Virtus Advisers LLC Purchases New Holdings in Philip Morris International Inc. $PM

Virtus Advisers LLC purchased a new position in shares of Philip Morris International Inc. (NYSE:PM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 4,392 shares of the company’s stock, valued at approximately $800,000. Philip Morris International accounts for approximately 1.1% of Virtus Advisers LLC’s portfolio, making the stock its 16th biggest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in Philip Morris International by 1.6% during the second quarter. Vanguard Group Inc. now owns 142,857,055 shares of the company’s stock valued at $26,018,555,000 after buying an additional 2,235,380 shares during the period. Geode Capital Management LLC raised its position in Philip Morris International by 1.8% in the second quarter. Geode Capital Management LLC now owns 37,181,107 shares of the company’s stock worth $6,760,346,000 after acquiring an additional 672,983 shares during the period. Wellington Management Group LLP grew its position in shares of Philip Morris International by 26.4% during the 1st 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 period. WCM Investment Management LLC increased its stake in shares of Philip Morris International by 24,968.0% during the 2nd 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 last quarter. Finally, Nuveen LLC purchased a new stake in shares of Philip Morris International during the 1st quarter worth approximately $1,712,994,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Up 0.5%

Shares of PM opened at $157.25 on Monday. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69. The stock has a market cap of $244.78 billion, a PE ratio of 28.49, a P/E/G ratio of 1.86 and a beta of 0.43. The business’s 50-day moving average price is $155.69 and its 200-day moving average price is $166.85.

Philip Morris International (NYSE:PM) last posted its earnings results 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 net margin of 9.33% and a negative return on equity of 122.14%. 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 business also recently announced a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were paid a $1.47 dividend. This is an increase 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 3.7%. The ex-dividend date of this dividend was Friday, October 3rd. Philip Morris International’s payout ratio is 106.52%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PM shares. Citigroup reissued a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. KGI Securities assumed coverage on Philip Morris International in a research report on Monday, August 4th. They set an “outperform” rating on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Finally, UBS Group cut their target price on shares of 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. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $189.00.

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.