Principal Financial Group Inc. Has $215.41 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Principal Financial Group Inc. grew its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 5.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,774,350 shares of the company's stock after acquiring an additional 85,043 shares during the period. Principal Financial Group Inc. owned 0.11% of Philip Morris International worth $215,406,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Strategic Financial Concepts LLC acquired a new stake in Philip Morris International in the 2nd quarter worth approximately $25,000. Sachetta LLC lifted its stake in shares of Philip Morris International by 64.8% in the second quarter. Sachetta LLC now owns 267 shares of the company's stock worth $27,000 after buying an additional 105 shares during the last quarter. Valley Wealth Managers Inc. boosted its holdings in shares of Philip Morris International by 457.5% during the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company's stock worth $27,000 after buying an additional 183 shares during the period. Dunhill Financial LLC boosted its holdings in shares of Philip Morris International by 203.8% during the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company's stock worth $29,000 after buying an additional 161 shares during the period. Finally, Concord Wealth Partners grew its stake in Philip Morris International by 2,709.1% in the 3rd quarter. Concord Wealth Partners now owns 309 shares of the company's stock valued at $38,000 after buying an additional 298 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PM. Citigroup boosted their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. Barclays boosted their price objective on Philip Morris International from $145.00 to $155.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. UBS Group raised their target price on Philip Morris International from $103.00 to $105.00 and gave the company a "sell" rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price target on Philip Morris International from $125.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Finally, Stifel Nicolaus reissued a "buy" rating and issued a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $131.50.

Philip Morris International Price Performance

Shares of NYSE PM traded up $2.05 during trading hours on Friday, reaching $124.22. The stock had a trading volume of 10,235,709 shares, compared to its average volume of 5,371,162. The company has a market cap of $193.14 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 2.22 and a beta of 0.53. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15. The business's fifty day moving average is $128.01 and its two-hundred day moving average is $118.62.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.09. The firm had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The business's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.67 EPS. Sell-side analysts forecast that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, December 26th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date of this dividend is Thursday, December 26th. Philip Morris International's dividend payout ratio is 85.71%.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the business's stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the transaction, the insider now directly owns 95,418 shares in the company, valued at $12,402,431.64. The trade was a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the firm's stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the sale, the chairman now directly owns 959,761 shares of the company's stock, valued at approximately $124,624,965.85. The trade was a 9.60 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.14% of the company's stock.

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.