University of Texas Texas AM Investment Management Co. Purchases 35,272 Shares of Philip Morris International Inc. $PM

University of Texas Texas AM Investment Management Co. lifted its position in shares of Philip Morris International Inc. (NYSE:PM) by 252.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 49,237 shares of the company’s stock after buying an additional 35,272 shares during the quarter. Philip Morris International comprises 1.4% of University of Texas Texas AM Investment Management Co.’s holdings, making the stock its 14th biggest position. University of Texas Texas AM Investment Management Co.’s holdings in Philip Morris International were worth $8,968,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Abound Wealth Management boosted its stake in shares of Philip Morris International by 566.7% in the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after buying an additional 136 shares during the period. Kelly Lawrence W & Associates Inc. CA acquired a new position in Philip Morris International in the first quarter valued at about $30,000. Briaud Financial Planning Inc lifted its position in Philip Morris International by 266.7% during the second quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after purchasing an additional 120 shares during the period. CBIZ Investment Advisory Services LLC grew its stake in Philip Morris International by 405.0% during the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock worth $32,000 after buying an additional 162 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd bought a new position in Philip Morris International in the 1st quarter valued at about $34,000. 78.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on PM shares. JPMorgan Chase & Co. upped their price target on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Barclays cut their target price on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Stifel Nicolaus set a $180.00 price target on Philip Morris International in a research note on Tuesday. Jefferies Financial Group assumed coverage on Philip Morris International in a research report on Wednesday, July 9th. They set a “buy” rating and a $220.00 price objective for the company. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a research note on Wednesday. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $194.00.

Philip Morris International Price Performance

Shares of NYSE PM opened at $157.69 on Friday. The company has a 50 day simple moving average of $162.32 and a 200 day simple moving average of $168.98. 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 cap of $245.45 billion, a PE ratio of 28.57, a price-to-earnings-growth ratio of 2.30 and a beta of 0.46.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. The firm had revenue of $8.12 billion during the quarter. Philip Morris International had a net margin of 11.02% and a negative return on equity of 122.14%. As a group, research analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were given a dividend of $1.47 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $5.88 annualized dividend and a yield of 3.7%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio is 106.52%.

About Philip Morris International

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.