iA Global Asset Management Inc. Increases Stake in Philip Morris International Inc. $PM

iA Global Asset Management Inc. increased its stake in Philip Morris International Inc. (NYSE:PM) by 67.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 503,663 shares of the company’s stock after purchasing an additional 202,192 shares during the period. Philip Morris International accounts for about 1.1% of iA Global Asset Management Inc.’s portfolio, making the stock its 20th largest position. iA Global Asset Management Inc.’s holdings in Philip Morris International were worth $81,694,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Atlas Legacy Advisors LLC grew its holdings in shares of Philip Morris International by 31.9% during the third quarter. Atlas Legacy Advisors LLC now owns 1,881 shares of the company’s stock valued at $305,000 after buying an additional 455 shares during the last quarter. Accredited Investors Inc. lifted its position in Philip Morris International by 7.2% during the 3rd quarter. Accredited Investors Inc. now owns 4,869 shares of the company’s stock worth $790,000 after acquiring an additional 326 shares during the period. BIP Wealth LLC grew its stake in Philip Morris International by 32.9% during the 3rd quarter. BIP Wealth LLC now owns 7,408 shares of the company’s stock valued at $1,202,000 after purchasing an additional 1,832 shares during the last quarter. Fiducient Advisors LLC increased its holdings in shares of Philip Morris International by 10.7% in the third quarter. Fiducient Advisors LLC now owns 1,422 shares of the company’s stock valued at $231,000 after purchasing an additional 138 shares during the period. Finally, Triad Wealth Partners LLC raised its stake in shares of Philip Morris International by 7.0% in the third quarter. Triad Wealth Partners LLC now owns 2,926 shares of the company’s stock worth $475,000 after purchasing an additional 191 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analyst Ratings Changes

PM has been the topic of a number of recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Barclays dropped their price objective 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. Wall Street Zen lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. JPMorgan Chase & Co. decreased 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 report on Wednesday, November 26th. Finally, Stifel Nicolaus set a $180.00 price target on Philip Morris International in a research report on Tuesday, October 21st. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $184.56.

Philip Morris International Price Performance

NYSE:PM opened at $170.00 on Friday. The company has a 50 day moving average price of $158.87 and a 200-day moving average price of $161.65. Philip Morris International Inc. has a 1-year low of $122.76 and a 1-year high of $186.69. The firm has a market cap of $264.63 billion, a price-to-earnings ratio of 30.80, a price-to-earnings-growth ratio of 1.82 and a beta of 0.40.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Friday, October 24th. The company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.10 by $0.14. The company had revenue of $10.85 billion for the quarter, compared to analyst estimates 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 revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business earned $1.91 earnings per share. On average, sell-side analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders 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 dividend yield of 3.5%. Philip Morris International’s dividend payout ratio (DPR) is 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.