Strs Ohio grew its stake in shares of Philip Morris International Inc. (NYSE:PM) by 5.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 942,410 shares of the company’s stock after acquiring an additional 47,204 shares during the period. Strs Ohio’s holdings in Philip Morris International were worth $71,557,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of PM. Nuveen Asset Management LLC lifted its position in 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 worth $887,059,000 after acquiring an additional 11,247,401 shares during the last quarter. Invesco Ltd. raised its position in shares of Philip Morris International by 41.5% in the second quarter. Invesco Ltd. now owns 30,080,523 shares of the company’s stock valued at $2,362,224,000 after buying an additional 8,824,567 shares in the last quarter. Morgan Stanley raised its position in shares of Philip Morris International by 16.9% in the second quarter. Morgan Stanley now owns 34,485,714 shares of the company’s stock valued at $2,708,164,000 after buying an additional 4,998,070 shares in the last quarter. BlackRock Inc. raised its position in shares of Philip Morris International by 5.1% in the second quarter. BlackRock Inc. now owns 100,831,956 shares of the company’s stock valued at $7,918,335,000 after buying an additional 4,879,296 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Philip Morris International by 56.3% in the second quarter. AQR Capital Management LLC now owns 4,619,770 shares of the company’s stock valued at $360,204,000 after buying an additional 1,663,264 shares in the last quarter. Hedge funds and other institutional investors own 74.16% of the company’s stock.
A number of research firms have recently weighed in on PM. JPMorgan Chase & Co. set a $86.00 price target on shares of Philip Morris International and gave the company a “neutral” rating in a research report on Wednesday, August 28th. Barclays upgraded shares of Philip Morris International from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $82.00 to $100.00 in a research report on Friday, July 19th. Credit Suisse Group set a $80.00 price target on shares of Philip Morris International and gave the company a “sell” rating in a research report on Wednesday, August 28th. Stifel Nicolaus reiterated a “buy” rating on shares of Philip Morris International in a research report on Tuesday, October 15th. Finally, Cowen reiterated a “hold” rating on shares of Philip Morris International in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $92.50.
PM traded up $0.32 during trading on Monday, hitting $80.87. 565,273 shares of the stock traded hands, compared to its average volume of 7,012,764. Philip Morris International Inc. has a twelve month low of $64.67 and a twelve month high of $92.74. The company has a market cap of $124.23 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 1.98 and a beta of 1.00. The business has a 50 day moving average price of $74.84 and a 200 day moving average price of $80.73.
Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Thursday, October 17th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.35 by $0.08. Philip Morris International had a net margin of 9.59% and a negative return on equity of 82.33%. The business had revenue of $7.64 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same period in the previous year, the business earned $1.44 earnings per share. The company’s revenue was up 1.8% on a year-over-year basis. On average, analysts forecast that Philip Morris International Inc. will post 5.23 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Wednesday, September 25th were given a dividend of $1.17 per share. This is an increase from Philip Morris International’s previous quarterly dividend of $1.14. This represents a $4.68 annualized dividend and a yield of 5.79%. The ex-dividend date was Tuesday, September 24th. Philip Morris International’s payout ratio is currently 91.76%.
Philip Morris International Company Profile
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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