Primecap Management Co. CA Acquires 784,400 Shares of Philip Morris International Inc. $PM

Primecap Management Co. CA boosted its holdings in Philip Morris International Inc. (NYSE:PM) by 599.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 915,300 shares of the company’s stock after acquiring an additional 784,400 shares during the quarter. Primecap Management Co. CA owned 0.06% of Philip Morris International worth $166,704,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new stake in Philip Morris International during the second quarter worth $25,000. Traub Capital Management LLC bought a new stake in Philip Morris International during the 2nd quarter valued at $25,000. Abound Wealth Management lifted its position in shares of Philip Morris International by 566.7% during the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after acquiring an additional 136 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new position in shares of Philip Morris International in the first quarter worth $30,000. Finally, Briaud Financial Planning Inc boosted its holdings in shares of Philip Morris International by 266.7% in the second quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after acquiring an additional 120 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $195.00 price objective on shares of Philip Morris International in a report on Wednesday, July 23rd. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a research note on Thursday, September 4th. UBS Group dropped their price objective on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a report on Friday, September 5th. Wall Street Zen upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday. Finally, Stifel Nicolaus set a $180.00 price objective on shares of Philip Morris International in a research report on Tuesday, October 21st. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $189.56.

Philip Morris International Stock Down 0.3%

NYSE:PM opened at $155.46 on Thursday. The stock has a market cap of $241.99 billion, a price-to-earnings ratio of 28.16, a PEG ratio of 1.84 and a beta of 0.43. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69. The company’s 50 day moving average price is $156.88 and its 200-day moving average price is $167.55.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. The business had revenue of $8.12 billion for the quarter. As a group, sell-side 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 disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.8%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Friday, October 3rd. Philip Morris International’s dividend payout ratio is 106.52%.

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.