Philip Morris International Inc. $PM Shares Newly Acquired by Fifth Third Bancorp

Fifth Third Bancorp acquired a new stake in Philip Morris International Inc. (NYSE:PM) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 955,162 shares of the company’s stock, valued at approximately $182,264,000. Fifth Third Bancorp owned 0.06% of Philip Morris International as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of PM. Silver Grove Financial Group Inc. lifted its holdings in shares of Philip Morris International by 3.0% during the 3rd quarter. Silver Grove Financial Group Inc. now owns 1,896 shares of the company’s stock valued at $362,000 after buying an additional 55 shares during the last quarter. Financial Network Wealth Advisors LLC boosted its holdings in Philip Morris International by 9.9% in the third quarter. Financial Network Wealth Advisors LLC now owns 620 shares of the company’s stock worth $118,000 after purchasing an additional 56 shares in the last quarter. Hughes Financial Services LLC increased its position in Philip Morris International by 8.4% during the third quarter. Hughes Financial Services LLC now owns 719 shares of the company’s stock worth $150,000 after buying an additional 56 shares during the last quarter. Platt Wealth Management LLC raised its stake in shares of Philip Morris International by 2.1% in the 2nd quarter. Platt Wealth Management LLC now owns 2,833 shares of the company’s stock valued at $512,000 after acquiring an additional 58 shares in the last quarter. Finally, Security Financial Services INC. lifted its holdings in Philip Morris International by 2.2% in the 3rd quarter. Security Financial Services INC. now owns 2,978 shares of the company’s stock worth $568,000 after purchasing an additional 64 shares during the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Stock Up 1.0%

Shares of PM stock opened at $196.29 on Thursday. Philip Morris International Inc. has a 12-month low of $146.35 and a 12-month high of $214.35. The company has a market capitalization of $305.95 billion, a P/E ratio of 28.66, a P/E/G ratio of 2.61 and a beta of 0.34. The firm has a 50-day moving average price of $195.91 and a 200 day moving average price of $183.17.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Wednesday, October 21st. The company reported $2.36 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.06. The firm had revenue of $11.44 billion for 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 company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.24 earnings per share. As a group, research analysts expect that Philip Morris International Inc. will post 8.32 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Shareholders of record on Friday, October 2nd were paid a $1.60 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.47. This represents a $6.40 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, October 2nd. Philip Morris International’s payout ratio is presently 93.43%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Weiss Ratings upgraded shares of Philip Morris International from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, November 4th. Morgan Stanley increased their price objective on Philip Morris International from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. UBS Group boosted 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. Argus boosted their price objective on shares of Philip Morris International from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, October 26th. Finally, JPMorgan Chase & Co. started coverage on shares of Philip Morris International in a research report on Tuesday. They set a “neutral” rating and a $200.00 price objective for the company. 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.