Deutsche Bank AG Boosts Stake in Philip Morris International Inc. (NYSE:PM)

Key Points

• Deutsche Bank AG increased its stake in Philip Morris International Inc. by 32.7%, now owning approximately 3.5 million shares valued at around $562.8 million.
• Several institutional investors have also raised their stakes, with Cortland Associates Inc. increasing their holdings by an impressive 704.0% during the same quarter.
• The company recently announced a quarterly dividend of $1.35 per share, yielding approximately 3.2%, although its payout ratio stands at 102.66%.

Deutsche Bank AG grew its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 32.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,545,811 shares of the company's stock after buying an additional 873,202 shares during the period. Deutsche Bank AG owned 0.23% of Philip Morris International worth $562,827,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PM. Vanguard Group Inc. increased its stake in Philip Morris International by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 140,621,675 shares of the company's stock worth $22,320,878,000 after acquiring an additional 1,189,283 shares during the last quarter. Capital World Investors increased its position in shares of Philip Morris International by 3.6% during 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 during the last quarter. Northern Trust Corp increased its position in shares of Philip Morris International by 11.0% during the 4th quarter. Northern Trust Corp now owns 13,630,177 shares of the company's stock valued at $1,640,392,000 after purchasing an additional 1,347,503 shares during the last quarter. Fayez Sarofim & Co increased its position in shares of Philip Morris International by 7.1% during the 4th quarter. Fayez Sarofim & Co now owns 10,313,383 shares of the company's stock valued at $1,241,216,000 after purchasing an additional 685,431 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Philip Morris International by 57.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company's stock valued at $1,554,686,000 after purchasing an additional 3,575,158 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PM shares. Citigroup reiterated an "overweight" rating on shares of Philip Morris International in a research report on Tuesday, July 22nd. Jefferies Financial Group started coverage on Philip Morris International in a research report on Wednesday, July 9th. They set a "buy" rating and a $220.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Barclays dropped their target price 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. Finally, Bank of America increased their target price on Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, Philip Morris International presently has a consensus rating of "Moderate Buy" and an average target price of $186.27.

Philip Morris International Price Performance

PM stock traded up $2.06 on Friday, reaching $170.23. 3,774,105 shares of the company traded hands, compared to its average volume of 7,011,663. Philip Morris International Inc. has a one year low of $115.62 and a one year high of $186.69. The company has a market cap of $264.98 billion, a P/E ratio of 32.36, a price-to-earnings-growth ratio of 2.45 and a beta of 0.48. The firm has a fifty day simple moving average of $176.29 and a 200-day simple moving average of $163.16.

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

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International's payout ratio is currently 102.66%.

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.