Chevy Chase Trust Holdings LLC Purchases 10,028 Shares of Philip Morris International Inc. $PM

Key Points

• Chevy Chase Trust Holdings LLC increased its stake in Philip Morris International Inc. by 1.2% during Q2, now owning approximately 832,522 shares valued at $151.63 million.
• Several analysts have recently downgraded their ratings on Philip Morris International, with Wall Street Zen changing its recommendation from "buy" to "hold."
• The company announced a quarterly dividend increase to $1.47 per share, which reflects a yield of 3.8%, up from its previous amount of $1.35 per share.

Chevy Chase Trust Holdings LLC increased its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 1.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 832,522 shares of the company's stock after purchasing an additional 10,028 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Philip Morris International worth $151,627,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PM. Abound Wealth Management lifted its stake in shares of Philip Morris International by 566.7% during the 2nd quarter. Abound Wealth Management now owns 160 shares of the company's stock worth $29,000 after purchasing an additional 136 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new stake in Philip Morris International during the first quarter valued at about $30,000. CBIZ Investment Advisory Services LLC boosted its position in Philip Morris International by 405.0% during the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company's stock valued at $32,000 after purchasing an additional 162 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Philip Morris International during the 1st quarter valued at $34,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Philip Morris International during the 1st quarter valued at $35,000. Institutional investors own 78.63% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wall Street Zen lowered Philip Morris International from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Barclays decreased their price objective on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Jefferies Financial Group assumed coverage on Philip Morris International in a report on Wednesday, July 9th. They set a "buy" rating and a $220.00 price objective for the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Philip Morris International in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their target price on Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $195.44.

Philip Morris International Stock Performance

NYSE:PM opened at $155.82 on Friday. The company has a fifty day moving average of $163.64 and a two-hundred day moving average of $168.73. The stock has a market capitalization of $242.55 billion, a PE ratio of 29.62, a P/E/G ratio of 2.30 and a beta of 0.46. Philip Morris International Inc. has a fifty-two week low of $116.12 and a fifty-two week high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%.The company had revenue of $8.12 billion for the quarter. Research analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be issued a dividend of $1.47 per share. The ex-dividend date is Friday, October 3rd. This represents a $5.88 annualized dividend and a dividend yield of 3.8%. This is an increase from Philip Morris International's previous quarterly dividend of $1.35. Philip Morris International's payout ratio is presently 111.79%.

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.

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