Trust Co. of Toledo NA OH lowered its position in Philip Morris International Inc. (NYSE:PM – Free Report) by 11.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,552 shares of the company’s stock after selling 328 shares during the period. Trust Co. of Toledo NA OH’s holdings in Philip Morris International were worth $249,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Morgan Stanley raised its holdings in shares of Philip Morris International by 1.0% in the fourth quarter. Morgan Stanley now owns 43,512,330 shares of the company’s stock valued at $4,403,883,000 after purchasing an additional 411,358 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Philip Morris International by 3.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,959,139 shares of the company’s stock valued at $3,399,777,000 after buying an additional 1,106,408 shares during the period. Geode Capital Management LLC grew its position in Philip Morris International by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 30,296,422 shares of the company’s stock valued at $3,061,665,000 after buying an additional 449,971 shares during the period. Wellington Management Group LLP grew its position in Philip Morris International by 5.4% during the first quarter. Wellington Management Group LLP now owns 21,448,722 shares of the company’s stock valued at $2,085,888,000 after buying an additional 1,099,430 shares during the period. Finally, FMR LLC grew its position in Philip Morris International by 8.8% during the first quarter. FMR LLC now owns 16,211,020 shares of the company’s stock valued at $1,576,522,000 after buying an additional 1,315,656 shares during the period. Hedge funds and other institutional investors own 79.70% of the company’s stock.
Philip Morris International Trading Down 0.5 %
PM stock opened at $95.79 on Friday. The firm has a 50 day moving average of $96.52 and a 200-day moving average of $96.08. Philip Morris International Inc. has a 12 month low of $82.85 and a 12 month high of $105.62. The firm has a market capitalization of $148.70 billion, a P/E ratio of 18.53, a price-to-earnings-growth ratio of 2.02 and a beta of 0.71.
Philip Morris International Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Wednesday, September 27th will be given a $1.30 dividend. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.27. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.43%. The ex-dividend date is Tuesday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is 98.26%.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on PM shares. StockNews.com started coverage on shares of Philip Morris International in a research report on Thursday, August 17th. They set a “hold” rating for the company. Citigroup upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and increased their price target for the company from $109.00 to $117.00 in a research report on Tuesday, June 20th. Jefferies Financial Group reduced their price target on shares of Philip Morris International from $113.00 to $111.00 and set a “buy” rating for the company in a research report on Tuesday, August 22nd. Finally, 22nd Century Group restated a “reiterates” rating on shares of Philip Morris International in a research report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, Philip Morris International currently has an average rating of “Moderate Buy” and a consensus price target of $110.70.
Philip Morris International Company Profile
Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.
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