Cullen Frost Bankers Inc. Raises Holdings in Philip Morris International Inc. $PM

Cullen Frost Bankers Inc. increased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 3.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 278,421 shares of the company’s stock after acquiring an additional 8,453 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Philip Morris International were worth $45,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new position in shares of Philip Morris International in the second quarter worth $25,000. Traub Capital Management LLC purchased a new position in shares of Philip Morris International in the second quarter valued at about $25,000. Marquette Asset Management LLC raised its stake in shares of Philip Morris International by 1,677.8% during the third quarter. Marquette Asset Management LLC now owns 160 shares of the company’s stock valued at $26,000 after acquiring an additional 151 shares during the last quarter. Briaud Financial Planning Inc boosted 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 worth $30,000 after purchasing an additional 120 shares during the period. Finally, Estabrook Capital Management purchased a new stake in shares of Philip Morris International during the second quarter worth about $30,000. Institutional investors own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Stifel Nicolaus set a $180.00 price target on Philip Morris International in a research report on Tuesday, October 21st. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a report on Thursday. Morgan Stanley set a $175.00 price target on shares of Philip Morris International and gave the company an “overweight” rating in a report on Wednesday, October 22nd. The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Finally, Barclays dropped their target price on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a research report on Monday, November 17th. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $184.56.

Philip Morris International Price Performance

Shares of NYSE PM opened at $173.06 on Friday. Philip Morris International Inc. has a 1 year low of $125.53 and a 1 year high of $186.69. The firm has a 50-day moving average of $159.22 and a 200 day moving average of $161.48. The stock has a market cap of $269.39 billion, a P/E ratio of 31.35, a price-to-earnings-growth ratio of 1.86 and a beta of 0.40.

Philip Morris International Dividend Announcement

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