Philip Morris International Inc. (NYSE:PM) Shares Acquired by SP Asset Management

SP Asset Management increased its position in shares of Philip Morris International Inc. (NYSE:PMGet Rating) by 0.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,319 shares of the company’s stock after purchasing an additional 281 shares during the period. SP Asset Management’s holdings in Philip Morris International were worth $6,700,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PM. Flossbach Von Storch AG increased its holdings in shares of Philip Morris International by 72.4% in the fourth quarter. Flossbach Von Storch AG now owns 7,527,390 shares of the company’s stock valued at $715,102,000 after buying an additional 3,160,310 shares in the last quarter. BlackRock Inc. raised its stake in Philip Morris International by 2.4% during the 4th quarter. BlackRock Inc. now owns 94,109,468 shares of the company’s stock valued at $8,940,401,000 after purchasing an additional 2,179,980 shares during the period. State Street Corp raised its stake in Philip Morris International by 3.7% during the 4th quarter. State Street Corp now owns 56,505,116 shares of the company’s stock valued at $5,437,859,000 after purchasing an additional 1,992,512 shares during the period. Bank of Montreal Can raised its stake in Philip Morris International by 41.4% during the 4th quarter. Bank of Montreal Can now owns 4,137,029 shares of the company’s stock valued at $399,224,000 after purchasing an additional 1,212,015 shares during the period. Finally, Cibc World Markets Corp raised its stake in Philip Morris International by 14.9% during the 4th quarter. Cibc World Markets Corp now owns 8,285,493 shares of the company’s stock valued at $787,122,000 after purchasing an additional 1,076,634 shares during the period. Institutional investors own 74.78% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on PM shares. Jefferies Financial Group cut their target price on shares of Philip Morris International from $107.00 to $99.00 in a research note on Tuesday, July 19th. Morgan Stanley boosted their target price on shares of Philip Morris International from $104.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, April 22nd. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Tuesday, July 26th. Finally, Bank of America boosted their price target on shares of Philip Morris International from $107.00 to $117.00 in a report on Sunday, April 24th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $110.33.

Philip Morris International Stock Down 0.4 %

PM stock traded down $0.40 during mid-day trading on Friday, reaching $97.60. 2,346,534 shares of the stock traded hands, compared to its average volume of 4,827,143. Philip Morris International Inc. has a 52 week low of $85.64 and a 52 week high of $112.48. The business has a 50-day moving average of $98.48 and a two-hundred day moving average of $100.11. The firm has a market capitalization of $151.30 billion, a PE ratio of 16.77, a P/E/G ratio of 3.80 and a beta of 0.62.

Philip Morris International (NYSE:PMGet Rating) last released its quarterly earnings results on Thursday, July 21st. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.22. Philip Morris International had a net margin of 11.05% and a negative return on equity of 115.36%. The company had revenue of $7.83 billion during the quarter, compared to analysts’ expectations of $6.76 billion. During the same period in the prior year, the company earned $1.57 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. On average, equities research analysts anticipate that Philip Morris International Inc. will post 5.66 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Friday, July 1st were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date of this dividend was Thursday, June 30th. Philip Morris International’s dividend payout ratio is currently 85.91%.

About Philip Morris International

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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 that are sold in markets outside the United States.

See Also

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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