Northern Trust Corp Has $2.15 Billion Stake in Philip Morris International Inc. $PM

Northern Trust Corp trimmed its position in Philip Morris International Inc. (NYSE:PM) by 0.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,569,705 shares of the company’s stock after selling 60,472 shares during the quarter. Northern Trust Corp’s holdings in Philip Morris International were worth $2,153,919,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Philip Morris International during the 1st quarter worth about $34,000. Pacifica Partners Inc. lifted its position in Philip Morris International by 115.0% during the first quarter. Pacifica Partners Inc. now owns 215 shares of the company’s stock worth $35,000 after acquiring an additional 115 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new stake in Philip Morris International during the first quarter worth approximately $35,000. Inlight Wealth Management LLC bought a new stake in shares of Philip Morris International during the first quarter worth approximately $38,000. Finally, Pandora Wealth Inc. acquired a new position in shares of Philip Morris International in the first quarter valued at approximately $42,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Stock Up 0.6%

NYSE:PM opened at $166.19 on Monday. The firm has a market capitalization of $258.69 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 2.42 and a beta of 0.48. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69. The stock’s 50-day simple moving average is $174.84 and its 200 day simple moving average is $165.04.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The company had revenue of $10.14 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same period last year, the company posted $1.59 EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were given a dividend of $1.35 per share. The ex-dividend date was Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a yield of 3.2%. Philip Morris International’s payout ratio is currently 102.66%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PM. KGI Securities began coverage on Philip Morris International in a research note on Monday, August 4th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. lifted their target price on Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Stifel Nicolaus upped their price target on shares of Philip Morris International from $168.00 to $186.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. Bank of America raised their price target on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Finally, Wall Street Zen downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Philip Morris International presently has a consensus rating of “Moderate Buy” and an average target price of $186.27.

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.