of PM opened at $155.35 on Friday. The business’s 50 day moving average price is $157.45 and its two-hundred day moving average price is $167.90. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69. The firm has a market cap of $241.83 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 2.25 and a beta of 0.43.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 EPS 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. Research analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.8%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Friday, October 3rd. Philip Morris International’s payout ratio is 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.