Diamond Hill Capital Management Inc. Has $158.68 Million Stake in Philip Morris International Inc (PM)

Diamond Hill Capital Management Inc. boosted its position in shares of Philip Morris International Inc (NYSE:PM) by 8.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,405,451 shares of the company’s stock after buying an additional 109,525 shares during the period. Diamond Hill Capital Management Inc. owned about 0.09% of Philip Morris International worth $158,675,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Gradient Investments LLC raised its stake in shares of Philip Morris International by 76.1% in the first quarter. Gradient Investments LLC now owns 986 shares of the company’s stock worth $111,000 after buying an additional 426 shares in the last quarter. Welch Investments LLC purchased a new stake in Philip Morris International during the first quarter valued at about $113,000. Acropolis Investment Management LLC purchased a new stake in Philip Morris International during the first quarter valued at about $117,000. Gemmer Asset Management LLC raised its position in shares of Philip Morris International by 40.6% in the first quarter. Gemmer Asset Management LLC now owns 1,115 shares of the company’s stock valued at $126,000 after buying an additional 322 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Philip Morris International during the fourth quarter valued at $106,000. Hedge funds and other institutional investors own 72.45% of the company’s stock.

Shares of Philip Morris International Inc (PM) opened at 114.67 on Wednesday. Philip Morris International Inc has a 52 week low of $86.78 and a 52 week high of $123.55. The company has a 50-day moving average price of $118.47 and a 200-day moving average price of $112.17. The company has a market capitalization of $178.10 billion, a PE ratio of 25.41 and a beta of 0.93.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, July 20th. The company reported $1.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by $0.09. The company had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $7.11 billion. Philip Morris International had a negative return on equity of 66.18% and a net margin of 9.36%. The company’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.15 earnings per share. Analysts predict that Philip Morris International Inc will post $4.83 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 11th. Investors of record on Friday, June 23rd were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend was Wednesday, June 21st. Philip Morris International’s dividend payout ratio is currently 92.24%.

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Several brokerages have recently weighed in on PM. BidaskClub lowered shares of Philip Morris International from a “hold” rating to a “sell” rating in a research report on Saturday. Berenberg Bank set a $96.00 price target on shares of Philip Morris International and gave the company a “hold” rating in a research note on Saturday, June 24th. Citigroup Inc. reiterated a “neutral” rating and set a $125.00 price objective (down from $128.00) on shares of Philip Morris International in a research note on Monday, July 24th. Bank of America Corporation increased their price objective on shares of Philip Morris International from $120.00 to $123.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 30th. Finally, Zacks Investment Research lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday, July 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $122.00.

Philip Morris International Company Profile

Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.

Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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