ING Groep NV Raises Stock Holdings in Philip Morris International Inc. (NYSE:PM)

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

Other institutional investors have also recently made changes to their positions in the company. Pacifica Partners Inc. raised its holdings in Philip Morris International by 115.0% in the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock worth $35,000 after purchasing an additional 115 shares in the last quarter. Redmont Wealth Advisors LLC bought a new position in Philip Morris International in the first quarter worth $35,000. Ball & Co Wealth Management Inc. bought a new position in Philip Morris International in the fourth quarter worth $36,000. Ameriflex Group Inc. bought a new position in Philip Morris International in the fourth quarter worth $36,000. Finally, Inlight Wealth Management LLC bought a new position in Philip Morris International in the first quarter worth $38,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

PM has been the subject of a number of research reports. Bank of America increased their price objective on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. UBS Group raised their price target on Philip Morris International from $170.00 to $181.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Needham & Company LLC restated a "buy" rating and set a $195.00 price target on shares of Philip Morris International in a report on Wednesday, July 23rd. Citigroup restated an "overweight" rating on shares of Philip Morris International in a report on Tuesday, July 22nd. Finally, Wall Street Zen upgraded Philip Morris International from a "hold" rating to a "buy" rating in a report on Sunday, July 20th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $186.27.

Philip Morris International Stock Up 0.7%

PM traded up $1.13 during trading hours on Thursday, reaching $168.12. 3,475,375 shares of the company's stock traded hands, compared to its average volume of 6,144,654. The firm has a 50-day moving average price of $176.70 and a 200 day moving average price of $162.53. Philip Morris International Inc. has a 52-week low of $114.94 and a 52-week high of $186.69. The firm has a market capitalization of $261.70 billion, a PE ratio of 31.96, a PEG ratio of 2.39 and a beta of 0.48.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.86 by $0.05. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. The company had revenue of $10.14 billion during the quarter, compared to analysts' expectations of $10.33 billion. During the same quarter in the previous year, the business earned $1.59 EPS. Philip Morris International's revenue was up 7.1% compared to the same quarter last year. Equities 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 issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, June 27th. Philip Morris International's dividend payout ratio is currently 102.66%.

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.