Bessemer Group Inc. Grows Position in Philip Morris International Inc. $PM

Bessemer Group Inc. grew its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 0.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,376,345 shares of the company’s stock after purchasing an additional 3,052 shares during the quarter. Bessemer Group Inc. owned approximately 0.09% of Philip Morris International worth $250,675,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Abound Wealth Management increased its position in shares of Philip Morris International by 566.7% during the 2nd quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after purchasing an additional 136 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA purchased a new stake in shares of Philip Morris International during the 1st quarter valued at $30,000. Briaud Financial Planning Inc increased its position in shares of Philip Morris International by 266.7% during the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock valued at $30,000 after purchasing an additional 120 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its position in shares of Philip Morris International by 405.0% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock valued at $32,000 after purchasing an additional 162 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Philip Morris International during the 1st quarter valued at $34,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PM has been the subject of several research analyst reports. UBS Group decreased their target price on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research report on Friday, September 5th. JPMorgan Chase & Co. lifted their price objective on Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Barclays decreased their price objective on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Citigroup reissued a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. Finally, Needham & Company LLC restated a “buy” rating and issued a $195.00 target price on shares of Philip Morris International in a research note on Wednesday, July 23rd. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $194.00.

Philip Morris International Stock Down 0.0%

Shares of NYSE PM opened at $157.69 on Monday. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69. The business has a 50-day simple moving average of $162.32 and a two-hundred day simple moving average of $169.10. The company has a market cap of $245.45 billion, a P/E ratio of 28.57, a P/E/G ratio of 2.28 and a beta of 0.46.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The business had revenue of $8.12 billion during the quarter. Equities research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were given a dividend of $1.47 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date was Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.7%. Philip Morris International’s dividend payout ratio is 106.52%.

Philip Morris International 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.