OVERSEA CHINESE BANKING Corp Ltd Grows Holdings in Philip Morris International Inc. (NYSE:PM)

Key Points

• Oversea Chinese Banking Corp Ltd increased its holdings in Philip Morris International Inc. by 123.9% during the first quarter, owning 5,345 shares valued at approximately $848,000.
• Several institutional investors, including GAMMA Investing LLC and Kovitz Investment Group Partners LLC, significantly expanded their positions in Philip Morris during the first quarter, contributing to hedge funds holding 78.63% of the stock.
• Analysts have a consensus rating of "Moderate Buy" on Philip Morris International, with price targets from various brokerages ranging from $181.00 to $200.00.

OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 123.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,345 shares of the company's stock after buying an additional 2,958 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Philip Morris International were worth $848,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. GAMMA Investing LLC grew its position in Philip Morris International by 19,986.5% during the 1st 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 grew its position in Philip Morris International by 372.2% during the 4th 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 during the last quarter. Capital World Investors grew its position in Philip Morris International by 3.6% during the 4th quarter. Capital World Investors now owns 122,584,210 shares of the company's stock valued at $14,752,926,000 after purchasing an additional 4,216,586 shares during the last quarter. Lone Pine Capital LLC boosted its holdings in shares of Philip Morris International by 44.4% during the 4th quarter. Lone Pine Capital LLC now owns 6,468,372 shares of the company's stock valued at $778,469,000 after acquiring an additional 1,987,716 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Philip Morris International by 22.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,018,628 shares of the company's stock valued at $1,431,527,000 after acquiring an additional 1,635,636 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PM. Morgan Stanley reaffirmed an "overweight" rating and set a $182.00 price target (up previously from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Bank of America raised their price target on shares of Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. JPMorgan Chase & Co. raised their price target on shares of Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Wall Street Zen raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a report on Sunday, July 20th. Finally, UBS Group raised their price target on shares of Philip Morris International from $170.00 to $181.00 and gave the company a "neutral" rating in a report on Monday, July 14th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $186.27.

Philip Morris International Trading Down 0.7%

PM opened at $162.96 on Monday. The company has a market cap of $253.66 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 2.37 and a beta of 0.48. The company's 50 day moving average is $177.55 and its 200 day moving average is $162.20. Philip Morris International Inc. has a 12-month low of $113.15 and a 12-month high of $186.69.

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, topping analysts' consensus estimates of $1.86 by $0.05. The company had revenue of $10.14 billion for the quarter, compared to the consensus estimate 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 revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.59 earnings per share. As a group, 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 dividend of $1.35 per share. The ex-dividend date was Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a yield of 3.3%. Philip Morris International's dividend payout ratio (DPR) is presently 102.66%.

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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