NEOS Investment Management LLC raised its stake in shares of Philip Morris International Inc. (NYSE:PM – Free Report) by 11.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 254,266 shares of the company’s stock after acquiring an additional 25,828 shares during the period. NEOS Investment Management LLC’s holdings in Philip Morris International were worth $45,999,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the stock. GQG Partners LLC purchased a new position in shares of Philip Morris International in the 2nd quarter valued at approximately $8,220,008,000. Bank of America Corp DE purchased a new stake in shares of Philip Morris International during the second quarter worth approximately $3,075,267,000. Capital International Investors lifted 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 period. Capital Research Global Investors lifted its holdings in shares of Philip Morris International by 25.3% during the fourth quarter. Capital Research Global Investors now owns 54,559,706 shares of the company’s stock worth $8,751,407,000 after purchasing an additional 11,013,173 shares during the period. Finally, Legal & General Group Plc purchased a new position in Philip Morris International in the 2nd quarter valued at $1,316,151,000. 78.63% of the stock is owned by institutional investors and hedge funds.
Philip Morris International Stock Performance
NYSE:PM opened at $186.30 on Friday. Philip Morris International Inc. has a 1 year low of $142.11 and a 1 year high of $207.76. The stock has a fifty day moving average price of $187.99 and a two-hundred day moving average price of $178.79. The stock has a market capitalization of $290.37 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 2.43 and a beta of 0.37.
Philip Morris International Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Thursday, June 25th were issued a dividend of $1.47 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $5.88 dividend on an annualized basis and a yield of 3.2%. Philip Morris International’s payout ratio is currently 84.48%.
Analyst Upgrades and Downgrades
PM has been the subject of a number of analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research report on Monday, August 17th. Barclays lifted their target price on shares of Philip Morris International from $205.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. UBS Group boosted 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. Bank of America restated a “buy” rating on shares of Philip Morris International in a research report on Thursday, May 21st. Finally, Citigroup lifted their price objective on Philip Morris International from $210.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $205.89.
Get Our Latest Analysis on Philip Morris International
Philip Morris International Company 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.
Featured Stories
- Five stocks we like better than Philip Morris International
- The Path to $230 Billion: Broadcom Outlines the Next Phase of Its AI Growth Story
- NVIDIA’s Hugging Face Deal Raises a Bigger Question About Its AI Moat Now
- Dropping the Dough: Yum! Brands Strategically Trims the Fat
- These 3 Stock Charts Just Flashed the Dreaded Death Cross Pattern
Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM – Free Report).
Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.
