Philip Morris International Inc. $PM Stock Holdings Boosted by Swiss National Bank

Swiss National Bank grew its position in shares of Philip Morris International Inc. (NYSE:PM) by 7.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,711,600 shares of the company’s stock after purchasing an additional 326,400 shares during the quarter. Philip Morris International accounts for 0.5% of Swiss National Bank’s portfolio, making the stock its 26th largest position. Swiss National Bank owned about 0.30% of Philip Morris International worth $858,124,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Linscomb Wealth Inc. increased its holdings in shares of Philip Morris International by 3.3% in the first quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company’s stock valued at $13,207,000 after buying an additional 2,669 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Philip Morris International by 7.3% in the 1st quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company’s stock worth $568,873,000 after acquiring an additional 242,799 shares during the last quarter. First American Trust FSB grew its holdings in shares of Philip Morris International by 80.0% in the 1st quarter. First American Trust FSB now owns 56,382 shares of the company’s stock worth $8,949,000 after acquiring an additional 25,063 shares during the last quarter. SpringVest Wealth Management LLC acquired a new stake in shares of Philip Morris International during the first quarter worth $253,000. Finally, SFE Investment Counsel purchased a new stake in shares of Philip Morris International during the first quarter valued at $327,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Performance

PM stock opened at $155.76 on Friday. The firm has a 50 day simple moving average of $156.64 and a 200 day simple moving average of $167.47. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69. The stock has a market cap of $242.47 billion, a P/E ratio of 28.22, a P/E/G ratio of 1.83 and a beta of 0.43.

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

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were given a dividend of $1.47 per share. The ex-dividend date of this dividend was Friday, October 3rd. This is a positive change 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%. Philip Morris International’s payout ratio is 106.52%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. UBS Group dropped their price target on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a research note on Friday, September 5th. Morgan Stanley set a $175.00 price target on shares of Philip Morris International and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. KGI Securities assumed coverage on shares of Philip Morris International in a research note on Monday, August 4th. They issued an “outperform” rating for the company. Stifel Nicolaus set a $180.00 target price on shares of Philip Morris International in a research note on Tuesday, October 21st. Finally, Barclays reduced their target price on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a report on Monday. 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, the stock has an average rating of “Moderate Buy” and an average target price of $189.56.

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.