Night Squared LP Purchases New Position in Philip Morris International Inc. $PM

Night Squared LP acquired a new stake in shares of Philip Morris International Inc. (NYSE:PM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 27,811 shares of the company’s stock, valued at approximately $5,065,000. Philip Morris International makes up about 2.3% of Night Squared LP’s portfolio, making the stock its 19th biggest position.

Other large investors also recently added to or reduced their stakes in the company. WCM Investment Management LLC boosted its holdings in Philip Morris International by 24,968.0% in the second quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock worth $2,041,223,000 after purchasing an additional 11,230,626 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Philip Morris International by 26.4% in the first quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock worth $3,466,730,000 after buying an additional 4,563,632 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Philip Morris International by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 142,857,055 shares of the company’s stock worth $26,018,555,000 after acquiring an additional 2,235,380 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Philip Morris International by 111.1% during the 1st quarter. AQR Capital Management LLC now owns 3,002,216 shares of the company’s stock valued at $473,660,000 after acquiring an additional 1,580,368 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its stake in shares of Philip Morris International by 475.5% in the 1st quarter. 1832 Asset Management L.P. now owns 1,325,951 shares of the company’s stock valued at $210,468,000 after acquiring an additional 1,095,557 shares in the last quarter. 78.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PM has been the subject of a number of recent analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. UBS Group dropped their target price on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a report on Friday, September 5th. 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. Finally, Stifel Nicolaus set a $180.00 price target on Philip Morris International in a research report on Tuesday, October 21st. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $189.00.

Philip Morris International Price Performance

Shares of Philip Morris International stock opened at $150.26 on Wednesday. Philip Morris International Inc. has a fifty-two week low of $116.12 and a fifty-two week high of $186.69. The firm has a fifty day moving average price of $153.97 and a two-hundred day moving average price of $165.74. The company has a market cap of $233.91 billion, a PE ratio of 27.22, a price-to-earnings-growth ratio of 1.77 and a beta of 0.42.

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

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Friday, October 3rd were given a $1.47 dividend. The ex-dividend date was Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.9%. 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%.

Philip Morris International Company Profile

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.