Philip Morris International Inc. $PM Stake Boosted by Associated Banc Corp

Associated Banc Corp raised its stake in Philip Morris International Inc. (NYSE:PM) by 1.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 549,762 shares of the company’s stock after purchasing an additional 5,792 shares during the quarter. Philip Morris International accounts for 2.8% of Associated Banc Corp’s portfolio, making the stock its 7th biggest position. Associated Banc Corp’s holdings in Philip Morris International were worth $100,128,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in PM. Legacy Investment Solutions LLC bought a new stake in Philip Morris International during the 2nd quarter valued at $25,000. Traub Capital Management LLC bought a new stake in shares of Philip Morris International in the second quarter worth about $25,000. Abound Wealth Management increased its holdings in Philip Morris International by 566.7% during the 2nd 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. Briaud Financial Planning Inc raised its position in Philip Morris International by 266.7% during the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock valued at $30,000 after purchasing an additional 120 shares during the last quarter. Finally, Kelly Lawrence W & Associates Inc. CA purchased a new stake in Philip Morris International in the 1st quarter worth approximately $30,000. Institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Morgan Stanley set a $175.00 target price on Philip Morris International and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Citigroup restated a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. Barclays cut their target price on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a research note on Monday, November 17th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Philip Morris International presently has an average rating of “Moderate Buy” and an average price target of $189.56.

Philip Morris International Trading Down 2.9%

Shares of NYSE:PM opened at $150.75 on Tuesday. The stock has a fifty day simple moving average of $156.20 and a two-hundred day simple moving average of $167.09. Philip Morris International Inc. has a 12-month low of $116.12 and a 12-month high of $186.69. The stock has a market capitalization of $234.67 billion, a price-to-earnings ratio of 27.31, a PEG ratio of 1.83 and a beta of 0.43.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results 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 negative return on equity of 122.14% and a net margin of 9.33%. As a group, equities research analysts predict that Philip Morris International Inc. will post 7.14 EPS 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 issued a dividend of $1.47 per share. The ex-dividend date was Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.9%. Philip Morris International’s dividend payout ratio is currently 106.52%.

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.