Bank of New York Mellon Corp Has $2.59 Billion Position in Philip Morris International Inc. $PM

Bank of New York Mellon Corp lessened its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 5.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 14,221,645 shares of the company’s stock after selling 820,866 shares during the period. Bank of New York Mellon Corp owned approximately 0.91% of Philip Morris International worth $2,590,188,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PM. BCGM Wealth Management LLC boosted its position in shares of Philip Morris International by 1.9% in the second quarter. BCGM Wealth Management LLC now owns 26,433 shares of the company’s stock valued at $4,814,000 after acquiring an additional 503 shares during the period. Machina Capital S.A.S. boosted its holdings in Philip Morris International by 178.6% in the 2nd quarter. Machina Capital S.A.S. now owns 8,623 shares of the company’s stock valued at $1,571,000 after purchasing an additional 5,528 shares during the period. Westside Investment Management Inc. grew its position in Philip Morris International by 9.6% in the 2nd quarter. Westside Investment Management Inc. now owns 3,419 shares of the company’s stock worth $621,000 after purchasing an additional 299 shares during the last quarter. Texas Bank & Trust Co acquired a new stake in Philip Morris International in the 2nd quarter worth $214,000. Finally, Telos Capital Management Inc. increased its holdings in shares of Philip Morris International by 4.4% during the 2nd quarter. Telos Capital Management Inc. now owns 3,224 shares of the company’s stock worth $587,000 after purchasing an additional 136 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Down 1.0%

Shares of Philip Morris International stock opened at $144.33 on Monday. The stock has a market capitalization of $224.67 billion, a P/E ratio of 26.15, a price-to-earnings-growth ratio of 2.09 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. The company has a 50-day simple moving average of $160.05 and a 200 day simple moving average of $168.92.

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. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. The company had revenue of $8.12 billion during the quarter. On average, equities analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were given a dividend of $1.47 per share. The ex-dividend date was Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.1%. Philip Morris International’s dividend payout ratio (DPR) is currently 106.52%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Stifel Nicolaus set a $180.00 price objective on Philip Morris International in a report on Tuesday, October 21st. The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Needham & Company LLC reiterated a “buy” rating and set a $195.00 price target on shares of Philip Morris International in a research note on Wednesday, July 23rd. Finally, Barclays dropped their price objective on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $194.00.

Philip Morris International 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.