10,791,874 Shares in Philip Morris International Inc. (NYSE:PM) Bought by Nuveen LLC

Nuveen LLC acquired a new position in shares of Philip Morris International Inc. (NYSE:PM) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 10,791,874 shares of the company’s stock, valued at approximately $1,712,994,000. Nuveen LLC owned about 0.69% of Philip Morris International at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Pacifica Partners Inc. increased its position in Philip Morris International by 115.0% during the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company’s stock valued at $35,000 after buying an additional 115 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new position in Philip Morris International during the 1st quarter valued at about $35,000. Ball & Co Wealth Management Inc. acquired a new position in Philip Morris International during the 4th quarter valued at about $36,000. Ameriflex Group Inc. acquired a new position in Philip Morris International during the 4th quarter valued at about $36,000. Finally, Inlight Wealth Management LLC acquired a new position in Philip Morris International during the 1st quarter valued at about $38,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PM. Wall Street Zen lowered Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday. Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 target price on shares of Philip Morris International in a research report on Wednesday, July 23rd. Citigroup reissued an “overweight” rating on shares of Philip Morris International in a report on Tuesday, July 22nd. UBS Group increased their price objective on Philip Morris International from $170.00 to $181.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Finally, Barclays cut their price objective on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $186.27.

Philip Morris International Stock Up 1.2%

Philip Morris International stock opened at $170.23 on Friday. The firm has a market cap of $264.98 billion, a price-to-earnings ratio of 32.36, a price-to-earnings-growth ratio of 2.48 and a beta of 0.48. Philip Morris International Inc. has a 52 week low of $115.62 and a 52 week high of $186.69. The business’s 50-day moving average price is $176.29 and its 200 day moving average price is $163.44.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.86 by $0.05. The firm had revenue of $10.14 billion for the quarter, compared to analyst estimates of $10.33 billion. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. Philip Morris International’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the company earned $1.59 earnings per share. Equities analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International’s dividend payout ratio (DPR) is 102.66%.

Philip Morris International Company Profile

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.