Banco Santander S.A. Has $23.53 Million Stake in Philip Morris International Inc. (NYSE:PM)

Key Points

• Banco Santander S.A. has increased its stake in Philip Morris International Inc. by 42.2%, now owning 148,233 shares worth approximately $23.53 million.
• Analysts maintain a consensus rating of "Moderate Buy" for Philip Morris International, with an average target price of $186.27.
• Philip Morris International recently announced a quarterly dividend of $1.35, resulting in a dividend yield of 3.3%, despite a payout ratio exceeding 102%.

Banco Santander S.A. increased its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 42.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 148,233 shares of the company's stock after purchasing an additional 43,988 shares during the quarter. Banco Santander S.A.'s holdings in Philip Morris International were worth $23,529,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of PM. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of Philip Morris International by 123.9% during 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. Cumberland Partners Ltd grew its stake in shares of Philip Morris International by 1.1% during the 1st quarter. Cumberland Partners Ltd now owns 63,545 shares of the company's stock worth $10,086,000 after acquiring an additional 720 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. grew its stake in shares of Philip Morris International by 6.3% during the 1st quarter. Klein Pavlis & Peasley Financial Inc. now owns 31,410 shares of the company's stock worth $4,966,000 after acquiring an additional 1,868 shares in the last quarter. Fiduciary Wealth Partners LLC bought a new position in shares of Philip Morris International during the 1st quarter worth approximately $111,000. Finally, IFG Advisory LLC grew its stake in shares of Philip Morris International by 4.3% during the 1st quarter. IFG Advisory LLC now owns 34,660 shares of the company's stock worth $5,502,000 after acquiring an additional 1,443 shares in the last quarter. 78.63% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PM. Jefferies Financial Group began coverage on shares of Philip Morris International in a research note on Wednesday, July 9th. They set a "buy" rating and a $220.00 price target for the company. Morgan Stanley restated an "overweight" rating and set a $182.00 target price (up from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Stifel Nicolaus upped their price target on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. upped their price target on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, UBS Group upped their price target on shares of Philip Morris International from $170.00 to $181.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, Philip Morris International presently has a consensus rating of "Moderate Buy" and a consensus target price of $186.27.

Philip Morris International Stock Down 0.7%

Shares of PM traded down $1.09 during midday trading on Friday, reaching $162.96. 7,552,974 shares of the stock were exchanged, compared to its average volume of 6,943,793. Philip Morris International Inc. has a twelve month low of $113.15 and a twelve month high of $186.69. The company has a market cap of $253.66 billion, a P/E ratio of 30.98, a PEG ratio of 2.37 and a beta of 0.48. The stock's 50 day simple moving average is $177.55 and its 200 day simple moving average is $162.20.

Philip Morris International (NYSE:PM - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.86 by $0.05. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. The company had revenue of $10.14 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter last year, the firm earned $1.59 earnings per share. The company's revenue was up 7.1% on a year-over-year basis. As a group, analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International's payout ratio is 102.66%.

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.