Mediolanum International Funds Ltd Purchases 169,882 Shares of Philip Morris International Inc. $PM

Mediolanum International Funds Ltd lifted its position in shares of Philip Morris International Inc. (NYSE:PM) by 530.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 201,891 shares of the company’s stock after purchasing an additional 169,882 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Philip Morris International were worth $32,906,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Jefferies Financial Group cut Philip Morris International from a “buy” rating to a “hold” rating and cut their target price for the stock from $220.00 to $180.00 in a research note on Tuesday, January 20th. Stifel Nicolaus set a $180.00 price target on shares of Philip Morris International in a research note on Tuesday, October 21st. 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. 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 report on Wednesday, November 26th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $184.56.

Philip Morris International Stock Up 0.9%

PM opened at $179.42 on Friday. The stock has a market capitalization of $279.29 billion, a price-to-earnings ratio of 32.50, a PEG ratio of 1.92 and a beta of 0.40. The firm has a 50 day moving average price of $161.53 and a 200-day moving average price of $161.42. Philip Morris International Inc. has a twelve month low of $128.25 and a twelve month high of $186.69.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Friday, December 26th were issued 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 is presently 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.