Park Avenue Securities LLC Has $19.13 Million Stock Holdings in Philip Morris International Inc. $PM

Park Avenue Securities LLC grew its position in shares of Philip Morris International Inc. (NYSE:PM) by 4.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 117,938 shares of the company’s stock after buying an additional 4,631 shares during the period. Park Avenue Securities LLC’s holdings in Philip Morris International were worth $19,130,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PM. Brighton Jones LLC boosted its holdings in Philip Morris International by 31.1% in the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock valued at $1,027,000 after purchasing an additional 2,023 shares during the period. Revolve Wealth Partners LLC raised its position in shares of Philip Morris International by 4.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock valued at $252,000 after buying an additional 91 shares in the last quarter. Fred Alger Management LLC boosted its stake in shares of Philip Morris International by 9.2% in the first quarter. Fred Alger Management LLC now owns 35,359 shares of the company’s stock valued at $5,658,000 after buying an additional 2,969 shares during the period. Empowered Funds LLC grew its position in Philip Morris International by 29.9% during the first quarter. Empowered Funds LLC now owns 159,906 shares of the company’s stock worth $25,382,000 after buying an additional 36,767 shares in the last quarter. Finally, Woodline Partners LP grew its position in Philip Morris International by 40.7% during the first quarter. Woodline Partners LP now owns 131,362 shares of the company’s stock worth $20,851,000 after buying an additional 37,988 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Down 2.9%

Philip Morris International stock opened at $155.29 on Wednesday. The stock has a market cap of $241.73 billion, a PE ratio of 28.13, a P/E/G ratio of 1.72 and a beta of 0.40. Philip Morris International Inc. has a 12-month low of $116.12 and a 12-month high of $186.69. The business’s 50-day moving average price is $154.84 and its two-hundred day moving average price is $162.52.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. The company had revenue of $8.12 billion for the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. As a group, analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, December 26th. Philip Morris International’s payout ratio is presently 106.52%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. 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. 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 research note on Wednesday, November 26th. Wall Street Zen upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, November 17th. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Finally, Barclays cut their price target on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a report on Monday, November 17th. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $189.00.

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.