Conning Inc. Has $25.37 Million Stock Position in Philip Morris International Inc. $PM

Conning Inc. raised its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 156,433 shares of the company’s stock after buying an additional 7,452 shares during the quarter. Conning Inc.’s holdings in Philip Morris International were worth $25,373,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Legacy Investment Solutions LLC bought a new stake in Philip Morris International in the 2nd quarter valued at $25,000. Traub Capital Management LLC acquired a new position in shares of Philip Morris International during the second quarter valued at about $25,000. Marquette Asset Management LLC lifted its stake in shares of Philip Morris International by 1,677.8% in the third quarter. Marquette Asset Management LLC now owns 160 shares of the company’s stock valued at $26,000 after buying an additional 151 shares during the period. Abound Wealth Management grew its position in Philip Morris International by 566.7% during the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after buying an additional 136 shares in the last quarter. Finally, Briaud Financial Planning Inc increased its stake in 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 during the period. 78.63% of the stock is owned by institutional investors.

Philip Morris International Stock Performance

PM opened at $170.85 on Thursday. The firm has a market cap of $265.95 billion, a price-to-earnings ratio of 30.95, a PEG ratio of 1.78 and a beta of 0.40. The firm’s 50-day simple moving average is $156.86 and its 200-day simple moving average is $161.86. Philip Morris International Inc. has a twelve month low of $117.18 and a twelve month high of $186.69.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Friday, October 24th. The company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.14. The firm had revenue of $10.85 billion during the quarter, compared to the consensus estimate of $10.67 billion. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm posted $1.91 EPS. As a group, sell-side analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Friday, December 26th were given a dividend of $1.47 per share. The ex-dividend date was Friday, December 26th. This represents a $5.88 dividend on an annualized basis and a yield of 3.4%. Philip Morris International’s dividend payout ratio is 106.52%.

Analysts Set New Price Targets

A number of analysts have commented on the company. JPMorgan Chase & Co. reduced their price objective on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Stifel Nicolaus set a $180.00 price target on shares of Philip Morris International in a research note on Tuesday, October 21st. Barclays lowered their price target on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday, November 17th. Finally, Wall Street Zen downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $189.00.

Philip Morris International 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.