Philip Morris International Inc. $PM is Associated Banc Corp’s 8th Largest Position

Associated Banc Corp raised its stake in shares of Philip Morris International Inc. (NYSE:PM) by 2.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 562,807 shares of the company’s stock after purchasing an additional 13,045 shares during the period. Philip Morris International accounts for about 2.4% of Associated Banc Corp’s portfolio, making the stock its 8th biggest position. Associated Banc Corp’s holdings in Philip Morris International were worth $91,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of PM. Forum Financial Management LP lifted its position in Philip Morris International by 1.0% in the third quarter. Forum Financial Management LP now owns 14,813 shares of the company’s stock worth $2,403,000 after buying an additional 141 shares during the last quarter. Hemington Wealth Management raised its stake in shares of Philip Morris International by 21.8% in the third quarter. Hemington Wealth Management now owns 3,064 shares of the company’s stock valued at $496,000 after acquiring an additional 548 shares during the period. Legacy Trust raised its stake in shares of Philip Morris International by 33.1% in the third quarter. Legacy Trust now owns 2,557 shares of the company’s stock valued at $415,000 after acquiring an additional 636 shares during the period. TFC Financial Management Inc. lifted its holdings in shares of Philip Morris International by 2.1% in the 3rd quarter. TFC Financial Management Inc. now owns 3,471 shares of the company’s stock worth $563,000 after acquiring an additional 73 shares during the last quarter. Finally, ORG Partners LLC boosted its stake in shares of Philip Morris International by 7.5% during the 3rd quarter. ORG Partners LLC now owns 6,244 shares of the company’s stock worth $1,013,000 after purchasing an additional 438 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

NYSE PM opened at $162.61 on Friday. The company has a market capitalization of $253.13 billion, a price-to-earnings ratio of 29.46, a price-to-earnings-growth ratio of 1.75 and a beta of 0.40. The company’s 50-day simple moving average is $155.63 and its two-hundred day simple moving average is $162.13. Philip Morris International Inc. has a one year low of $116.12 and a one year high of $186.69.

Philip Morris International (NYSE:PM) last announced its quarterly 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 firm had revenue of $8.12 billion during the quarter. Equities analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th will be given 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 dividend payout ratio (DPR) is 106.52%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PM. The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Morgan Stanley set a $175.00 price objective on shares of Philip Morris International and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Stifel Nicolaus set a $180.00 target price on shares of Philip Morris International in a research report on Tuesday, October 21st. Wall Street Zen downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Twelve 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.