GF Fund Management CO. LTD. Buys 270,653 Shares of Philip Morris International Inc. (NYSE:PM)

GF Fund Management CO. LTD. increased its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 39,282.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 271,342 shares of the company's stock after buying an additional 270,653 shares during the period. Philip Morris International accounts for approximately 1.0% of GF Fund Management CO. LTD.'s portfolio, making the stock its 15th largest holding. GF Fund Management CO. LTD.'s holdings in Philip Morris International were worth $43,070,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PM. GQG Partners LLC grew its stake in shares of Philip Morris International by 14.3% during the fourth quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock valued at $5,866,678,000 after buying an additional 6,092,558 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Philip Morris International by 19,986.5% in the first quarter. GAMMA Investing LLC now owns 4,486,928 shares of the company's stock worth $712,210,000 after purchasing an additional 4,464,590 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Philip Morris International in the fourth quarter worth about $522,214,000. Kovitz Investment Group Partners LLC grew its stake in shares of Philip Morris International by 372.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,453,285 shares of the company's stock worth $656,303,000 after purchasing an additional 4,298,530 shares during the last quarter. Finally, Capital World Investors grew its stake in shares of Philip Morris International by 3.6% in the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company's stock worth $14,752,926,000 after purchasing an additional 4,216,586 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Price Performance

NYSE PM traded up $1.33 during mid-day trading on Monday, reaching $180.21. The stock had a trading volume of 1,216,897 shares, compared to its average volume of 5,625,384. Philip Morris International Inc. has a 1 year low of $101.62 and a 1 year high of $186.69. The stock has a market cap of $280.50 billion, a PE ratio of 37.12, a price-to-earnings-growth ratio of 2.59 and a beta of 0.51. The company has a fifty day moving average price of $177.14 and a 200 day moving average price of $155.03.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data 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. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The company had revenue of $9.30 billion during the quarter, compared to analyst estimates of $9.10 billion. During the same period in the previous year, the business earned $1.50 EPS. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities research analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be issued a $1.35 dividend. The ex-dividend date is Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a yield of 3.00%. Philip Morris International's payout ratio is currently 111.34%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Argus raised Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. Morgan Stanley restated an "overweight" rating and issued a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Citigroup raised their price objective on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, April 16th. Barclays restated an "overweight" rating and issued a $220.00 price objective (up from $205.00) on shares of Philip Morris International in a report on Friday, June 13th. Finally, Wall Street Zen upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Philip Morris International currently has a consensus rating of "Moderate Buy" and an average price target of $176.80.

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.