Intact Investment Management Inc. Increases Stock Holdings in Philip Morris International Inc. $PM

Intact Investment Management Inc. boosted its stake in Philip Morris International Inc. (NYSE:PM) by 21.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 143,900 shares of the company’s stock after buying an additional 25,900 shares during the quarter. Intact Investment Management Inc.’s holdings in Philip Morris International were worth $23,341,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Legacy Investment Solutions LLC bought a new stake in shares of Philip Morris International in the 2nd quarter worth $25,000. Traub Capital Management LLC purchased a new position in Philip Morris International during the second quarter worth about $25,000. Marquette Asset Management LLC grew its position 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 worth $26,000 after purchasing an additional 151 shares in the last quarter. Briaud Financial Planning Inc increased its stake in Philip Morris International by 266.7% in 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 during the last quarter. Finally, Estabrook Capital Management purchased a new stake in Philip Morris International in the 2nd quarter valued at about $30,000. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Price Performance

Shares of PM opened at $173.06 on Monday. Philip Morris International Inc. has a 1 year low of $125.53 and a 1 year high of $186.69. The stock’s fifty day moving average price is $159.22 and its two-hundred day moving average price is $161.37. The firm has a market cap of $269.39 billion, a PE ratio of 31.35, a PEG ratio of 1.86 and a beta of 0.40.

Philip Morris International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th were issued a dividend of $1.47 per share. The ex-dividend date of this dividend was Friday, December 26th. This represents a $5.88 annualized dividend and a yield of 3.4%. Philip Morris International’s dividend payout ratio is 106.52%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PM. Wall Street Zen downgraded Philip Morris International from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Jefferies Financial Group downgraded Philip Morris International from a “buy” rating to a “hold” rating and reduced their price objective for the company from $220.00 to $180.00 in a research note on Tuesday, January 20th. Morgan Stanley set a $175.00 target price on Philip Morris International and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. reduced their price target 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. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.