Bessemer Group Inc. Acquires 3,052 Shares of 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 second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,376,345 shares of the company’s stock after acquiring an additional 3,052 shares during the quarter. Bessemer Group Inc.’s holdings in Philip Morris International were worth $250,675,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Abound Wealth Management lifted its position in Philip Morris International by 566.7% in the 2nd quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after buying an additional 136 shares during the last quarter. Briaud Financial Planning Inc lifted its position in Philip Morris International by 266.7% in the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after buying an additional 120 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new stake in Philip Morris International in the 1st quarter worth approximately $30,000. CBIZ Investment Advisory Services LLC lifted its position in Philip Morris International by 405.0% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock worth $32,000 after buying an additional 162 shares during the last quarter. Finally, Solstein Capital LLC bought a new stake in Philip Morris International in the 2nd quarter worth approximately $37,000. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

Shares of Philip Morris International stock opened at $157.69 on Monday. The business’s 50 day simple moving average is $162.32 and its two-hundred day simple moving average is $169.10. The stock has a market capitalization of $245.45 billion, a P/E ratio of 28.57, a price-to-earnings-growth ratio of 2.28 and a beta of 0.46. Philip Morris International Inc. has a one year low of $116.12 and a one year high of $186.69.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 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%. Sell-side analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

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

Analysts Set New Price Targets

A number of research firms recently weighed in on PM. The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a research report on Wednesday. Citigroup restated a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Needham & Company LLC restated a “buy” rating and issued a $195.00 target price on shares of Philip Morris International in a research report on Wednesday, July 23rd. UBS Group dropped 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. Finally, Jefferies Financial Group started coverage on Philip Morris International in a research report on Wednesday, July 9th. They issued a “buy” rating and a $220.00 target price for the company. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Philip Morris International has an average rating of “Moderate Buy” and a consensus target price of $194.00.

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.