New York Life Investment Management LLC Has $37.92 Million Stock Holdings in Philip Morris International Inc. $PM

New York Life Investment Management LLC grew its holdings in Philip Morris International Inc. (NYSE:PM) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 208,177 shares of the company’s stock after buying an additional 3,727 shares during the quarter. New York Life Investment Management LLC’s holdings in Philip Morris International were worth $37,915,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Linscomb Wealth Inc. raised its stake in shares of Philip Morris International by 3.3% in the 1st quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company’s stock valued at $13,207,000 after buying an additional 2,669 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Philip Morris International by 7.3% in the 1st quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company’s stock valued at $568,873,000 after buying an additional 242,799 shares in the last quarter. 49 Wealth Management LLC raised its stake in shares of Philip Morris International by 79.0% in the 1st quarter. 49 Wealth Management LLC now owns 5,334 shares of the company’s stock valued at $847,000 after buying an additional 2,354 shares in the last quarter. Cortland Associates Inc. MO raised its stake in shares of Philip Morris International by 704.0% in the 1st quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company’s stock valued at $22,690,000 after buying an additional 125,171 shares in the last quarter. Finally, First American Trust FSB raised its stake in shares of Philip Morris International by 80.0% in the 1st quarter. First American Trust FSB now owns 56,382 shares of the company’s stock valued at $8,949,000 after buying an additional 25,063 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Trading Down 2.7%

PM opened at $153.35 on Tuesday. The stock has a market capitalization of $238.70 billion, a PE ratio of 27.78, a PEG ratio of 2.28 and a beta of 0.46. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69. The firm has a 50-day moving average price of $162.06 and a two-hundred day moving average price of $169.11.

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. The firm had revenue of $8.12 billion during the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. On average, research analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The business 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 represents a $5.88 annualized dividend and a yield of 3.8%. The ex-dividend date was Friday, October 3rd. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio is 106.52%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PM. Stifel Nicolaus set a $180.00 target price on shares of Philip Morris International in a research report on Tuesday, October 21st. JPMorgan Chase & Co. increased their target price on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. KGI Securities began coverage on shares of Philip Morris International in a research report on Monday, August 4th. They set an “outperform” rating for the company. Needham & Company LLC reiterated a “buy” rating and set a $195.00 target price on shares of Philip Morris International in a research report on Wednesday, July 23rd. Finally, Wall Street Zen cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International presently has an average rating of “Moderate Buy” and a consensus target price of $194.00.

Philip Morris International 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.