J.Safra Asset Management Corp Purchases 358 Shares of Philip Morris International Inc. $PM

J.Safra Asset Management Corp grew its stake in Philip Morris International Inc. (NYSE:PM) by 8.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,707 shares of the company’s stock after purchasing an additional 358 shares during the quarter. J.Safra Asset Management Corp’s holdings in Philip Morris International were worth $852,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Nuveen LLC purchased a new stake in Philip Morris International in the first quarter worth about $1,712,994,000. Wellington Management Group LLP grew its position in Philip Morris International by 26.4% during the 1st quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock valued at $3,466,730,000 after purchasing an additional 4,563,632 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Philip Morris International by 57.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company’s stock valued at $1,554,686,000 after purchasing an additional 3,575,158 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Philip Morris International by 22.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,018,628 shares of the company’s stock valued at $1,431,527,000 after acquiring an additional 1,635,636 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Philip Morris International by 111.1% during the 1st quarter. AQR Capital Management LLC now owns 3,002,216 shares of the company’s stock valued at $473,660,000 after acquiring an additional 1,580,368 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. KGI Securities assumed coverage on shares of Philip Morris International in a report on Monday, August 4th. They set an “outperform” rating on the stock. UBS Group dropped their price target on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a report on Friday, September 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 price target on shares of Philip Morris International in a report on Wednesday, July 23rd. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Philip Morris International presently has an average rating of “Moderate Buy” and an average target price of $195.44.

Philip Morris International Price Performance

Shares of NYSE:PM opened at $159.31 on Tuesday. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69. The company has a market capitalization of $247.99 billion, a P/E ratio of 30.29, a P/E/G ratio of 2.34 and a beta of 0.46. The firm’s 50 day simple moving average is $164.17 and its two-hundred day simple moving average is $168.90.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. The firm had revenue of $8.12 billion for the quarter. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. On average, sell-side analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 3rd will be given a $1.47 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 annualized dividend and a yield of 3.7%. The ex-dividend date is Friday, October 3rd. Philip Morris International’s dividend payout ratio (DPR) is presently 111.79%.

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.