Philip Morris International Inc. $PM Shares Acquired by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. grew its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 14.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,233 shares of the company’s stock after buying an additional 8,547 shares during the period. Oppenheimer & Co. Inc.’s holdings in Philip Morris International were worth $12,829,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Caitong International Asset Management Co. Ltd bought a new position in shares of Philip Morris International in the 2nd quarter worth about $29,000. Cedar Mountain Advisors LLC lifted its position in Philip Morris International by 60.2% during the 1st quarter. Cedar Mountain Advisors LLC now owns 189 shares of the company’s stock valued at $31,000 after acquiring an additional 71 shares during the period. Kelly Lawrence W & Associates Inc. CA purchased a new position in Philip Morris International during the 2nd quarter valued at about $34,000. Kilter Group LLC bought a new stake in Philip Morris International during the second quarter worth about $35,000. Finally, Wilkerson Advisory Group LLC boosted its stake in Philip Morris International by 109.2% during the first quarter. Wilkerson Advisory Group LLC now owns 205 shares of the company’s stock worth $34,000 after acquiring an additional 107 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PM shares. Morgan Stanley upped their price objective on shares of Philip Morris International from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. UBS Group raised their target price on shares of Philip Morris International from $193.00 to $201.00 and gave the company a “neutral” rating in a research note on Thursday, October 22nd. BTIG Research set a $221.00 target price on shares of Philip Morris International and gave the company a “buy” rating in a report on Friday, July 24th. Argus boosted their price target on Philip Morris International from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Stifel Nicolaus boosted their price target on Philip Morris International from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $209.70.

Philip Morris International Price Performance

NYSE PM opened at $202.82 on Wednesday. Philip Morris International Inc. has a 12 month low of $142.11 and a 12 month high of $210.45. The stock’s fifty day moving average price is $193.19 and its 200-day moving average price is $181.26.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Wednesday, October 21st. The company reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.06. The company had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $11.32 billion. Philip Morris International’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.24 earnings per share. On average, equities research analysts forecast that Philip Morris International Inc. will post 8.32 earnings per share for the current year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Investors of record on Friday, October 2nd were given a dividend of $1.60 per share. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend was Friday, October 2nd. This represents a $6.40 annualized dividend and a yield of 3.2%.

Philip Morris International Profile

Philip Morris International Inc (NYSE:PM) is a global tobacco and nicotine company headquartered in Stamford, Connecticut. It was established as an independent company in 2008 following the separation of Philip Morris International from Altria Group. The company develops, manufactures and markets tobacco, nicotine and other related consumer products primarily outside the United States.

Its portfolio includes internationally recognized cigarette brands such as Marlboro, Parliament, L&M, Chesterfield and Bond Street.