Philip Morris International Inc. $PM Stake Raised by Independence Bank of Kentucky

Independence Bank of Kentucky boosted its holdings in Philip Morris International Inc. (NYSE:PM) by 26.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,387 shares of the company’s stock after acquiring an additional 4,241 shares during the quarter. Independence Bank of Kentucky’s holdings in Philip Morris International were worth $3,307,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Legacy Investment Solutions LLC bought a new position in Philip Morris International in the 2nd quarter valued at about $25,000. Traub Capital Management LLC bought a new position in shares of Philip Morris International in the second quarter valued at approximately $25,000. Abound Wealth Management increased its stake in shares of Philip Morris International by 566.7% during the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after acquiring an additional 136 shares during the period. Kelly Lawrence W & Associates Inc. CA acquired a new position in shares of Philip Morris International during the first quarter valued at approximately $30,000. Finally, Briaud Financial Planning Inc raised its holdings in 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 in the last quarter. Institutional investors own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

PM has been the topic of several research analyst reports. Barclays lowered their price target on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a research report on Monday, November 17th. UBS Group decreased their target price on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research note on Friday, September 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, November 17th. Finally, Morgan Stanley set a $175.00 price objective on shares of Philip Morris International and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Philip Morris International presently has a consensus rating of “Moderate Buy” and a consensus price target of $189.00.

Philip Morris International Trading Down 0.2%

NYSE PM opened at $157.07 on Friday. The stock’s 50-day moving average price is $153.79 and its two-hundred day moving average price is $164.59. The company has a market cap of $244.49 billion, a PE ratio of 28.45, a PEG ratio of 1.87 and a beta of 0.42. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The firm had revenue of $8.12 billion during the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. Research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 14th. Investors of record on Friday, December 26th will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, December 26th. Philip Morris International’s dividend 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.