Rakuten Investment Management Inc. grew its holdings in Philip Morris International Inc. (NYSE:PM – Free Report) by 9.7% during the 3rd quarter, Holdings Channel reports. The firm owned 279,750 shares of the company’s stock after purchasing an additional 24,832 shares during the period. Rakuten Investment Management Inc.’s holdings in Philip Morris International were worth $54,244,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the business. BlackRock Inc. lifted its holdings in Philip Morris International by 0.4% in the second quarter. BlackRock Inc. now owns 108,039,522 shares of the company’s stock valued at $19,545,430,000 after buying an additional 444,449 shares during the period. State Street Corp boosted its stake in 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 acquiring an additional 536,968 shares during the last quarter. GQG Partners LLC acquired a new stake in Philip Morris International during the 2nd quarter worth $8,220,008,000. Wellington Management Group LLP grew its holdings in Philip Morris International by 3.9% during the 2nd quarter. Wellington Management Group LLP now owns 17,506,171 shares of the company’s stock worth $3,167,041,000 after acquiring an additional 650,587 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Philip Morris International by 12.0% during the 1st quarter. Bank of America Corp DE now owns 17,230,669 shares of the company’s stock valued at $2,848,919,000 after acquiring an additional 1,847,421 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.
Philip Morris International Stock Performance
Shares of NYSE:PM opened at $207.48 on Wednesday. Philip Morris International Inc. has a 52 week low of $144.22 and a 52 week high of $214.35. The company has a market capitalization of $323.40 billion, a PE ratio of 30.29, a PEG ratio of 2.79 and a beta of 0.34. The company has a 50 day moving average price of $194.93 and a two-hundred day moving average price of $182.33.
Philip Morris International (NYSE:PM – Get Free Report) last posted its earnings results on Wednesday, October 21st. The company reported $2.36 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.06. The company had revenue of $11.44 billion for the quarter, compared to analyst estimates 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 for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the business posted $2.24 earnings per share. On average, sell-side analysts forecast that Philip Morris International Inc. will post 8.32 earnings per share for the current year.
Philip Morris International Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, October 26th. Shareholders of record on Friday, October 2nd were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.1%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.47. The ex-dividend date was Friday, October 2nd. Philip Morris International’s dividend payout ratio is currently 93.43%.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the company. UBS Group increased their price target on Philip Morris International from $193.00 to $201.00 and gave the company a “neutral” rating in a research note on Thursday, October 22nd. BTIG Research set a $221.00 price objective on Philip Morris International and gave the stock a “buy” rating in a research note on Friday, July 24th. Citigroup lifted their price objective on Philip Morris International from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Needham & Company LLC upped their price objective on Philip Morris International from $215.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. Finally, Barclays increased their target price on Philip Morris International from $205.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and an average target price of $212.40.
View Our Latest Analysis on Philip Morris International
Philip Morris International Company 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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