Geode Capital Management LLC Has $6.76 Billion Stock Holdings in Philip Morris International Inc. $PM

Geode Capital Management LLC grew its position in shares of Philip Morris International Inc. (NYSE:PM) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,181,107 shares of the company’s stock after acquiring an additional 672,983 shares during the quarter. Philip Morris International accounts for 0.5% of Geode Capital Management LLC’s holdings, making the stock its 26th biggest position. Geode Capital Management LLC owned approximately 2.39% of Philip Morris International worth $6,760,346,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in Philip Morris International by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 140,621,675 shares of the company’s stock worth $22,320,878,000 after buying an additional 1,189,283 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Philip Morris International by 26.4% in the first quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock valued at $3,466,730,000 after acquiring an additional 4,563,632 shares during the last quarter. WCM Investment Management LLC raised its holdings 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 acquiring an additional 11,230,626 shares in the last quarter. Nuveen LLC acquired a new position in Philip Morris International during the first quarter valued at approximately $1,712,994,000. Finally, Goldman Sachs Group Inc. boosted its position in Philip Morris International by 57.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company’s stock valued at $1,554,686,000 after purchasing an additional 3,575,158 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

NYSE PM opened at $156.93 on Wednesday. The company’s 50 day simple moving average is $157.85 and its two-hundred day simple moving average is $168.18. The stock has a market capitalization of $244.28 billion, a PE ratio of 28.43, a P/E/G ratio of 2.25 and a beta of 0.43. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share 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 for the quarter. On average, 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 disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were paid a $1.47 dividend. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend 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 currently 106.52%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PM. Needham & Company LLC reiterated a “buy” rating and set a $195.00 price objective on shares of Philip Morris International in a research note on Wednesday, July 23rd. Morgan Stanley set a $175.00 price target on shares of Philip Morris International and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Barclays decreased their price objective on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Finally, Stifel Nicolaus set a $180.00 target price on shares of Philip Morris International in a research note on Tuesday, October 21st. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $194.00.

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.