ProShare Advisors LLC raised its position in Philip Morris International Inc. (NYSE:PM – Free Report) by 1.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 238,469 shares of the company’s stock after purchasing an additional 2,448 shares during the period. ProShare Advisors LLC’s holdings in Philip Morris International were worth $45,505,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PM. BlackRock Inc. grew its holdings in shares of Philip Morris International by 0.4% during the second quarter. BlackRock Inc. now owns 108,039,522 shares of the company’s stock worth $19,545,430,000 after buying an additional 444,449 shares in the last quarter. State Street Corp raised its position in shares of Philip Morris International by 1.0% in the second quarter. State Street Corp now owns 55,569,994 shares of the company’s stock valued at $10,134,454,000 after buying an additional 536,968 shares during the last quarter. GQG Partners LLC purchased a new position in shares of Philip Morris International in the second quarter worth about $8,220,008,000. Wellington Management Group LLP lifted its stake in shares of Philip Morris International by 3.9% in the second quarter. Wellington Management Group LLP now owns 17,506,171 shares of the company’s stock worth $3,167,041,000 after buying an additional 650,587 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in Philip Morris International by 12.0% during the first quarter. Bank of America Corp DE now owns 17,230,669 shares of the company’s stock worth $2,848,919,000 after acquiring an additional 1,847,421 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.
Philip Morris International Price Performance
NYSE:PM opened at $208.72 on Monday. The firm has a market capitalization of $325.32 billion, a price-to-earnings ratio of 30.47, a PEG ratio of 2.80 and a beta of 0.34. The company’s 50-day moving average is $194.20 and its two-hundred day moving average is $181.93. Philip Morris International Inc. has a 1-year low of $142.11 and a 1-year high of $214.35.
Philip Morris International (NYSE:PM – Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.06. The business had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $11.32 billion. Philip Morris International had a net margin of 10.73% and a negative return on equity of 183.96%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.24 EPS. As a group, equities analysts anticipate that Philip Morris International Inc. will post 8.32 earnings per share for the current fiscal year.
Philip Morris International Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Investors of record on Friday, October 2nd were given a $1.60 dividend. The ex-dividend date 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 3.1%. Philip Morris International’s dividend payout ratio (DPR) is currently 93.43%.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on PM. Stifel Nicolaus upped their price objective on shares of Philip Morris International from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Morgan Stanley upped their price target on Philip Morris International from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. BTIG Research set a $221.00 price target on Philip Morris International and gave the company a “buy” rating in a report on Friday, July 24th. UBS Group lifted their price objective on Philip Morris International from $193.00 to $201.00 and gave the stock a “neutral” rating in a research report on Thursday, October 22nd. Finally, Barclays upped their target price on Philip Morris International from $205.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Philip Morris International currently has an average rating of “Moderate Buy” and an average price target of $209.70.
Check Out Our Latest Report on Philip Morris International
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.
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