Northern Trust Corp Sells 60,472 Shares of Philip Morris International Inc. $PM

Key Points

• Northern Trust Corp has reduced its stake in Philip Morris International by selling 60,472 shares, now owning approximately 0.87% of the company's total shares, valued at $2.15 billion.
• Other significant investors, including Goldman Sachs Group and Kovitz Investment Group, have increased their holdings in Philip Morris, reflecting strong institutional interest in the company.
• Philip Morris International recently announced a quarterly dividend of $1.35, representing an annualized dividend yield of 3.2%, despite a high dividend payout ratio of 102.66%.

Northern Trust Corp reduced its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 0.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,569,705 shares of the company's stock after selling 60,472 shares during the period. Northern Trust Corp owned about 0.87% of Philip Morris International worth $2,153,919,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PM. Nuveen LLC acquired a new stake in Philip Morris International in the 1st quarter valued at about $1,712,994,000. GAMMA Investing LLC grew its stake in shares of Philip Morris International by 19,986.5% during the first quarter. GAMMA Investing LLC now owns 4,486,928 shares of the company's stock valued at $712,210,000 after purchasing an additional 4,464,590 shares during the last quarter. Kovitz Investment Group Partners LLC increased its holdings 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 valued at $656,303,000 after purchasing an additional 4,298,530 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Philip Morris International by 57.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company's stock valued at $1,554,686,000 after purchasing an additional 3,575,158 shares in the last quarter. Finally, Lone Pine Capital LLC raised its position in Philip Morris International by 44.4% in the 4th quarter. Lone Pine Capital LLC now owns 6,468,372 shares of the company's stock worth $778,469,000 after purchasing an additional 1,987,716 shares during the last quarter. 78.63% of the stock is owned by institutional investors.

Philip Morris International Trading Up 0.6%

Shares of NYSE PM opened at $166.19 on Monday. The company has a fifty day moving average price of $174.84 and a 200 day moving average price of $165.04. The firm has a market cap of $258.69 billion, a PE ratio of 31.60, a PEG ratio of 2.42 and a beta of 0.48. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.86 by $0.05. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The business had revenue of $10.14 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the previous year, the firm posted $1.59 earnings per share. The firm's revenue for the quarter was up 7.1% on a year-over-year basis. Equities research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were issued a $1.35 dividend. The ex-dividend date was Friday, June 27th. This represents a $5.40 annualized dividend and a dividend yield of 3.2%. Philip Morris International's dividend payout ratio (DPR) is presently 102.66%.

Analysts Set New Price Targets

PM has been the topic of a number of recent research reports. Wall Street Zen lowered Philip Morris International from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Barclays decreased their price target 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 began coverage on Philip Morris International in a report on Monday, August 4th. They set an "outperform" rating for the company. Jefferies Financial Group began coverage on shares of Philip Morris International in a research note on Wednesday, July 9th. They set a "buy" rating and a $220.00 price target for the company. Finally, Citigroup restated an "overweight" rating on shares of Philip Morris International in a research report on Tuesday, July 22nd. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Philip Morris International presently has an average rating of "Moderate Buy" and an average price target of $186.27.

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.

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