Geode Capital Management LLC Purchases 672,983 Shares of Philip Morris International Inc. $PM

Geode Capital Management LLC lifted its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 1.8% in the second quarter, Holdings Channel.com reports. The fund owned 37,181,107 shares of the company’s stock after purchasing an additional 672,983 shares during the period. Philip Morris International comprises approximately 0.5% of Geode Capital Management LLC’s portfolio, making the stock its 26th largest holding. Geode Capital Management LLC’s holdings in Philip Morris International were worth $6,760,346,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Brighton Jones LLC grew its stake in Philip Morris International by 31.1% in the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock worth $1,027,000 after purchasing an additional 2,023 shares during the period. Revolve Wealth Partners LLC lifted its position in Philip Morris International by 4.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock valued at $252,000 after buying an additional 91 shares during the period. Capstone Wealth Management Group LLC bought a new stake in shares of Philip Morris International during the 1st quarter valued at $238,000. CWM LLC grew its position in shares of Philip Morris International by 16.7% in the 1st quarter. CWM LLC now owns 74,865 shares of the company’s stock worth $11,883,000 after buying an additional 10,699 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of Philip Morris International by 123.9% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 5,345 shares of the company’s stock worth $848,000 after acquiring an additional 2,958 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

NYSE PM opened at $156.93 on Wednesday. Philip Morris International Inc. has a one year low of $116.12 and a one year high of $186.69. The stock has a 50-day moving average of $157.85 and a 200 day moving average of $168.18. The company has a market capitalization of $244.28 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 2.25 and a beta of 0.43.

Philip Morris International (NYSE:PM) last announced its quarterly 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 firm had revenue of $8.12 billion for the quarter. On average, equities analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s payout ratio is currently 106.52%.

Wall Street Analyst Weigh In

Several research firms recently commented on PM. The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Wall Street Zen downgraded Philip Morris International from a “buy” rating to a “hold” rating in a research note on Sunday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. KGI Securities began coverage on Philip Morris International in a report on Monday, August 4th. They issued an “outperform” rating on the stock. Finally, UBS Group reduced their price target on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a report on Friday, September 5th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.