Investment Advisory Group LLC Makes New Investment in Philip Morris International Inc. $PM

Investment Advisory Group LLC acquired a new position in Philip Morris International Inc. (NYSE:PM) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,198 shares of the company’s stock, valued at approximately $218,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nuveen LLC purchased a new position in shares of Philip Morris International in the 1st quarter valued at approximately $1,712,994,000. Wellington Management Group LLP lifted its stake in shares of Philip Morris International by 26.4% in the 1st quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock valued at $3,466,730,000 after purchasing an additional 4,563,632 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Philip Morris International by 57.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company’s stock valued at $1,554,686,000 after purchasing an additional 3,575,158 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Philip Morris International by 22.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,018,628 shares of the company’s stock valued at $1,431,527,000 after purchasing an additional 1,635,636 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of Philip Morris International by 111.1% in the 1st quarter. AQR Capital Management LLC now owns 3,002,216 shares of the company’s stock valued at $473,660,000 after purchasing an additional 1,580,368 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Jefferies Financial Group assumed coverage on Philip Morris International in a research note on Wednesday, July 9th. They issued a “buy” rating and a $220.00 target price for the company. Citigroup restated a “buy” rating on shares of Philip Morris International in a research note on Thursday, September 4th. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday. JPMorgan Chase & Co. raised their target price on Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Finally, Wall Street Zen lowered Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Philip Morris International presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.44.

Philip Morris International Stock Up 2.3%

PM stock opened at $160.51 on Friday. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69. The firm has a market cap of $249.85 billion, a PE ratio of 30.52, a price-to-earnings-growth ratio of 2.34 and a beta of 0.46. The business has a 50 day moving average of $164.24 and a 200 day moving average of $168.77.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. The company had revenue of $8.12 billion during the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. On average, research analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio is 111.79%.

About Philip Morris International

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.