Global X Japan Co. Ltd. Boosts Holdings in Philip Morris International Inc. $PM

Global X Japan Co. Ltd. raised its stake in shares of Philip Morris International Inc. (NYSE:PM) by 5,523.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,614 shares of the company’s stock after purchasing an additional 18,283 shares during the period. Global X Japan Co. Ltd.’s holdings in Philip Morris International were worth $3,019,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in Philip Morris International in the second quarter valued at $25,000. Traub Capital Management LLC purchased a new position in shares of Philip Morris International in the 2nd quarter worth about $25,000. Abound Wealth Management lifted its stake in shares of Philip Morris International by 566.7% in 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 in the last quarter. Briaud Financial Planning Inc grew its holdings in shares of Philip Morris International by 266.7% during the 2nd 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. Finally, Estabrook Capital Management acquired a new stake in Philip Morris International during the 2nd quarter worth approximately $30,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Philip Morris International from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 26th. Barclays lowered their price target on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a report on Monday, November 17th. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. The Goldman Sachs Group reiterated a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Finally, Stifel Nicolaus set a $180.00 price objective on shares of Philip Morris International in a research report on Tuesday, October 21st. Twelve investment 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, Philip Morris International presently has an average rating of “Moderate Buy” and an average price target of $189.00.

Philip Morris International Stock Performance

Shares of NYSE:PM opened at $162.14 on Wednesday. The company’s fifty day moving average is $153.85 and its two-hundred day moving average is $164.06. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69. The stock has a market capitalization of $252.39 billion, a price-to-earnings ratio of 29.37, a price-to-earnings-growth ratio of 1.91 and a beta of 0.42.

Philip Morris International (NYSE:PM) last issued 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 122.14% and a net margin of 9.33%.The company had revenue of $8.12 billion during the quarter. Sell-side analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 14th. Investors of record on Friday, December 26th will be given a $1.47 dividend. The ex-dividend date is Friday, December 26th. This represents a $5.88 annualized dividend and a yield of 3.6%. Philip Morris International’s dividend payout ratio (DPR) is currently 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.