Philip Morris International Inc. $PM Stake Increased by Keybank National Association OH

Keybank National Association OH lifted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 5.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 367,303 shares of the company’s stock after acquiring an additional 20,050 shares during the period. Keybank National Association OH’s holdings in Philip Morris International were worth $70,089,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its holdings in shares of Philip Morris International by 30.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 11,669,878 shares of the company’s stock valued at $2,111,198,000 after buying an additional 2,755,662 shares in the last quarter. Teamwork Financial Advisors LLC boosted its stake in Philip Morris International by 2,662.6% in the second quarter. Teamwork Financial Advisors LLC now owns 65,695 shares of the company’s stock worth $11,885,000 after buying an additional 63,317 shares in the last quarter. Perennial Investment Advisors LLC purchased a new stake in Philip Morris International in the second quarter worth approximately $505,000. Orographic Financial Advisors LLC bought a new position in Philip Morris International during the first quarter valued at approximately $1,205,000. Finally, Principal Financial Group Inc. grew its position in Philip Morris International by 0.5% during the first quarter. Principal Financial Group Inc. now owns 1,749,744 shares of the company’s stock valued at $289,303,000 after acquiring an additional 9,047 shares during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Trading Up 0.6%

NYSE PM opened at $194.31 on Wednesday. Philip Morris International Inc. has a 1-year low of $146.35 and a 1-year high of $214.35. The stock has a 50-day moving average of $195.73 and a 200-day moving average of $183.05. The firm has a market cap of $302.86 billion, a PE ratio of 28.37, a price-to-earnings-growth ratio of 2.59 and a beta of 0.34.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.06. The business had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $11.32 billion. Philip Morris International had a net margin of 10.73% and a negative return on equity of 183.96%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.24 EPS. As a group, equities research analysts forecast that Philip Morris International Inc. will post 8.32 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 26th. Investors of record on Friday, October 2nd were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Friday, October 2nd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.47. Philip Morris International’s dividend payout ratio (DPR) is 93.43%.

Wall Street Analyst Weigh In

PM has been the topic of several research reports. Morgan Stanley lifted their price target on shares of Philip Morris International from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Stifel Nicolaus upped their price objective on shares of Philip Morris International from $205.00 to $232.00 and gave the company a “buy” rating in a research note on Tuesday, November 3rd. BTIG Research set a $221.00 target price on shares of Philip Morris International and gave the company a “buy” rating in a report on Friday, July 24th. Argus increased their target price on shares of Philip Morris International from $210.00 to $220.00 and gave the company a “buy” rating in a report on Monday, October 26th. Finally, UBS Group lifted their target price on shares of Philip Morris International from $193.00 to $201.00 and gave the stock a “neutral” rating in a research report on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $213.90.

Philip Morris International Profile

Philip Morris International is a global tobacco and nicotine company that develops, manufactures and sells cigarettes and smoke-free products. Its cigarette brands include Marlboro in markets outside the United States, along with other regional and international brands. The company’s smoke-free portfolio includes IQOS heated tobacco products, ZYN nicotine pouches and VEEV e-vapor products. Philip Morris International sells its products in markets around the world, with availability varying by country and subject to local regulations.