Simplicity Wealth LLC grew its stake in shares of Philip Morris International Inc. (NYSE:PM – Free Report) by 41.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,065 shares of the company’s stock after buying an additional 5,261 shares during the quarter. Simplicity Wealth LLC’s holdings in Philip Morris International were worth $3,268,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Capital International Investors raised its holdings in 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 in the last quarter. Capital Research Global Investors boosted its stake in Philip Morris International by 25.3% during the 4th 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 in the last quarter. Capital World Investors boosted its stake in Philip Morris International by 2.8% during the 4th quarter. Capital World Investors now owns 132,355,726 shares of the company’s stock valued at $21,230,315,000 after purchasing an additional 3,579,399 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Philip Morris International by 30.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 11,669,878 shares of the company’s stock valued at $2,111,198,000 after purchasing an additional 2,755,662 shares during the period. Finally, Bank of America Corp DE increased 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 purchasing an additional 1,847,421 shares during the period. 78.63% of the stock is currently owned by institutional investors.
Philip Morris International Stock Performance
Shares of NYSE:PM opened at $187.77 on Wednesday. Philip Morris International Inc. has a one year low of $142.11 and a one year high of $207.76. The stock has a fifty day moving average of $185.60 and a 200-day moving average of $178.12. The company has a market capitalization of $292.66 billion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 2.30 and a beta of 0.38.
Philip Morris International Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Thursday, June 25th were given a $1.47 dividend. The ex-dividend date was Thursday, June 25th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.1%. Philip Morris International’s dividend payout ratio (DPR) is 84.48%.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, May 20th. BTIG Research set a $221.00 target price on Philip Morris International and gave the stock a “buy” rating in a report on Friday, July 24th. Morgan Stanley boosted their price target on shares of Philip Morris International from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Needham & Company LLC upped their price target on shares of Philip Morris International from $200.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Finally, Barclays raised their price objective on shares of Philip Morris International from $205.00 to $225.00 and gave the company an “overweight” rating in a research report 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.89.
Philip Morris International Profile
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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