Philip Morris International Inc. $PM Shares Sold by Allianz SE

Allianz SE reduced its holdings in Philip Morris International Inc. (NYSE:PM) by 1.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 163,891 shares of the company’s stock after selling 2,380 shares during the quarter. Philip Morris International makes up 0.7% of Allianz SE’s portfolio, making the stock its 27th biggest holding. Allianz SE’s holdings in Philip Morris International were worth $29,849,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. acquired a new position in shares of Philip Morris International during the 2nd quarter valued at about $382,000. Client First Capital LLC acquired a new stake in shares of Philip Morris International in the second quarter worth approximately $260,000. D Orazio & Associates Inc. grew its holdings in Philip Morris International by 7.7% in the second quarter. D Orazio & Associates Inc. now owns 9,538 shares of the company’s stock valued at $1,737,000 after purchasing an additional 684 shares during the period. Cherokee Insurance Co acquired a new position in Philip Morris International during the second quarter worth approximately $1,257,000. Finally, Police & Firemen s Retirement System of New Jersey raised its stake in Philip Morris International by 4.5% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 236,646 shares of the company’s stock worth $43,100,000 after purchasing an additional 10,278 shares during the period. 78.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PM. Citigroup restated a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. Stifel Nicolaus set a $180.00 target price on shares of Philip Morris International in a research note on Tuesday, October 21st. Barclays decreased their price target on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Morgan Stanley set a $175.00 price objective on Philip Morris International and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Philip Morris International presently has a consensus rating of “Moderate Buy” and an average target price of $194.00.

Philip Morris International Stock Down 0.8%

Philip Morris International stock opened at $155.55 on Thursday. 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 capitalization of $242.14 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 2.27 and a beta of 0.43. The firm has a 50-day moving average price of $157.70 and a two-hundred day moving average price of $168.09.

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 net margin of 9.33% and a negative return on equity of 122.14%. The firm had revenue of $8.12 billion for the quarter. Research analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were paid a dividend of $1.47 per share. 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. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.8%. Philip Morris International’s dividend payout ratio (DPR) 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.