Y Intercept Hong Kong Ltd Takes Position in Philip Morris International Inc. $PM

Y Intercept Hong Kong Ltd purchased a new stake in Philip Morris International Inc. (NYSE:PM) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 85,815 shares of the company’s stock, valued at approximately $13,919,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Corient Private Wealth LLC increased its position in shares of Philip Morris International by 1.2% during the 2nd quarter. Corient Private Wealth LLC now owns 490,590 shares of the company’s stock worth $89,354,000 after purchasing an additional 5,681 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Philip Morris International by 10.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 549,481 shares of the company’s stock valued at $84,922,000 after buying an additional 51,399 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in Philip Morris International by 295.8% during the second quarter. Westwood Holdings Group Inc. now owns 67,717 shares of the company’s stock worth $12,333,000 after buying an additional 50,610 shares during the last quarter. Dynasty Wealth Management LLC grew its stake in Philip Morris International by 53.0% during the third quarter. Dynasty Wealth Management LLC now owns 27,772 shares of the company’s stock worth $4,505,000 after buying an additional 9,622 shares during the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of Philip Morris International by 88.9% during the second quarter. Prudential Financial Inc. now owns 2,138,118 shares of the company’s stock worth $389,415,000 after buying an additional 1,006,014 shares in the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PM has been the subject of a number of research analyst reports. Wall Street Zen cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. JPMorgan Chase & Co. dropped their price target on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Morgan Stanley set a $175.00 price objective on Philip Morris International and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Jefferies Financial Group cut Philip Morris International from a “buy” rating to a “hold” rating and decreased their target price for the stock from $220.00 to $180.00 in a report on Tuesday. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $184.56.

Philip Morris International Stock Performance

Shares of PM opened at $173.06 on Friday. The business’s fifty day moving average price is $159.22 and its two-hundred day moving average price is $161.60. The firm has a market capitalization of $269.39 billion, a price-to-earnings ratio of 31.35, a PEG ratio of 1.83 and a beta of 0.40. Philip Morris International Inc. has a 52 week low of $125.53 and a 52 week high of $186.69.

Philip Morris International (NYSE:PM) last released its earnings results on Friday, October 24th. The company reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.14. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The company had revenue of $10.85 billion during the quarter, compared to the consensus estimate of $10.67 billion. During the same quarter in the previous year, the company posted $1.91 earnings per share. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The company 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. This represents a $5.88 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Friday, December 26th. Philip Morris International’s 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.