Intech Investment Management LLC decreased its position in Philip Morris International Inc. (NYSE:PM – Free Report) by 72.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,036 shares of the company’s stock after selling 15,728 shares during the quarter. Intech Investment Management LLC’s holdings in Philip Morris International were worth $612,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in PM. Vanguard Group Inc. increased its stake in Philip Morris International by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 136,556,344 shares of the company’s stock worth $12,511,292,000 after buying an additional 481,636 shares during the period. Capital World Investors increased its position in shares of Philip Morris International by 1.5% during the first quarter. Capital World Investors now owns 111,247,656 shares of the company’s stock worth $10,192,510,000 after acquiring an additional 1,684,992 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Philip Morris International by 3.1% in the first 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. Bank of New York Mellon Corp boosted its holdings 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 valued at $1,341,050,000 after purchasing an additional 1,856,551 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Philip Morris International by 0.6% during the 4th quarter. Northern Trust Corp now owns 13,126,737 shares of the company’s stock worth $1,234,963,000 after purchasing an additional 77,820 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.
Philip Morris International Price Performance
NYSE:PM opened at $120.84 on Friday. The firm has a market capitalization of $187.88 billion, a P/E ratio of 23.62, a P/E/G ratio of 2.37 and a beta of 0.55. The business has a 50 day simple moving average of $119.06 and a 200 day simple moving average of $105.29. Philip Morris International Inc. has a 12-month low of $87.23 and a 12-month high of $128.22.
Philip Morris International Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend is Thursday, September 26th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is 101.56%.
Analysts Set New Price Targets
Several equities analysts have recently commented on the company. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. The Goldman Sachs Group boosted their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays increased their price target on shares of Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, UBS Group increased their target price on Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $119.14.
Get Our Latest Research Report on Philip Morris International
Insider Transactions at Philip Morris International
In related news, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the sale, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total value of $2,260,200.00. Following the completion of the sale, the insider now directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the transaction, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. The disclosure for this sale can be found here. Insiders own 0.13% 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.
See Also
- Five stocks we like better than Philip Morris International
- How to Use the MarketBeat Excel Dividend Calculator
- Rocket Lab Stock Soars: Should Investors Chase the Rally?
- REIT Stocks – Best REIT Stocks to Add to Your Portfolio Today
- KB Home Slips After Earnings: What’s Next for Homebuilders?
- How to Calculate Return on Investment (ROI)
- Micron Stock Soars as AI Demand Fuels Big Q4 Earnings Beat
Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.