Philip Morris International Inc. $PM Holdings Lifted by Victory Financial Group LLC

Victory Financial Group LLC boosted its position in shares of Philip Morris International Inc. (NYSE:PM) by 25.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,249 shares of the company’s stock after acquiring an additional 2,678 shares during the period. Victory Financial Group LLC’s holdings in Philip Morris International were worth $2,528,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. GQG Partners LLC purchased a new stake in shares of Philip Morris International during the 2nd quarter worth $8,220,008,000. Bank of America Corp DE acquired a new position in shares of Philip Morris International during the second quarter worth $3,075,267,000. Legal & General Group Plc acquired a new position in shares of Philip Morris International during the second quarter worth $1,316,151,000. Jupiter Topco LLC acquired a new position in shares of Philip Morris International during the second quarter worth $726,464,000. Finally, Bank of New York Mellon Corp increased its holdings in Philip Morris International by 30.9% in the second quarter. Bank of New York Mellon Corp now owns 11,669,878 shares of the company’s stock valued at $2,111,198,000 after buying an additional 2,755,662 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PM has been the topic of a number of analyst reports. Morgan Stanley raised their price target on Philip Morris International from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Weiss Ratings raised Philip Morris International from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. UBS Group upped their price objective on Philip Morris International from $193.00 to $201.00 and gave the stock a “neutral” rating in a research report on Thursday, October 22nd. Barclays upped their price objective on Philip Morris International from $205.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Finally, Citigroup increased their price objective on Philip Morris International from $210.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $209.70.

Philip Morris International Stock Up 0.5%

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

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.06. The company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $11.32 billion. During the same period last year, the firm earned $2.24 earnings per share. Philip Morris International’s revenue was up 5.5% on a year-over-year basis. Equities analysts anticipate that Philip Morris International Inc. will post 8.32 EPS for the current year.

Philip Morris International Increases Dividend

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

Philip Morris International Company 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.