Montgomery Investment Management Inc. Buys New Shares in Philip Morris International Inc. (NYSE:PM)

Montgomery Investment Management Inc. acquired a new position in shares of Philip Morris International Inc. (NYSE:PM) in the 4th quarter, HoldingsChannel reports. The firm acquired 1,680 shares of the company’s stock, valued at approximately $202,000.

A number of other hedge funds and other institutional investors have also modified their holdings of PM. Czech National Bank increased its stake in Philip Morris International by 6.9% in the 3rd quarter. Czech National Bank now owns 316,729 shares of the company’s stock valued at $38,451,000 after buying an additional 20,494 shares during the last quarter. Smith Anglin Financial LLC boosted its holdings in Philip Morris International by 19.3% in the 3rd quarter. Smith Anglin Financial LLC now owns 2,432 shares of the company’s stock valued at $295,000 after purchasing an additional 394 shares during the period. Miracle Mile Advisors LLC lifted its holdings in shares of Philip Morris International by 17.6% during the 3rd quarter. Miracle Mile Advisors LLC now owns 2,428 shares of the company’s stock worth $295,000 after acquiring an additional 363 shares during the period. Bangor Savings Bank increased its position in Philip Morris International by 90.9% during the 3rd quarter. Bangor Savings Bank now owns 3,680 shares of the company’s stock worth $447,000 after purchasing an additional 1,752 shares in the last quarter. Finally, Exeter Financial LLC increased its position in Philip Morris International by 1.2% during the 3rd quarter. Exeter Financial LLC now owns 10,915 shares of the company’s stock worth $1,325,000 after purchasing an additional 127 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PM shares. Stifel Nicolaus restated a “buy” rating and issued a $145.00 price target (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Barclays lowered their target price on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. UBS Group boosted their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research report on Wednesday, October 23rd. Citigroup boosted their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $131.35.

Philip Morris International Price Performance

PM stock opened at $130.42 on Wednesday. The company has a market capitalization of $202.78 billion, a P/E ratio of 20.70, a PEG ratio of 2.30 and a beta of 0.55. The business has a 50-day moving average price of $125.22 and a 200 day moving average price of $123.24. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $134.15.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, December 26th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.14%. Philip Morris International’s payout ratio is 85.71%.

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.