Assenagon Asset Management S.A. Grows Stock Position in Philip Morris International Inc. (NYSE:PM)

Assenagon Asset Management S.A. raised its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 1,501.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,566,677 shares of the company's stock after purchasing an additional 1,468,861 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.10% of Philip Morris International worth $248,679,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of PM. Capital & Planning LLC raised its stake in Philip Morris International by 7.1% in the fourth quarter. Capital & Planning LLC now owns 2,613 shares of the company's stock valued at $318,000 after purchasing an additional 173 shares in the last quarter. Brighton Jones LLC grew its holdings in shares of 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 last quarter. Revolve Wealth Partners LLC boosted its holdings in Philip Morris International by 4.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company's stock valued at $252,000 after acquiring an additional 91 shares in the last quarter. Savant Capital LLC boosted its holdings in Philip Morris International by 2.5% in the fourth quarter. Savant Capital LLC now owns 47,813 shares of the company's stock valued at $5,754,000 after acquiring an additional 1,148 shares in the last quarter. Finally, Soltis Investment Advisors LLC boosted its holdings in Philip Morris International by 9.8% in the fourth quarter. Soltis Investment Advisors LLC now owns 2,492 shares of the company's stock valued at $300,000 after acquiring an additional 222 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Trading Down 0.0%

NYSE:PM traded down $0.09 during mid-day trading on Friday, reaching $184.01. The company's stock had a trading volume of 5,500,599 shares, compared to its average volume of 5,615,900. Philip Morris International Inc. has a 12-month low of $98.93 and a 12-month high of $185.16. The firm's fifty day moving average price is $170.67 and its two-hundred day moving average price is $149.22. The stock has a market cap of $286.41 billion, a P/E ratio of 40.80, a PEG ratio of 2.65 and a beta of 0.52.

Philip Morris International (NYSE:PM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.08. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. The business had revenue of $9.30 billion during the quarter, compared to analyst estimates of $9.10 billion. During the same quarter in the previous year, the firm earned $1.50 EPS. Philip Morris International's revenue was up 5.8% on a year-over-year basis. Analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.93%. Philip Morris International's dividend payout ratio (DPR) is 111.34%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Stifel Nicolaus boosted their target price on shares of Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Argus upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a report on Friday, March 14th. UBS Group upgraded shares of Philip Morris International from a "sell" rating to a "neutral" rating and boosted their target price for the company from $130.00 to $170.00 in a report on Friday, April 25th. Needham & Company LLC started coverage on Philip Morris International in a research report on Thursday, May 22nd. They issued a "buy" rating for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Philip Morris International currently has a consensus rating of "Moderate Buy" and a consensus price target of $176.80.

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.