Russell Investments Group Ltd. Reduces Holdings in Philip Morris International Inc. $PM

Russell Investments Group Ltd. lowered its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 5.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,232,926 shares of the company’s stock after selling 72,146 shares during the period. Russell Investments Group Ltd.’s holdings in Philip Morris International were worth $224,534,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Country Trust Bank lifted its stake in Philip Morris International by 115.7% in the 2nd quarter. Country Trust Bank now owns 302 shares of the company’s stock valued at $55,000 after buying an additional 162 shares in the last quarter. Inceptionr LLC raised its holdings in shares of Philip Morris International by 3.2% in the second quarter. Inceptionr LLC now owns 6,299 shares of the company’s stock worth $1,147,000 after acquiring an additional 194 shares during the last quarter. Richmond Investment Services LLC purchased a new stake in shares of Philip Morris International in the second quarter valued at $250,000. J.W. Cole Advisors Inc. boosted its stake in shares of Philip Morris International by 4.1% during the second quarter. J.W. Cole Advisors Inc. now owns 97,465 shares of the company’s stock valued at $17,751,000 after acquiring an additional 3,863 shares during the last quarter. Finally, Associated Banc Corp increased its position in Philip Morris International by 1.1% during the 2nd quarter. Associated Banc Corp now owns 549,762 shares of the company’s stock worth $100,128,000 after purchasing an additional 5,792 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Price Performance

Philip Morris International stock opened at $157.62 on Wednesday. The company has a market cap of $245.35 billion, a price-to-earnings ratio of 28.55, a price-to-earnings-growth ratio of 1.78 and a beta of 0.43. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69. The stock’s 50-day moving average is $156.09 and its 200-day moving average is $167.00.

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 firm had revenue of $8.12 billion during the quarter. Research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were paid a $1.47 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.7%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s payout ratio is 106.52%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Citigroup reiterated a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. UBS Group lowered their target price on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research note on Friday, September 5th. KGI Securities initiated coverage on Philip Morris International in a research note on Monday, August 4th. They set an “outperform” rating on the stock. The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Finally, Barclays dropped their target price on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday, November 17th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and an average price target of $189.56.

About Philip Morris International

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.