Ferguson Wellman Capital Management Inc. grew its holdings in shares of Philip Morris International Inc. (NYSE:PM – Free Report) by 2.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 606,992 shares of the company’s stock after purchasing an additional 11,915 shares during the period. Philip Morris International makes up about 1.4% of Ferguson Wellman Capital Management Inc.’s holdings, making the stock its 20th biggest position. Ferguson Wellman Capital Management Inc.’s holdings in Philip Morris International were worth $59,255,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Morgan Stanley increased its position in Philip Morris International by 1.0% during the 4th quarter. Morgan Stanley now owns 43,512,330 shares of the company’s stock worth $4,403,883,000 after purchasing an additional 411,358 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Philip Morris International by 3.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,959,139 shares of the company’s stock worth $3,399,777,000 after acquiring an additional 1,106,408 shares during the period. Geode Capital Management LLC grew its holdings in shares of Philip Morris International by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 30,296,422 shares of the company’s stock worth $3,061,665,000 after acquiring an additional 449,971 shares during the period. Wellington Management Group LLP grew its holdings in shares of Philip Morris International by 5.4% in the 1st quarter. Wellington Management Group LLP now owns 21,448,722 shares of the company’s stock worth $2,085,888,000 after acquiring an additional 1,099,430 shares during the period. Finally, FMR LLC grew its holdings in shares of Philip Morris International by 8.8% in the 1st quarter. FMR LLC now owns 16,211,020 shares of the company’s stock worth $1,576,522,000 after acquiring an additional 1,315,656 shares during the period. Institutional investors and hedge funds own 79.70% of the company’s stock.
Philip Morris International Trading Down 0.5 %
Shares of Philip Morris International stock traded down $0.52 during trading hours on Friday, reaching $95.79. 6,932,697 shares of the company’s stock were exchanged, compared to its average volume of 3,027,615. Philip Morris International Inc. has a 52-week low of $82.85 and a 52-week high of $105.62. The firm has a market capitalization of $148.70 billion, a price-to-earnings ratio of 18.53, a price-to-earnings-growth ratio of 2.02 and a beta of 0.71. The company has a fifty day moving average of $96.49 and a 200-day moving average of $96.06.
Philip Morris International Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Investors 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 annualized dividend and a dividend yield of 5.43%. The ex-dividend date of this dividend is Tuesday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is 98.26%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on PM shares. 22nd Century Group restated a “reiterates” rating on shares of Philip Morris International in a report on Tuesday, June 27th. StockNews.com started coverage on Philip Morris International in a report on Thursday, August 17th. They set a “hold” rating on the stock. Citigroup upgraded Philip Morris International from a “neutral” rating to a “buy” rating and increased their target price for the company from $109.00 to $117.00 in a report on Tuesday, June 20th. Finally, Jefferies Financial Group lowered their target price on Philip Morris International from $113.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, August 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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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