Swiss National Bank lifted its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 0.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,614,200 shares of the company's stock after acquiring an additional 17,700 shares during the quarter. Swiss National Bank owned approximately 0.30% of Philip Morris International worth $560,164,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of PM. GQG Partners LLC raised its position in Philip Morris International by 5,006.0% during the 1st quarter. GQG Partners LLC now owns 5,958,391 shares of the company's stock valued at $545,908,000 after purchasing an additional 5,841,696 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Philip Morris International by 79.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,878,158 shares of the company's stock valued at $595,634,000 after acquiring an additional 2,599,684 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Philip Morris International by 16.3% in the second quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company's stock worth $1,341,050,000 after acquiring an additional 1,856,551 shares during the period. Capital Research Global Investors grew its holdings in Philip Morris International by 3.1% during the 1st quarter. Capital Research Global Investors now owns 60,217,039 shares of the company's stock worth $5,517,085,000 after acquiring an additional 1,800,864 shares in the last quarter. Finally, Capital World Investors increased its position in Philip Morris International by 1.5% during the 1st quarter. Capital World Investors now owns 111,247,656 shares of the company's stock valued at $10,192,510,000 after purchasing an additional 1,684,992 shares during the period. Institutional investors own 78.63% of the company's stock.
Insiders Place Their Bets
In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the company's stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the sale, the insider now directly owns 95,418 shares of the company's stock, valued at approximately $12,402,431.64. This represents a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total value of $13,234,052.30. Following the sale, the chairman now directly owns 959,761 shares in the company, valued at $124,624,965.85. This represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.
Philip Morris International Trading Up 0.3 %
Shares of PM stock traded up $0.39 during trading hours on Friday, reaching $128.59. 9,066,012 shares of the company's stock were exchanged, compared to its average volume of 6,116,835. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $134.15. The stock has a market cap of $199.94 billion, a PE ratio of 20.41, a PEG ratio of 2.25 and a beta of 0.54. The stock's fifty day moving average price is $124.30 and its two-hundred day moving average price is $113.69.
Philip Morris International (NYSE:PM - Get Free Report) last released its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.09. The company had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. Philip Morris International's revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.67 EPS. On average, equities analysts expect that Philip Morris International Inc. will post 6.51 EPS for the current fiscal year.
Philip Morris International Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were paid a $1.35 dividend. This is a positive change from Philip Morris International's previous quarterly dividend of $1.30. The ex-dividend date was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.20%. Philip Morris International's dividend payout ratio (DPR) is 85.71%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on PM shares. StockNews.com upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. lifted their price target on Philip Morris International from $125.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Citigroup boosted their price target on Philip Morris International from $118.50 to $132.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised their price objective on Philip Morris International from $118.00 to $135.00 and gave the company a "buy" rating in a research report on Tuesday, October 1st. Finally, Barclays boosted their target price on shares of Philip Morris International from $145.00 to $155.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $131.50.
View Our Latest Analysis on PM
Philip Morris International Profile
(
Free Report)
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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