Nissay Asset Management Corp Japan grew its stake in Philip Morris International Inc. (NYSE:PM – Free Report) by 4.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 212,945 shares of the company’s stock after acquiring an additional 8,482 shares during the quarter. Nissay Asset Management Corp Japan’s holdings in Philip Morris International were worth $38,524,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Bank of New York Mellon Corp increased its stake in Philip Morris International by 30.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 11,669,878 shares of the company’s stock worth $2,111,198,000 after purchasing an additional 2,755,662 shares during the period. Global Retirement Partners LLC boosted its stake in shares of Philip Morris International by 40.3% during the fourth quarter. Global Retirement Partners LLC now owns 67,177 shares of the company’s stock valued at $10,775,000 after purchasing an additional 19,309 shares during the period. Perennial Investment Advisors LLC purchased a new stake in shares of Philip Morris International during the second quarter valued at approximately $505,000. New York Life Investment Management LLC grew its holdings in shares of Philip Morris International by 3.6% in the fourth quarter. New York Life Investment Management LLC now owns 216,613 shares of the company’s stock worth $34,745,000 after purchasing an additional 7,600 shares during the last quarter. Finally, Brighton Jones LLC grew its holdings in shares of Philip Morris International by 31.1% in the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock worth $1,027,000 after purchasing an additional 2,023 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.
Philip Morris International Stock Up 0.8%
Shares of Philip Morris International stock opened at $192.02 on Friday. The company has a market cap of $299.28 billion, a PE ratio of 27.59, a P/E/G ratio of 2.30 and a beta of 0.38. The business has a 50 day moving average of $187.21 and a 200 day moving average of $178.79. Philip Morris International Inc. has a 52 week low of $142.11 and a 52 week high of $207.76.
Philip Morris International Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Thursday, June 25th were given a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Thursday, June 25th. Philip Morris International’s dividend payout ratio (DPR) is currently 84.48%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on PM shares. Stifel Nicolaus upped their price target on shares of Philip Morris International from $195.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Barclays raised their price target on shares of Philip Morris International from $205.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Needham & Company LLC boosted their price objective on shares of Philip Morris International from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. UBS Group upped their price objective on shares of Philip Morris International from $168.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, July 2nd. Finally, Bank of America reiterated a “buy” rating on shares of Philip Morris International in a report on Thursday, May 21st. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.89.
Check Out Our Latest Research 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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