Philip Morris International Inc. (NYSE:PM) is Perpetual Ltd's 7th Largest Position

Perpetual Ltd reduced its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 15.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,281,005 shares of the company's stock after selling 235,404 shares during the period. Philip Morris International accounts for 2.5% of Perpetual Ltd's investment portfolio, making the stock its 7th biggest holding. Perpetual Ltd owned 0.08% of Philip Morris International worth $203,334,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. PDS Planning Inc increased its holdings in Philip Morris International by 25.7% in the first quarter. PDS Planning Inc now owns 4,983 shares of the company's stock worth $791,000 after buying an additional 1,020 shares during the last quarter. Chung Wu Investment Group LLC bought a new stake in Philip Morris International in the first quarter worth approximately $254,000. KG&L Capital Management LLC increased its stake in shares of Philip Morris International by 14.8% during the 1st quarter. KG&L Capital Management LLC now owns 5,183 shares of the company's stock worth $823,000 after purchasing an additional 669 shares during the last quarter. KPP Advisory Services LLC increased its stake in shares of Philip Morris International by 11.6% during the 1st quarter. KPP Advisory Services LLC now owns 3,455 shares of the company's stock worth $548,000 after purchasing an additional 359 shares during the last quarter. Finally, Oak Hill Wealth Advisors LLC lifted its stake in shares of Philip Morris International by 18.4% in the 1st quarter. Oak Hill Wealth Advisors LLC now owns 11,325 shares of the company's stock valued at $1,798,000 after purchasing an additional 1,762 shares during the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PM has been the topic of several analyst reports. Stifel Nicolaus increased their target price on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Needham & Company LLC began coverage on Philip Morris International in a report on Thursday, May 22nd. They set a "buy" rating on the stock. UBS Group upgraded Philip Morris International from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $130.00 to $170.00 in a report on Friday, April 25th. Citigroup upped their target price on Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. Finally, Barclays reissued an "overweight" rating and issued a $220.00 price target (up previously from $205.00) on shares of Philip Morris International in a research report on Friday, June 13th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Philip Morris International currently has a consensus rating of "Moderate Buy" and an average target price of $176.80.

Philip Morris International Stock Up 0.6%

Shares of PM opened at $180.61 on Friday. The stock's 50-day moving average price is $175.60 and its 200 day moving average price is $152.43. The firm has a market capitalization of $281.13 billion, a price-to-earnings ratio of 37.24, a P/E/G ratio of 2.60 and a beta of 0.52. Philip Morris International Inc. has a 12-month low of $100.80 and a 12-month high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.61 by $0.08. The business had revenue of $9.30 billion for 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%. Philip Morris International's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.50 earnings per share. Equities research analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be paid a $1.35 dividend. The ex-dividend date is Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a yield of 2.99%. Philip Morris International's payout ratio is currently 111.34%.

Philip Morris International 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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