Philip Morris International Inc. $PM Holdings Raised by Independence Bank of Kentucky

Independence Bank of Kentucky grew its stake in shares of Philip Morris International Inc. (NYSE:PM) by 26.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 20,387 shares of the company’s stock after acquiring an additional 4,241 shares during the period. Independence Bank of Kentucky’s holdings in Philip Morris International were worth $3,307,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. PFS Partners LLC grew its stake in Philip Morris International by 24.8% in the second quarter. PFS Partners LLC now owns 292 shares of the company’s stock valued at $53,000 after purchasing an additional 58 shares in the last quarter. Uncommon Cents Investing LLC grew its position in Philip Morris International by 1.1% in the second quarter. Uncommon Cents Investing LLC now owns 5,666 shares of the company’s stock worth $1,032,000 after acquiring an additional 61 shares in the last quarter. Second Line Capital LLC grew its position in Philip Morris International by 4.8% in the second quarter. Second Line Capital LLC now owns 1,338 shares of the company’s stock worth $245,000 after acquiring an additional 61 shares in the last quarter. Cranbrook Wealth Management LLC increased its stake in shares of Philip Morris International by 6.5% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 1,014 shares of the company’s stock worth $185,000 after purchasing an additional 62 shares during the last quarter. Finally, Meridian Wealth Partners LLC raised its holdings in shares of Philip Morris International by 3.1% during the 2nd quarter. Meridian Wealth Partners LLC now owns 2,060 shares of the company’s stock valued at $375,000 after purchasing an additional 62 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on PM. UBS Group reduced their price objective on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research note on Friday, September 5th. JPMorgan Chase & Co. reduced their price target on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. The Goldman Sachs Group reiterated a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Wall Street Zen raised Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, November 17th. Finally, Stifel Nicolaus set a $180.00 target price on Philip Morris International in a report on Tuesday, October 21st. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Philip Morris International currently has an average rating of “Moderate Buy” and a consensus price target of $189.00.

Philip Morris International Stock Performance

NYSE PM opened at $157.07 on Friday. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69. The stock has a 50-day simple moving average of $153.79 and a 200 day simple moving average of $164.59. The stock has a market capitalization of $244.49 billion, a PE ratio of 28.45, a P/E/G ratio of 1.87 and a beta of 0.42.

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 net margin of 9.33% and a negative return on equity of 122.14%. The firm had revenue of $8.12 billion during the quarter. As a group, equities research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Friday, December 26th. This represents a $5.88 annualized dividend and a yield of 3.7%. Philip Morris International’s dividend payout ratio is 106.52%.

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.