Philip Morris International Inc. $PM Stock Acquired by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. raised its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 14.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 67,233 shares of the company’s stock after acquiring an additional 8,547 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Philip Morris International were worth $12,829,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Platt Wealth Management LLC boosted its position in shares of Philip Morris International by 2.1% during the second quarter. Platt Wealth Management LLC now owns 2,833 shares of the company’s stock valued at $512,000 after buying an additional 58 shares during the last quarter. Clearwater Capital Advisors LLC increased its holdings in Philip Morris International by 2.4% in the 1st quarter. Clearwater Capital Advisors LLC now owns 2,798 shares of the company’s stock worth $463,000 after buying an additional 65 shares in the last quarter. Gamco Investors INC. ET AL raised its position in Philip Morris International by 0.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 9,887 shares of the company’s stock worth $1,635,000 after buying an additional 66 shares during the last quarter. Essential Partners LLC raised its position in Philip Morris International by 3.9% in the 1st quarter. Essential Partners LLC now owns 1,742 shares of the company’s stock worth $288,000 after buying an additional 66 shares during the last quarter. Finally, JFS Wealth Advisors LLC raised its position in Philip Morris International by 1.5% in the 2nd quarter. JFS Wealth Advisors LLC now owns 4,455 shares of the company’s stock worth $806,000 after buying an additional 66 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

PM has been the topic of several research analyst reports. Argus upped their target price on shares of Philip Morris International from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Monday. Stifel Nicolaus lifted their price target on shares of Philip Morris International from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Needham & Company LLC boosted their price objective on shares of Philip Morris International from $215.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. Barclays boosted their price objective on shares of Philip Morris International from $205.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Finally, UBS Group increased their price objective on shares of Philip Morris International from $193.00 to $201.00 and gave the company a “neutral” rating in a research report on Thursday, October 22nd. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $209.70.

Philip Morris International Stock Performance

PM stock opened at $202.82 on Wednesday. Philip Morris International Inc. has a 1 year low of $142.11 and a 1 year high of $210.45. The stock’s fifty day moving average price is $193.19 and its 200-day moving average price is $181.26.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Wednesday, October 21st. The company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.30 by $0.06. The firm had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $11.32 billion. The business’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.24 EPS. On average, sell-side analysts expect 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. Shareholders of record on Friday, October 2nd were given a $1.60 dividend. The ex-dividend date of this dividend was Friday, October 2nd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.47. This represents a $6.40 annualized dividend and a yield of 3.2%.

Philip Morris International 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.