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

OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 123.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,345 shares of the company's stock after purchasing 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 filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Apollon Wealth Management LLC raised its position in Philip Morris International by 2.7% in the 1st quarter. Apollon Wealth Management LLC now owns 54,376 shares of the company's stock valued at $8,631,000 after purchasing an additional 1,452 shares in the last quarter. Catalyst Financial Partners LLC raised its holdings in Philip Morris International by 1.1% in the first quarter. Catalyst Financial Partners LLC now owns 14,317 shares of the company's stock valued at $2,273,000 after acquiring an additional 151 shares in the last quarter. Signaturefd LLC lifted its stake in Philip Morris International by 2.9% in the first quarter. Signaturefd LLC now owns 26,846 shares of the company's stock worth $4,261,000 after acquiring an additional 767 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its holdings in Philip Morris International by 1.9% during the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 8,720 shares of the company's stock worth $1,384,000 after acquiring an additional 160 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Philip Morris International in the 1st quarter valued at approximately $2,555,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Stock Performance

NYSE PM traded up $2.46 during trading on Wednesday, reaching $183.38. The company's stock had a trading volume of 5,382,296 shares, compared to its average volume of 5,645,035. Philip Morris International Inc. has a twelve month low of $104.84 and a twelve month high of $186.69. The firm has a market cap of $285.43 billion, a price-to-earnings ratio of 37.81, a P/E/G ratio of 2.61 and a beta of 0.51. The business's fifty day moving average price is $178.33 and its 200-day moving average price is $157.57.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.08. The company had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $9.10 billion. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $1.50 EPS. As a group, sell-side analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

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

Wall Street Analysts Forecast Growth

PM has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Philip Morris International from a "buy" rating to a "hold" rating in a research note on Saturday. UBS Group set a $181.00 price objective on Philip Morris International and gave the company a "neutral" rating in a report on Monday. Barclays boosted their target price on Philip Morris International from $220.00 to $225.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Morgan Stanley reiterated an "overweight" rating and issued a $182.00 price target (up from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Finally, Jefferies Financial Group initiated coverage on shares of Philip Morris International in a research report on Wednesday, July 9th. They set a "buy" rating and a $220.00 price objective for the company. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Philip Morris International presently has a consensus rating of "Moderate Buy" and an average price target of $186.73.

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.