Citizens Financial Group Inc. RI reduced its position in Philip Morris International Inc. (NYSE:PM – Free Report) by 11.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 31,519 shares of the company’s stock after selling 3,987 shares during the period. Citizens Financial Group Inc. RI’s holdings in Philip Morris International were worth $5,211,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Capital International Investors boosted its holdings in shares of Philip Morris International by 13.7% during the fourth quarter. Capital International Investors now owns 101,377,875 shares of the company’s stock worth $16,262,967,000 after purchasing an additional 12,227,004 shares during the last quarter. Capital Research Global Investors increased its stake in Philip Morris International by 25.3% in the fourth quarter. Capital Research Global Investors now owns 54,559,706 shares of the company’s stock valued at $8,751,407,000 after purchasing an additional 11,013,173 shares during the last quarter. Capital World Investors lifted its position in Philip Morris International by 2.8% during the fourth quarter. Capital World Investors now owns 132,355,726 shares of the company’s stock worth $21,230,315,000 after buying an additional 3,579,399 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Philip Morris International by 36.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 9,301,112 shares of the company’s stock worth $1,491,898,000 after buying an additional 2,475,204 shares during the period. Finally, SG Americas Securities LLC boosted its stake in Philip Morris International by 1,547.2% in the 4th quarter. SG Americas Securities LLC now owns 2,260,217 shares of the company’s stock worth $362,539,000 after buying an additional 2,123,002 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.
Philip Morris International Stock Performance
Shares of NYSE:PM opened at $181.77 on Monday. The stock has a 50-day simple moving average of $180.91 and a 200-day simple moving average of $173.70. The stock has a market capitalization of $283.30 billion, a P/E ratio of 25.57, a PEG ratio of 2.14 and a beta of 0.38. Philip Morris International Inc. has a 1 year low of $142.11 and a 1 year high of $193.05.
Philip Morris International Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Thursday, June 25th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Thursday, June 25th. Philip Morris International’s dividend payout ratio (DPR) is currently 82.70%.
Analyst Upgrades and Downgrades
Several analysts have commented on the company. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, May 20th. Bank of America reissued a “buy” rating on shares of Philip Morris International in a research report on Thursday, May 21st. Morgan Stanley boosted their target price on shares of Philip Morris International from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, June 3rd. Stifel Nicolaus dropped their price target on shares of Philip Morris International from $200.00 to $195.00 and set a “buy” rating for the company in a research report on Friday, April 10th. Finally, UBS Group increased their price target on shares of Philip Morris International from $168.00 to $182.00 and gave the stock a “neutral” rating in a research note on Thursday, July 2nd. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $194.62.
Read Our Latest Stock Report on PM
About Philip Morris International
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.
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