Vanguard Group Inc. Buys 2,235,380 Shares of Philip Morris International Inc. $PM

Vanguard Group Inc. raised its stake in Philip Morris International Inc. (NYSE:PM) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 142,857,055 shares of the company’s stock after acquiring an additional 2,235,380 shares during the period. Philip Morris International comprises about 0.4% of Vanguard Group Inc.’s investment portfolio, making the stock its 29th largest position. Vanguard Group Inc. owned 9.18% of Philip Morris International worth $26,018,555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new stake in shares of Philip Morris International in the 2nd quarter valued at $25,000. Abound Wealth Management lifted its holdings in Philip Morris International by 566.7% during the 2nd quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after purchasing an additional 136 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA acquired a new position in Philip Morris International in the first quarter valued at about $30,000. Briaud Financial Planning Inc boosted its position in Philip Morris International by 266.7% in the second quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock valued at $30,000 after buying an additional 120 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC grew its stake in Philip Morris International by 405.0% during the first 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. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Stock Performance

NYSE PM opened at $152.78 on Tuesday. The stock has a fifty day moving average of $157.26 and a 200-day moving average of $167.74. The stock has a market capitalization of $237.82 billion, a P/E ratio of 27.68, 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 issued 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%. Equities research analysts forecast 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. Shareholders of record on Friday, October 3rd were given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Friday, October 3rd. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio is currently 106.52%.

Wall Street Analyst Weigh In

PM has been the subject of a number of research analyst reports. Morgan Stanley set a $175.00 target price on shares of Philip Morris International and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Barclays decreased their price target on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a research report on Monday. Stifel Nicolaus set a $180.00 price objective on Philip Morris International in a research report on Tuesday, October 21st. Wall Street Zen upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday. Finally, Citigroup reiterated a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $189.56.

Philip Morris International Company 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.