Intech Investment Management LLC Purchases 33,840 Shares of Philip Morris International Inc. $PM

Intech Investment Management LLC raised its position in shares of Philip Morris International Inc. (NYSE:PM) by 74.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 79,215 shares of the company’s stock after purchasing an additional 33,840 shares during the quarter. Intech Investment Management LLC’s holdings in Philip Morris International were worth $14,427,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Philip Morris International by 0.9% during the first quarter. Vanguard Group Inc. now owns 140,621,675 shares of the company’s stock valued at $22,320,878,000 after acquiring an additional 1,189,283 shares in the last quarter. Geode Capital Management LLC lifted its position in Philip Morris International by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 37,181,107 shares of the company’s stock valued at $6,760,346,000 after acquiring an additional 672,983 shares in the last quarter. Wellington Management Group LLP boosted its stake in Philip Morris International by 26.4% during the 1st quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock valued at $3,466,730,000 after purchasing an additional 4,563,632 shares during the last quarter. WCM Investment Management LLC increased its holdings in shares of Philip Morris International by 24,968.0% in the 2nd quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock worth $2,041,223,000 after purchasing an additional 11,230,626 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Philip Morris International in the first quarter worth $1,712,994,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 price objective on shares of Philip Morris International in a research report on Wednesday, July 23rd. Stifel Nicolaus set a $180.00 price target on shares of Philip Morris International in a report on Tuesday, October 21st. Barclays reduced their price target on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Wall Street Zen downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Philip Morris International currently has an average rating of “Moderate Buy” and a consensus price target of $194.00.

Philip Morris International Stock Up 0.1%

Shares of NYSE:PM opened at $155.35 on Friday. The firm has a 50 day moving average of $157.45 and a 200 day moving average of $167.88. The company has a market capitalization of $241.83 billion, a price-to-earnings ratio of 28.14, a price-to-earnings-growth ratio of 2.25 and a beta of 0.43. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. The business had revenue of $8.12 billion for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%. On average, sell-side analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Friday, October 3rd were issued a $1.47 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Friday, October 3rd. Philip Morris International’s dividend payout ratio is presently 106.52%.

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.