Massachusetts Financial Services Co. MA Buys 1,635,636 Shares of Philip Morris International Inc. (NYSE:PM)

Massachusetts Financial Services Co. MA grew its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 22.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 9,018,628 shares of the company's stock after acquiring an additional 1,635,636 shares during the period. Massachusetts Financial Services Co. MA owned 0.58% of Philip Morris International worth $1,431,527,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of PM. Pacifica Partners Inc. lifted its stake in shares of Philip Morris International by 115.0% in the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after acquiring an additional 115 shares during the last quarter. Redmont Wealth Advisors LLC bought a new position in Philip Morris International during the 1st quarter worth $35,000. Ball & Co Wealth Management Inc. bought a new position in Philip Morris International during the 4th quarter worth $36,000. Ameriflex Group Inc. bought a new position in Philip Morris International during the 4th quarter worth $36,000. Finally, Inlight Wealth Management LLC bought a new position in Philip Morris International during the 1st quarter worth $38,000. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Performance

Shares of Philip Morris International stock traded up $2.46 during mid-day trading on Wednesday, hitting $183.38. 5,381,168 shares of the stock were exchanged, compared to its average volume of 5,645,032. Philip Morris International Inc. has a 12 month low of $104.84 and a 12 month high of $186.69. The company has a 50-day simple moving average of $178.33 and a 200 day simple moving average of $157.57. The company has a market capitalization of $285.43 billion, a P/E ratio of 37.81, a P/E/G ratio of 2.61 and a beta of 0.51.

Philip Morris International (NYSE:PM - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $9.10 billion. During the same quarter last year, the firm earned $1.50 EPS. The company's quarterly revenue was up 5.8% compared to the same quarter last year. Analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were issued a $1.35 dividend. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.94%. Philip Morris International's dividend payout ratio (DPR) is presently 111.34%.

Wall Street Analyst Weigh In

PM has been the subject of several analyst reports. UBS Group set a $181.00 target price on Philip Morris International and gave the stock a "neutral" rating in a research report on Monday. Barclays raised their target price on Philip Morris International from $220.00 to $225.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Citigroup raised their target price on Philip Morris International from $188.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Jefferies Financial Group started coverage on Philip Morris International in a report on Wednesday, July 9th. They set a "buy" rating and a $220.00 price target for the company. Finally, Stifel Nicolaus increased their price target on Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, Philip Morris International currently has an average rating of "Moderate Buy" and a consensus target price of $186.73.

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.