Coign Capital Advisors LLC Buys Shares of 3,760 Philip Morris International Inc. $PM

Coign Capital Advisors LLC purchased a new position in shares of Philip Morris International Inc. (NYSE:PM) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 3,760 shares of the company’s stock, valued at approximately $610,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake 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 valued at $26,018,555,000 after acquiring an additional 2,235,380 shares during the last quarter. State Street Corp lifted its stake in shares of Philip Morris International by 1.6% in 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 boosted its position 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 purchasing an additional 672,983 shares during the last quarter. WCM Investment Management LLC boosted its position 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 purchasing an additional 11,230,626 shares during the last quarter. Finally, Fayez Sarofim & Co grew its stake in shares of Philip Morris International by 7.9% during the second quarter. Fayez Sarofim & Co now owns 10,676,908 shares of the company’s stock worth $1,944,585,000 after purchasing an additional 782,536 shares during the period. 78.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on PM shares. Jefferies Financial Group lowered Philip Morris International from a “buy” rating to a “hold” rating and cut their target price for the company from $220.00 to $180.00 in a research note on Tuesday. JPMorgan Chase & Co. lowered their price target on 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. Wall Street Zen downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus set a $180.00 target price on shares of Philip Morris International in a research note on Tuesday, October 21st. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $184.56.

Philip Morris International Stock Performance

Shares of PM opened at $170.00 on Friday. The stock has a 50 day simple moving average of $158.87 and a 200 day simple moving average of $161.65. Philip Morris International Inc. has a 52-week low of $122.76 and a 52-week high of $186.69. The firm has a market capitalization of $264.63 billion, a PE ratio of 30.80, a P/E/G ratio of 1.82 and a beta of 0.40.

Philip Morris International (NYSE:PM) last announced its earnings results on Friday, October 24th. The company reported $2.24 EPS for the quarter, topping the consensus estimate of $2.10 by $0.14. The firm had revenue of $10.85 billion for 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 business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the company posted $1.91 EPS. Equities research analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Friday, December 26th were issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Friday, December 26th. Philip Morris International’s dividend payout ratio (DPR) is presently 106.52%.

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.