Spire Wealth Management cut its stake in Philip Morris International Inc. (NYSE:PM – Free Report) by 1.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,542 shares of the company’s stock after selling 246 shares during the quarter. Spire Wealth Management’s holdings in Philip Morris International were worth $2,005,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Morgan Stanley lifted its position 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 acquiring an additional 411,358 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Philip Morris International by 3.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,959,139 shares of the company’s stock worth $3,399,777,000 after purchasing an additional 1,106,408 shares during the last quarter. Wellington Management Group LLP raised its stake 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 purchasing an additional 1,099,430 shares in the last quarter. FMR LLC lifted 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 purchasing an additional 1,315,656 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Philip Morris International by 1.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 16,050,540 shares of the company’s stock worth $1,332,355,000 after buying an additional 260,832 shares in the last quarter. Institutional investors own 79.70% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently issued reports on PM. Jefferies Financial Group dropped their price objective on Philip Morris International from $111.00 to $105.00 and set a “buy” rating for the company in a report on Friday, October 13th. Stifel Nicolaus reiterated a “buy” rating and issued a $114.00 target price on shares of Philip Morris International in a report on Monday, October 2nd. UBS Group lowered their price objective on shares of Philip Morris International from $116.00 to $112.00 and set a “buy” rating for the company in a research note on Thursday, October 5th. Barclays reduced their price target on shares of Philip Morris International from $115.00 to $110.00 and set an “overweight” rating for the company in a report on Thursday, September 21st. Finally, Morgan Stanley cut their price objective on shares of Philip Morris International from $118.00 to $113.00 and set an “overweight” rating on the stock in a report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.73.
Philip Morris International Stock Performance
Shares of NYSE PM opened at $90.40 on Wednesday. The firm has a market cap of $140.34 billion, a PE ratio of 17.55, a PEG ratio of 2.13 and a beta of 0.77. Philip Morris International Inc. has a one year low of $87.23 and a one year high of $105.62. The firm has a fifty day moving average of $92.31 and a 200 day moving average of $94.38.
Philip Morris International (NYSE:PM – Get Free Report) last issued its quarterly earnings results on Thursday, October 19th. The company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.05. Philip Morris International had a negative return on equity of 129.48% and a net margin of 9.62%. The firm had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.21 billion. During the same period in the previous year, the company posted $1.53 earnings per share. The business’s revenue was up 13.8% on a year-over-year basis. On average, equities analysts predict that Philip Morris International Inc. will post 6.18 EPS for the current fiscal year.
Philip Morris International Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Stockholders of record on Wednesday, September 27th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, September 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.75%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.27. Philip Morris International’s dividend payout ratio (DPR) is currently 100.97%.
About Philip Morris International
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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