AE Wealth Management LLC Raises Holdings in Philip Morris International Inc. $PM

AE Wealth Management LLC raised its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 4.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 336,038 shares of the company’s stock after buying an additional 14,132 shares during the quarter. AE Wealth Management LLC’s holdings in Philip Morris International were worth $54,505,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in shares of Philip Morris International in the second quarter valued at approximately $25,000. Traub Capital Management LLC acquired a new position in Philip Morris International during the second quarter worth $25,000. Marquette Asset Management LLC grew its holdings in Philip Morris International by 1,677.8% in the 3rd quarter. Marquette Asset Management LLC now owns 160 shares of the company’s stock valued at $26,000 after buying an additional 151 shares in the last quarter. Briaud Financial Planning Inc increased its stake in shares of Philip Morris International by 266.7% in the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after acquiring an additional 120 shares during the last quarter. Finally, Estabrook Capital Management purchased a new position in shares of Philip Morris International during the 2nd quarter worth $30,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Price Performance

PM opened at $178.56 on Thursday. The business has a fifty day moving average price of $160.61 and a 200 day moving average price of $161.45. Philip Morris International Inc. has a 12 month low of $128.25 and a 12 month high of $186.69. The stock has a market capitalization of $277.95 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 1.92 and a beta of 0.40.

Philip Morris International Dividend Announcement

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. This represents a $5.88 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, December 26th. Philip Morris International’s dividend payout ratio (DPR) is 106.52%.

Analyst Ratings Changes

PM has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Philip Morris International from $190.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. Jefferies Financial Group cut Philip Morris International from a “buy” rating to a “hold” rating and decreased their price objective for the company from $220.00 to $180.00 in a report on Tuesday, January 20th. Stifel Nicolaus set a $180.00 target price on Philip Morris International in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a research note on Thursday, January 22nd. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $184.56.

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.