Philip Morris International Inc. (NYSE:PM) Shares Bought by ING Groep NV

Key Points

• ING Groep NV increased its holdings in Philip Morris International Inc. by 40.1% in Q1, bringing its total shares to 454,738, valued at $72.18 million.
• Several other institutional investors also expanded their stakes, with Brighton Jones LLC increasing theirs by 31.1% during the fourth quarter.
• Analysts maintain a generally positive outlook, with the majority rating it as a buy, and a new average target price of $186.27 set for the stock.

ING Groep NV boosted its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 40.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 454,738 shares of the company's stock after purchasing an additional 130,054 shares during the period. ING Groep NV's holdings in Philip Morris International were worth $72,181,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PM. Pacifica Partners Inc. lifted its position in Philip Morris International by 115.0% in the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after purchasing an additional 115 shares during the period. Redmont Wealth Advisors LLC acquired a new position in Philip Morris International during the 1st quarter worth approximately $35,000. Inlight Wealth Management LLC purchased a new position in shares of Philip Morris International during the 1st quarter worth approximately $38,000. Ameriflex Group Inc. acquired a new stake in shares of Philip Morris International in the 4th quarter valued at approximately $36,000. Finally, Hughes Financial Services LLC purchased a new stake in shares of Philip Morris International in the first quarter valued at approximately $46,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Morgan Stanley reaffirmed an "overweight" rating and set a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Barclays lowered their price target on shares of Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. KGI Securities initiated coverage on shares of Philip Morris International in a research report on Monday. They set an "outperform" rating on the stock. Bank of America boosted their price target 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. Finally, UBS Group lifted their price objective on Philip Morris International from $170.00 to $181.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $186.27.

Philip Morris International Stock Up 1.2%

Shares of PM traded up $2.01 during trading hours on Friday, reaching $170.18. 2,661,393 shares of the company traded hands, compared to its average volume of 6,120,312. The stock has a market capitalization of $264.91 billion, a PE ratio of 32.35, a price-to-earnings-growth ratio of 2.43 and a beta of 0.48. The stock has a fifty day simple moving average of $176.50 and a 200 day simple moving average of $162.84. Philip Morris International Inc. has a fifty-two week low of $115.62 and a fifty-two week high of $186.69.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.86 by $0.05. The company had revenue of $10.14 billion for the quarter, compared to analyst estimates of $10.33 billion. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The firm's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.59 EPS. Research 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. Shareholders of record on Friday, June 27th were paid a $1.35 dividend. 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 presently 102.66%.

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.