Boston Partners Has $990.27 Million Position in Philip Morris International Inc. (NYSE:PM)

Key Points

• Boston Partners increased its stake in Philip Morris International by 0.3%, now holding approximately 6.2 million shares, which constitutes 1.2% of its investment portfolio.
• Philip Morris reported a quarterly earnings per share (EPS) of $1.91, exceeding analyst expectations of $1.86, with revenue reaching $10.14 billion during the same period.
• The company declared a quarterly dividend of $1.35 per share, resulting in an annualized dividend yield of 3.2% and a payout ratio of 102.66%.

Boston Partners lifted its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 0.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,227,769 shares of the company's stock after acquiring an additional 21,268 shares during the quarter. Philip Morris International accounts for 1.2% of Boston Partners' portfolio, making the stock its 10th largest holding. Boston Partners owned 0.40% of Philip Morris International worth $990,265,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Nuveen LLC acquired a new position in Philip Morris International during the first quarter worth $1,712,994,000. GAMMA Investing LLC increased its position in 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 worth $712,210,000 after buying an additional 4,464,590 shares during the last quarter. Kovitz Investment Group Partners LLC increased its position in Philip Morris International by 372.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,453,285 shares of the company's stock worth $656,303,000 after buying an additional 4,298,530 shares during the last quarter. Capital World Investors increased its position in Philip Morris International by 3.6% during the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company's stock worth $14,752,926,000 after buying an additional 4,216,586 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Philip Morris International by 57.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company's stock worth $1,554,686,000 after buying an additional 3,575,158 shares during the last quarter. 78.63% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PM shares. UBS Group increased their target price on shares of Philip Morris International from $170.00 to $181.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Barclays lowered their target price on shares of Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. JPMorgan Chase & Co. increased their target price on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Stifel Nicolaus raised their price target on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Finally, Jefferies Financial Group assumed coverage on Philip Morris International in a research report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price target on the stock. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $186.27.

Philip Morris International Trading Down 0.4%

PM stock traded down $0.66 during trading on Thursday, reaching $165.22. 3,294,940 shares of the stock were exchanged, compared to its average volume of 7,054,380. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69. The company has a market capitalization of $257.18 billion, a P/E ratio of 31.41, a price-to-earnings-growth ratio of 2.41 and a beta of 0.48. The stock has a 50 day simple moving average of $175.15 and a 200-day simple moving average of $164.30.

Philip Morris International (NYSE:PM - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.91 earnings per share for the quarter, topping 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 business had revenue of $10.14 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same period last year, the business earned $1.59 earnings per share. The firm's revenue for the quarter 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 year.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were given a dividend of $1.35 per share. The ex-dividend date of this dividend 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 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.