Federated Hermes Inc. Raises Stake in Philip Morris International Inc. $PM

Federated Hermes Inc. boosted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 12.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,836,828 shares of the company’s stock after purchasing an additional 307,307 shares during the quarter. Philip Morris International comprises 0.8% of Federated Hermes Inc.’s portfolio, making the stock its 22nd biggest holding. Federated Hermes Inc.’s holdings in Philip Morris International were worth $460,133,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Philip Morris International by 1.6% in the second quarter. Vanguard Group Inc. now owns 142,857,055 shares of the company’s stock valued at $26,018,555,000 after purchasing an additional 2,235,380 shares in the last quarter. State Street Corp boosted its holdings in shares of Philip Morris International by 1.6% during the second quarter. State Street Corp now owns 55,831,655 shares of the company’s stock worth $10,243,429,000 after purchasing an additional 871,165 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 buying an additional 672,983 shares during the period. WCM Investment Management LLC increased its position in Philip Morris International by 24,968.0% during the second 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 during the last quarter. Finally, Fayez Sarofim & Co increased its holdings in shares of Philip Morris International by 7.9% during the 2nd quarter. Fayez Sarofim & Co now owns 10,676,908 shares of the company’s stock worth $1,944,585,000 after buying an additional 782,536 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Performance

PM stock opened at $179.23 on Wednesday. Philip Morris International Inc. has a 52 week low of $128.25 and a 52 week high of $186.69. The stock has a market cap of $278.99 billion, a P/E ratio of 32.47, a P/E/G ratio of 1.89 and a beta of 0.40. The firm has a 50 day simple moving average of $160.14 and a 200 day simple moving average of $161.33.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Friday, December 26th were paid a $1.47 dividend. The ex-dividend date was Friday, December 26th. This represents a $5.88 annualized dividend and a dividend yield of 3.3%. Philip Morris International’s dividend payout ratio (DPR) is presently 106.52%.

Analyst Ratings Changes

A number of brokerages have recently commented on PM. JPMorgan Chase & Co. cut their target price on shares of Philip Morris International from $190.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. Wall Street Zen downgraded Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Morgan Stanley set a $175.00 target price on shares of Philip Morris International and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Barclays lowered their price target on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a report on Monday, November 17th. Finally, Stifel Nicolaus set a $180.00 price objective on shares of Philip Morris International in a research note on Tuesday, October 21st. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $184.56.

Philip Morris International Company Profile

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.