Citizens Financial Group Inc. RI Buys 6,322 Shares of Philip Morris International Inc. (NYSE:PM)

Key Points

• Citizens Financial Group Inc. RI increased its stake in Philip Morris International by 40.5%, acquiring an additional 6,322 shares, bringing its total holdings to 21,914 shares valued at approximately $3.5 million.
• Philip Morris International recently announced a quarterly dividend of $1.35, representing an annualized rate of $5.40 and a dividend yield of 3.2%, although its dividend payout ratio is notably high at 102.66%.
• Analysts are optimistic about Philip Morris International, with the stock receiving a consensus rating of "Moderate Buy" and a price target averaging around $186.27 from various research firms.

Citizens Financial Group Inc. RI grew its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 40.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,914 shares of the company's stock after acquiring an additional 6,322 shares during the quarter. Citizens Financial Group Inc. RI's holdings in Philip Morris International were worth $3,503,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PM. Brighton Jones LLC increased its stake in shares of Philip Morris International by 31.1% in the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock valued at $1,027,000 after acquiring an additional 2,023 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in Philip Morris International by 4.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company's stock worth $252,000 after purchasing an additional 91 shares in the last quarter. American Century Companies Inc. increased its stake in Philip Morris International by 37.4% during the 4th quarter. American Century Companies Inc. now owns 14,425 shares of the company's stock worth $1,736,000 after purchasing an additional 3,929 shares in the last quarter. FIL Ltd increased its stake in Philip Morris International by 52.1% during the 4th quarter. FIL Ltd now owns 394,353 shares of the company's stock worth $47,460,000 after purchasing an additional 135,007 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Philip Morris International during the 4th quarter worth approximately $15,513,000. 78.63% of the stock is owned by institutional investors.

Philip Morris International Trading Up 1.7%

NYSE PM opened at $167.00 on Thursday. Philip Morris International Inc. has a 12 month low of $114.20 and a 12 month high of $186.69. The stock has a 50 day moving average of $176.70 and a 200-day moving average of $162.53. The company has a market cap of $259.96 billion, a PE ratio of 31.75, a PEG ratio of 2.39 and a beta of 0.48.

Philip Morris International (NYSE:PM - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.91 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $10.14 billion during the quarter, compared to analysts' expectations of $10.33 billion. During the same period last year, the business earned $1.59 earnings per share. The firm's revenue was up 7.1% on a year-over-year basis. As a group, sell-side analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were paid a $1.35 dividend. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 annualized dividend and a dividend yield of 3.2%. Philip Morris International's dividend payout ratio (DPR) is currently 102.66%.

Analyst Ratings Changes

A number of research firms recently issued reports on PM. Bank of America increased their target price on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. JPMorgan Chase & Co. increased 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. Morgan Stanley reissued an "overweight" rating and set a $182.00 target price (up from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Jefferies Financial Group initiated coverage on Philip Morris International in a research note on Wednesday, July 9th. They set a "buy" rating and a $220.00 target price for the company. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $195.00 price target on shares of Philip Morris International in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $186.27.

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.

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