PNC Financial Services Group Inc. reduced its stake in Philip Morris International Inc. (NYSE:PM – Free Report) by 2.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,901,026 shares of the company’s stock after selling 63,480 shares during the period. PNC Financial Services Group Inc. owned about 0.19% of Philip Morris International worth $283,198,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the stock. Morgan Stanley increased its stake in shares of Philip Morris International by 1.0% during the fourth quarter. Morgan Stanley now owns 43,512,330 shares of the company’s stock valued at $4,403,883,000 after buying an additional 411,358 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings 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 acquiring an additional 1,106,408 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Philip Morris International by 5.4% in the first 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 in the last quarter. FMR LLC boosted its holdings in Philip Morris International by 8.8% in the first 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 in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Philip Morris International by 1.7% during 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 purchasing an additional 260,832 shares in the last quarter. 79.70% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts have recently issued reports on PM shares. Morgan Stanley lowered their price target on Philip Morris International from $118.00 to $113.00 and set an “overweight” rating on the stock in a report on Monday, October 2nd. Barclays reduced their price objective on Philip Morris International from $115.00 to $110.00 and set an “overweight” rating for the company in a research report on Thursday, September 21st. Jefferies Financial Group reduced their price objective on 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. UBS Group reduced their price objective on Philip Morris International from $116.00 to $112.00 and set a “buy” rating for the company in a research report on Thursday, October 5th. Finally, Redburn Atlantic started coverage on Philip Morris International in a research report on Thursday, November 16th. They set a “neutral” rating and a $95.00 price objective for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.36.
Philip Morris International Price Performance
Shares of NYSE:PM traded up $0.06 during trading on Tuesday, hitting $92.44. The company had a trading volume of 224,143 shares, compared to its average volume of 4,257,360. The stock has a market cap of $143.50 billion, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 2.16 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 company has a fifty day simple moving average of $92.16 and a two-hundred day simple moving average of $94.25.
Philip Morris International (NYSE:PM – Get Free Report) last posted its quarterly earnings data on Thursday, October 19th. The company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.21 billion. During the same period last year, the company earned $1.53 EPS. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, equities research analysts anticipate that Philip Morris International Inc. will post 6.16 earnings per share for the current year.
Philip Morris International Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Wednesday, September 27th were issued a dividend of $1.30 per share. This is an increase from Philip Morris International’s previous quarterly dividend of $1.27. This represents a $5.20 annualized dividend and a yield of 5.63%. The ex-dividend date was Tuesday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is presently 100.97%.
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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