Dimensional Fund Advisors LP Purchases 83,624 Shares of Philip Morris International Inc. $PM

Key Points

• Dimensional Fund Advisors LP increased its stake in Philip Morris International Inc. by 2.7%, holding approximately 3.22 million shares, valued at $511.5 million as of its latest SEC filing.
• Philip Morris International's quarterly earnings showed an EPS of $1.91, surpassing estimates, with a revenue of $10.14 billion, though below expectations of $10.33 billion.
• The company recently announced a quarterly dividend of $1.35, translating to an annual yield of 3.2%, despite having a dividend payout ratio of 102.66%.

Dimensional Fund Advisors LP lifted its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 2.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,222,999 shares of the company's stock after acquiring an additional 83,624 shares during the period. Dimensional Fund Advisors LP owned 0.21% of Philip Morris International worth $511,499,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Philip Morris International in the 1st quarter worth approximately $34,000. Pacifica Partners Inc. increased its holdings in shares of Philip Morris International by 115.0% during the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after acquiring an additional 115 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new position in shares of Philip Morris International in the 1st quarter worth about $35,000. Inlight Wealth Management LLC bought a new position in Philip Morris International in the 1st quarter worth about $38,000. Finally, Pandora Wealth Inc. purchased a new stake in Philip Morris International during the 1st quarter valued at about $42,000. Institutional investors own 78.63% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PM. Bank of America lifted their target price on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Wall Street Zen lowered shares of Philip Morris International from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Morgan Stanley reiterated an "overweight" rating and set a $182.00 target price (up from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Citigroup reissued an "overweight" rating on shares of Philip Morris International in a report on Tuesday, July 22nd. Finally, Stifel Nicolaus boosted their price target on Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, Philip Morris International currently has an average rating of "Moderate Buy" and a consensus target price of $186.27.

Philip Morris International Trading Up 0.1%

PM stock traded up $0.18 during trading on Monday, reaching $166.37. The stock had a trading volume of 3,769,562 shares, compared to its average volume of 6,840,928. The firm has a market cap of $258.97 billion, a PE ratio of 31.63, a PEG ratio of 2.42 and a beta of 0.48. The stock's 50 day moving average is $174.55 and its two-hundred day moving average is $165.29. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69.

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

Philip Morris International Announces Dividend

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

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.