Price T Rowe Associates Inc. MD Reduces Holdings in Philip Morris International Inc. (NYSE:PM)

Price T Rowe Associates Inc. MD trimmed its position in shares of Philip Morris International Inc. (NYSE:PM) by 40.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,696,841 shares of the company’s stock after selling 11,530,797 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Philip Morris International were worth $1,529,765,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Kessler Investment Group LLC purchased a new stake in Philip Morris International in the 1st quarter valued at $25,000. Boyd Watterson Asset Management LLC OH grew its holdings in Philip Morris International by 250.0% in the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock valued at $30,000 after buying an additional 230 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in Philip Morris International in the 4th quarter valued at $33,000. Northwest Financial Advisors purchased a new stake in Philip Morris International in the 4th quarter valued at $33,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in Philip Morris International in the 4th quarter valued at $38,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Trading Up 0.1 %

PM traded up $0.16 during mid-day trading on Friday, hitting $113.36. 5,381,717 shares of the stock were exchanged, compared to its average volume of 4,451,253. The firm’s fifty day moving average is $103.26 and its two-hundred day moving average is $96.53. Philip Morris International Inc. has a 1-year low of $87.23 and a 1-year high of $113.68. The company has a market cap of $176.22 billion, a PE ratio of 22.14, a PEG ratio of 2.30 and a beta of 0.58.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.02. The firm had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 10.92%. Philip Morris International’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.60 EPS. As a group, research analysts anticipate that Philip Morris International Inc. will post 6.4 earnings per share for the current year.

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 8th. Shareholders of record on Friday, June 21st were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date of this dividend was Friday, June 21st. Philip Morris International’s dividend payout ratio is currently 101.56%.

Wall Street Analyst Weigh In

PM has been the subject of several analyst reports. Bank of America upped their target price on Philip Morris International from $110.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday. Stifel Nicolaus upped their target price on Philip Morris International from $115.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. increased their price target on Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $107.80.

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.