Philip Morris International Inc. $PM Shares Acquired by Primecap Management Co. CA

Primecap Management Co. CA boosted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 599.2% in the second quarter, HoldingsChannel.com reports. The fund owned 915,300 shares of the company’s stock after purchasing an additional 784,400 shares during the period. Primecap Management Co. CA’s holdings in Philip Morris International were worth $166,704,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PM. WCM Investment Management LLC raised its stake 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 period. Nuveen LLC purchased a new stake in Philip Morris International during the 1st quarter worth about $1,712,994,000. Wellington Management Group LLP raised its holdings in Philip Morris International by 26.4% during the first quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock worth $3,466,730,000 after purchasing an additional 4,563,632 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Philip Morris International by 57.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company’s stock worth $1,554,686,000 after buying an additional 3,575,158 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Philip Morris International by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 142,857,055 shares of the company’s stock worth $26,018,555,000 after buying an additional 2,235,380 shares during the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Trading Down 0.3%

Philip Morris International stock opened at $155.46 on Thursday. The business’s 50 day simple moving average is $156.88 and its 200 day simple moving average is $167.55. The company has a market cap of $241.99 billion, a price-to-earnings ratio of 28.16, a PEG ratio of 1.84 and a beta of 0.43. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share 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%. As a group, 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 business also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.8%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date was Friday, October 3rd. Philip Morris International’s dividend payout ratio (DPR) is currently 106.52%.

Analyst Upgrades and Downgrades

PM has been the subject of a number of analyst reports. KGI Securities assumed coverage on shares of Philip Morris International in a research report on Monday, August 4th. They issued an “outperform” rating for the company. UBS Group decreased their price target on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research note on Friday, September 5th. Barclays reduced their price objective on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a research report on Monday. Wall Street Zen raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday. Finally, Citigroup reissued a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently 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.