Bank of New York Mellon Corp Has $2.39 Billion Stake in Philip Morris International Inc. (NYSE:PM)

Bank of New York Mellon Corp cut its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 6.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,042,511 shares of the company's stock after selling 1,027,971 shares during the period. Bank of New York Mellon Corp owned about 0.97% of Philip Morris International worth $2,387,698,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Philip Morris International by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 139,432,392 shares of the company's stock valued at $16,780,688,000 after buying an additional 1,167,810 shares in the last quarter. Capital World Investors boosted its stake in shares of Philip Morris International by 3.6% in the 4th quarter. Capital World Investors now owns 122,584,210 shares of the company's stock valued at $14,752,926,000 after purchasing an additional 4,216,586 shares in the last quarter. GQG Partners LLC boosted its stake in shares of Philip Morris International by 14.3% in the 4th quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock valued at $5,866,678,000 after purchasing an additional 6,092,558 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Philip Morris International by 9.9% during the 4th quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company's stock valued at $4,241,837,000 after purchasing an additional 3,185,258 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Philip Morris International by 3.1% during the 4th quarter. Wellington Management Group LLP now owns 17,276,790 shares of the company's stock worth $2,079,262,000 after purchasing an additional 516,617 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Argus raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. Citigroup raised their price objective on Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, April 16th. Morgan Stanley restated an "overweight" rating and set a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Stifel Nicolaus increased their target price on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Finally, Wall Street Zen raised Philip Morris International from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $176.80.

Philip Morris International Stock Down 2.0%

Philip Morris International stock traded down $3.54 during mid-day trading on Tuesday, hitting $177.66. 4,175,208 shares of the stock were exchanged, compared to its average volume of 5,631,143. The stock has a market capitalization of $276.53 billion, a price-to-earnings ratio of 36.63, a PEG ratio of 2.63 and a beta of 0.51. Philip Morris International Inc. has a 12 month low of $101.62 and a 12 month high of $186.69. The firm's fifty day simple moving average is $177.53 and its two-hundred day simple moving average is $155.58.

Philip Morris International (NYSE:PM - Get Free Report) last announced 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. The business had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.10 billion. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. Philip Morris International's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.50 earnings per share. As a group, analysts forecast 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. Investors of record on Friday, June 27th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $5.40 annualized dividend and a dividend yield of 3.04%. Philip Morris International's payout ratio is 111.34%.

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.