Goldman Sachs Group Inc. Purchases 3,575,158 Shares of Philip Morris International Inc. (NYSE:PM)

Key Points

• Goldman Sachs Group Inc. increased its stake in Philip Morris International Inc. by 57.5% during the first quarter, owning approximately 9.79 million shares valued at $1.55 billion after acquiring an additional 3.58 million shares.
• Philip Morris International reported a quarterly earnings per share of $1.91, exceeding analysts' expectations of $1.86, despite a revenue that fell short of estimates at $10.14 billion.
• The company recently declared a quarterly dividend of $1.35, translating to an annualized dividend of $5.40 and a yield of 3.3%, although its payout ratio is notably high at 102.66%.

Goldman Sachs Group Inc. boosted its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 57.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,794,530 shares of the company's stock after buying an additional 3,575,158 shares during the period. Goldman Sachs Group Inc. owned approximately 0.63% of Philip Morris International worth $1,554,686,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Perigon Wealth Management LLC raised its holdings in shares of Philip Morris International by 0.4% in the first quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company's stock worth $2,236,000 after buying an additional 60 shares during the period. TBH Global Asset Management LLC raised its holdings in shares of Philip Morris International by 0.9% in the first quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company's stock worth $1,100,000 after buying an additional 61 shares during the period. Capital Advisors Wealth Management LLC increased its holdings in Philip Morris International by 2.1% during the 1st quarter. Capital Advisors Wealth Management LLC now owns 3,005 shares of the company's stock worth $477,000 after purchasing an additional 63 shares during the period. Renasant Bank increased its holdings in Philip Morris International by 3.3% during the 1st quarter. Renasant Bank now owns 1,994 shares of the company's stock worth $317,000 after purchasing an additional 63 shares during the period. Finally, Lloyd Advisory Services LLC. increased its holdings in Philip Morris International by 3.3% during the 1st quarter. Lloyd Advisory Services LLC. now owns 2,032 shares of the company's stock worth $323,000 after purchasing an additional 64 shares during the period. 78.63% of the stock is owned by institutional investors.

Philip Morris International Price Performance

Philip Morris International stock opened at $163.92 on Wednesday. The stock has a market capitalization of $255.15 billion, a price-to-earnings ratio of 31.16, a PEG ratio of 2.37 and a beta of 0.48. Philip Morris International Inc. has a 1-year low of $113.20 and a 1-year high of $186.69. The business has a fifty day moving average price of $176.93 and a 200-day moving average price of $162.49.

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, topping analysts' consensus estimates of $1.86 by $0.05. The firm had revenue of $10.14 billion during the quarter, compared to analysts' expectations of $10.33 billion. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. The business's quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.59 EPS. On average, equities research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were paid a $1.35 dividend. The ex-dividend date was Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.3%. Philip Morris International's dividend payout ratio is presently 102.66%.

Analysts Set New Price Targets

PM has been the topic of several research reports. Stifel Nicolaus raised their price objective on Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Morgan Stanley restated an "overweight" rating and set a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Barclays reduced their price objective on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. KGI Securities initiated coverage on Philip Morris International in a research report on Monday. They set an "outperform" rating on the stock. Finally, JPMorgan Chase & Co. increased their target price 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. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Philip Morris International currently has an average rating of "Moderate Buy" and a consensus price target of $186.27.

Philip Morris International 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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