Tema Etfs LLC Buys Shares of 29,388 Philip Morris International Inc. $PM

Tema Etfs LLC purchased a new position in shares of Philip Morris International Inc. (NYSE:PM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 29,388 shares of the company’s stock, valued at approximately $4,767,000.

Several other institutional investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new position in Philip Morris International during the 2nd quarter worth about $25,000. Traub Capital Management LLC purchased a new stake in shares of Philip Morris International in the 2nd quarter worth approximately $25,000. Abound Wealth Management boosted its stake in shares of Philip Morris International by 566.7% during the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after purchasing an additional 136 shares in the last quarter. Briaud Financial Planning Inc increased its holdings in Philip Morris International by 266.7% during the second quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock valued at $30,000 after buying an additional 120 shares during the period. Finally, Estabrook Capital Management purchased a new position in Philip Morris International during the second quarter valued at approximately $30,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

Shares of NYSE:PM opened at $162.61 on Monday. The business’s 50-day moving average is $155.63 and its 200 day moving average is $162.01. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69. The firm has a market capitalization of $253.13 billion, a P/E ratio of 29.46, a P/E/G ratio of 1.75 and a beta of 0.40.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The business had revenue of $8.12 billion during the quarter. On average, analysts expect that Philip Morris International Inc. will post 7.14 EPS 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 given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, December 26th. Philip Morris International’s payout ratio is currently 106.52%.

Analysts Set New Price Targets

PM has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their target price 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. Barclays decreased their price objective on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday, November 17th. Stifel Nicolaus set a $180.00 target price on Philip Morris International in a research note on Tuesday, October 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Finally, Morgan Stanley set a $175.00 price target on shares of Philip Morris International and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $189.00.

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.