Philip Morris International Inc. $PM Stock Holdings Lifted by JW Asset Management LLC

by · The Cerbat Gem

JW Asset Management LLC raised its stake in shares of Philip Morris International Inc. (NYSE:PM – Free Report) by 48.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 15,350 shares of the company’s stock after purchasing an additional 5,000 shares during the period. Philip Morris International accounts for about 1.4% of JW Asset Management LLC’s investment portfolio, making the stock its 10th biggest holding. JW Asset Management LLC’s holdings in Philip Morris International were worth $2,796,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PM. Vanguard Group Inc. raised its position in shares of Philip Morris International by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 142,857,055 shares of the company’s stock valued at $26,018,555,000 after purchasing an additional 2,235,380 shares during the period. Geode Capital Management LLC increased its stake in Philip Morris International by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 37,181,107 shares of the company’s stock worth $6,760,346,000 after buying an additional 672,983 shares in the last quarter. Wellington Management Group LLP increased its stake in Philip Morris International by 26.4% in the 1st quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock worth $3,466,730,000 after buying an additional 4,563,632 shares in the last quarter. WCM Investment Management LLC raised its holdings 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 valued at $2,041,223,000 after acquiring an additional 11,230,626 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Philip Morris International in the first quarter valued at about $1,712,994,000. Institutional investors own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. UBS Group lowered their price target on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a report on Friday, September 5th. Citigroup reiterated a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Barclays reduced their price target on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Philip Morris International presently has an average rating of “Moderate Buy” and a consensus target price of $189.56.

View Our Latest Analysis on Philip Morris International

Philip Morris International Stock Performance

Shares of PM opened at $152.78 on Tuesday. The stock has a market capitalization of $237.82 billion, a PE ratio of 27.68, a P/E/G ratio of 2.25 and a beta of 0.43. The company’s fifty day moving average is $157.26 and its 200 day moving average is $167.74. Philip Morris International Inc. has a fifty-two week low of $116.12 and a fifty-two week high of $186.69.

Philip Morris International (NYSE:PM – Get Free Report) last issued its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The business 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%. As a group, research analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Increases Dividend

The company also recently disclosed 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%. This is a positive change 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 presently 106.52%.

About Philip Morris International

(Free Report)

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.

Further Reading

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