Generali Asset Management SPA SGR Grows Stake in Philip Morris International Inc. $PM

Generali Asset Management SPA SGR grew its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 33.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 68,624 shares of the company’s stock after buying an additional 17,283 shares during the period. Generali Asset Management SPA SGR’s holdings in Philip Morris International were worth $12,498,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Granite Group Advisors LLC purchased a new stake in Philip Morris International in the second quarter worth $610,000. Ritholtz Wealth Management raised its holdings in Philip Morris International by 31.7% in the 2nd quarter. Ritholtz Wealth Management now owns 80,993 shares of the company’s stock worth $14,751,000 after purchasing an additional 19,506 shares in the last quarter. Curated Wealth Partners LLC purchased a new stake in shares of Philip Morris International in the 2nd quarter worth about $205,000. Private Wealth Asset Management LLC boosted its stake in shares of Philip Morris International by 4.8% during the 2nd quarter. Private Wealth Asset Management LLC now owns 13,775 shares of the company’s stock valued at $2,509,000 after purchasing an additional 628 shares in the last quarter. Finally, Harbour Investments Inc. increased its position in shares of Philip Morris International by 10.2% during the second quarter. Harbour Investments Inc. now owns 13,913 shares of the company’s stock valued at $2,534,000 after buying an additional 1,285 shares during the period. Institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on PM. Needham & Company LLC restated a “buy” rating and issued a $195.00 price objective on shares of Philip Morris International in a report on Wednesday, July 23rd. UBS Group lowered their target price on 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. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. JPMorgan Chase & Co. increased their price objective 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, Wall Street Zen cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and an average price target of $195.44.

Philip Morris International Stock Down 0.2%

PM stock opened at $159.08 on Wednesday. The business has a 50 day moving average of $164.07 and a 200 day moving average of $168.83. The firm has a market cap of $247.62 billion, a PE ratio of 30.24, a price-to-earnings-growth ratio of 2.33 and a beta of 0.46. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%.The business had revenue of $8.12 billion for the quarter. On average, research analysts expect 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 will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be paid a dividend of $1.47 per share. The ex-dividend date is Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a yield of 3.7%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio (DPR) is 111.79%.

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.