Philip Morris International Inc. (NYSE:PM) Shares Bought by Berger Financial Group Inc

Berger Financial Group Inc raised its stake in shares of Philip Morris International Inc. (NYSE:PM) by 3.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,902 shares of the company’s stock after acquiring an additional 113 shares during the quarter. Berger Financial Group Inc’s holdings in Philip Morris International were worth $381,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Morgan Stanley grew 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 period. Price T Rowe Associates Inc. MD grew its stake 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 valued at $3,399,777,000 after buying an additional 1,106,408 shares during the period. Wellington Management Group LLP increased its holdings in shares of Philip Morris International by 5.4% during the 1st quarter. Wellington Management Group LLP now owns 21,448,722 shares of the company’s stock worth $2,085,888,000 after buying an additional 1,099,430 shares during the last quarter. FMR LLC raised its position in shares of Philip Morris International by 8.8% during the 1st 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. Finally, Bank of New York Mellon Corp lifted its holdings in Philip Morris International by 1.7% in the third quarter. Bank of New York Mellon Corp now owns 16,050,540 shares of the company’s stock valued at $1,332,355,000 after acquiring an additional 260,832 shares during the last quarter. Hedge funds and other institutional investors own 79.70% of the company’s stock.

Philip Morris International Price Performance

PM opened at $91.71 on Thursday. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $105.62. The stock has a market cap of $142.37 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.13 and a beta of 0.77. The stock’s 50 day moving average price is $92.28 and its 200 day moving average price is $94.37.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, October 19th. The company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.05. The firm had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.21 billion. Philip Morris International had a negative return on equity of 129.48% and a net margin of 9.62%. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the company posted $1.53 EPS. Equities analysts anticipate that Philip Morris International Inc. will post 6.18 EPS for the current year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Wednesday, September 27th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.67%. The ex-dividend date was Tuesday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.27. Philip Morris International’s dividend payout ratio is currently 100.97%.

Analyst Ratings Changes

A number of brokerages recently issued reports on PM. StockNews.com assumed coverage on Philip Morris International in a research report on Thursday, October 5th. They set a “hold” rating for the company. Redburn Atlantic initiated coverage on shares of Philip Morris International in a research note on Thursday. They issued a “neutral” rating and a $95.00 price target on the stock. Jefferies Financial Group lowered their price objective on shares of Philip Morris International from $111.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, October 13th. Bank of America dropped their target price on shares of Philip Morris International from $118.00 to $111.00 in a report on Friday, September 29th. Finally, Barclays cut their price objective on Philip Morris International from $115.00 to $110.00 and set an “overweight” rating on the stock in a research report on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Philip Morris International currently has an average rating of “Moderate Buy” and an average target price of $109.36.

Philip Morris International 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.