First Horizon Corp Acquires Shares of 76,515 Philip Morris International Inc. $PM

First Horizon Corp bought a new position in shares of Philip Morris International Inc. (NYSE:PM) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 76,515 shares of the company’s stock, valued at approximately $12,411,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new position in Philip Morris International during the second quarter valued at $25,000. Traub Capital Management LLC bought a new stake in Philip Morris International during the second quarter worth about $25,000. Marquette Asset Management LLC boosted its holdings in Philip Morris International by 1,677.8% in the third quarter. Marquette Asset Management LLC now owns 160 shares of the company’s stock worth $26,000 after acquiring an additional 151 shares in the last quarter. Abound Wealth Management boosted its holdings in Philip Morris International by 566.7% in the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after acquiring an additional 136 shares in the last quarter. Finally, Briaud Financial Planning Inc increased its holdings in shares of Philip Morris International by 266.7% during the second quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock valued at $30,000 after acquiring an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

PM has been the topic of several recent analyst reports. 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. Wall Street Zen cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Barclays lowered their price objective on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a research report on Monday, November 17th. Finally, JPMorgan Chase & Co. reduced their target price on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and a consensus target price of $189.00.

Philip Morris International Stock Performance

NYSE PM opened at $162.61 on Monday. The business’s fifty day moving average is $155.63 and its 200 day moving average is $162.01. Philip Morris International Inc. has a fifty-two week low of $116.12 and a fifty-two week high of $186.69. The company has a market capitalization of $253.13 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 1.75 and a beta of 0.40.

Philip Morris International (NYSE:PM) last issued its quarterly 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 business had revenue of $8.12 billion during the quarter. On average, sell-side analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

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