OVERSEA CHINESE BANKING Corp Ltd Takes $502,000 Position in Philip Morris International Inc. $PM

OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Philip Morris International Inc. (NYSE:PM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,097 shares of the company’s stock, valued at approximately $502,000.

Several other institutional investors have also bought and sold shares of PM. Legacy Investment Solutions LLC acquired a new position in Philip Morris International during the 2nd quarter valued at about $25,000. Traub Capital Management LLC bought a new position in shares of Philip Morris International in the second quarter valued at approximately $25,000. Marquette Asset Management LLC increased its stake in shares of Philip Morris International by 1,677.8% during the third quarter. Marquette Asset Management LLC now owns 160 shares of the company’s stock valued at $26,000 after acquiring an additional 151 shares during the period. Abound Wealth Management raised its holdings in Philip Morris International by 566.7% during the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after purchasing an additional 136 shares in the last quarter. Finally, Briaud Financial Planning Inc lifted its position in Philip Morris International by 266.7% in the second quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

PM has been the topic of several research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. JPMorgan Chase & Co. reduced their price objective on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Wall Street Zen lowered Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Morgan Stanley set a $175.00 price objective on Philip Morris International and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Philip Morris International has an average rating of “Moderate Buy” and a consensus price target of $189.00.

Philip Morris International Stock Performance

PM opened at $172.69 on Friday. The company has a market cap of $268.82 billion, a PE ratio of 31.28, a price-to-earnings-growth ratio of 1.84 and a beta of 0.40. The stock has a 50-day moving average of $157.31 and a 200-day moving average of $161.93. Philip Morris International Inc. has a 52-week low of $118.31 and a 52-week high of $186.69.

Philip Morris International (NYSE:PM) last released its earnings results on Friday, October 24th. The company reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.14. The firm had revenue of $10.85 billion during the quarter, compared to analyst estimates of $10.67 billion. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.91 EPS. On average, research analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Friday, December 26th were issued a $1.47 dividend. The ex-dividend date of this dividend was Friday, December 26th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.4%. Philip Morris International’s dividend payout ratio is presently 106.52%.

Philip Morris International Company Profile

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.