Philip Morris International Inc. $PM Holdings Lowered by Busey Bank

Busey Bank reduced its stake in Philip Morris International Inc. (NYSE:PM) by 15.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 166,496 shares of the company’s stock after selling 30,458 shares during the period. Philip Morris International accounts for approximately 0.8% of Busey Bank’s holdings, making the stock its 29th biggest position. Busey Bank’s holdings in Philip Morris International were worth $27,006,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PM. Vanguard Group Inc. lifted its position in Philip Morris International by 1.6% in the second quarter. Vanguard Group Inc. now owns 142,857,055 shares of the company’s stock worth $26,018,555,000 after purchasing an additional 2,235,380 shares during the period. State Street Corp increased its position in shares of Philip Morris International by 1.6% during the 2nd quarter. State Street Corp now owns 55,831,655 shares of the company’s stock valued at $10,243,429,000 after purchasing an additional 871,165 shares during the period. Geode Capital Management LLC raised its stake in shares of Philip Morris International by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 37,181,107 shares of the company’s stock worth $6,760,346,000 after buying an additional 672,983 shares in the last quarter. WCM Investment Management LLC raised its stake in shares of Philip Morris International by 24,968.0% in the 2nd quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock worth $2,041,223,000 after buying an additional 11,230,626 shares in the last quarter. Finally, Fayez Sarofim & Co lifted its holdings in shares of Philip Morris International by 7.9% in the second quarter. Fayez Sarofim & Co now owns 10,676,908 shares of the company’s stock valued at $1,944,585,000 after buying an additional 782,536 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Trading Up 0.4%

PM stock opened at $162.78 on Friday. Philip Morris International Inc. has a one year low of $116.12 and a one year high of $186.69. The firm has a market capitalization of $253.38 billion, a PE ratio of 29.49, a P/E/G ratio of 1.95 and a beta of 0.42. The firm has a 50-day moving average of $154.09 and a two-hundred day moving average of $164.04.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. The business had revenue of $8.12 billion for the quarter. On average, equities research analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, December 26th. Philip Morris International’s payout ratio is 106.52%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Barclays reduced their price objective on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a research report on Monday, November 17th. Stifel Nicolaus set a $180.00 target price on shares of Philip Morris International in a report on Tuesday, October 21st. JPMorgan Chase & Co. cut their target price on shares of Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Finally, Citigroup restated a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Philip Morris International currently has an average rating of “Moderate Buy” and a consensus price target of $189.00.

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.