Prudential PLC grew its stake in shares of Philip Morris International Inc. (NYSE:PM) by 10.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 400,722 shares of the company’s stock after purchasing an additional 38,850 shares during the period. Prudential PLC’s holdings in Philip Morris International were worth $31,473,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in PM. Nuveen Asset Management LLC lifted its holdings in shares of Philip Morris International by 23,232.2% during the second quarter. Nuveen Asset Management LLC now owns 11,295,814 shares of the company’s stock valued at $887,059,000 after purchasing an additional 11,247,401 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Philip Morris International by 41.5% during the second quarter. Invesco Ltd. now owns 30,080,523 shares of the company’s stock valued at $2,362,224,000 after purchasing an additional 8,824,567 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Philip Morris International by 16.9% during the second quarter. Morgan Stanley now owns 34,485,714 shares of the company’s stock valued at $2,708,164,000 after purchasing an additional 4,998,070 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Philip Morris International by 5.1% during the second quarter. BlackRock Inc. now owns 100,831,956 shares of the company’s stock valued at $7,918,335,000 after purchasing an additional 4,879,296 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Philip Morris International by 56.3% during the second quarter. AQR Capital Management LLC now owns 4,619,770 shares of the company’s stock valued at $360,204,000 after purchasing an additional 1,663,264 shares during the last quarter. 74.11% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently weighed in on the company. Citigroup reissued a “buy” rating on shares of Philip Morris International in a research report on Wednesday, September 4th. Barclays raised Philip Morris International from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $82.00 to $100.00 in a research report on Friday, July 19th. JPMorgan Chase & Co. set a $86.00 price target on Philip Morris International and gave the company a “neutral” rating in a research report on Wednesday, August 28th. Credit Suisse Group set a $80.00 price target on Philip Morris International and gave the company a “sell” rating in a research report on Wednesday, August 28th. Finally, Cowen reissued a “hold” rating on shares of Philip Morris International in a research report on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $93.77.
In other Philip Morris International news, insider Mario Masseroli sold 1,100 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $87.42, for a total value of $96,162.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.21% of the company’s stock.
PM stock traded up $0.73 during mid-day trading on Monday, hitting $75.86. The stock had a trading volume of 94,615 shares, compared to its average volume of 8,118,771. Philip Morris International Inc. has a 1-year low of $64.67 and a 1-year high of $92.74. The company has a fifty day moving average of $76.68 and a 200 day moving average of $81.99. The stock has a market capitalization of $117.14 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 1.84 and a beta of 0.99.
Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, July 18th. The company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.13. Philip Morris International had a negative return on equity of 80.96% and a net margin of 10.03%. The company had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.42 billion. During the same period in the prior year, the firm posted $1.41 EPS. The business’s revenue was down .3% compared to the same quarter last year. As a group, equities analysts anticipate that Philip Morris International Inc. will post 5.2 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Wednesday, September 25th will be given a $1.17 dividend. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.14. This represents a $4.68 annualized dividend and a yield of 6.17%. The ex-dividend date is Tuesday, September 24th. Philip Morris International’s dividend payout ratio is presently 91.76%.
About Philip Morris International
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.
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