Bessemer Group Inc. Cuts Stock Position in Philip Morris International Inc. (NYSE:PM)

Bessemer Group Inc. decreased its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,373,293 shares of the company's stock after selling 70,854 shares during the quarter. Bessemer Group Inc. owned 0.09% of Philip Morris International worth $217,982,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PM. GQG Partners LLC boosted its holdings in Philip Morris International by 14.3% in the fourth quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock valued at $5,866,678,000 after purchasing an additional 6,092,558 shares during the period. GAMMA Investing LLC boosted its stake in shares of Philip Morris International by 19,986.5% in the 1st quarter. GAMMA Investing LLC now owns 4,486,928 shares of the company's stock valued at $712,210,000 after buying an additional 4,464,590 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Philip Morris International during the fourth quarter worth approximately $522,214,000. Kovitz Investment Group Partners LLC raised its holdings in Philip Morris International by 372.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,453,285 shares of the company's stock valued at $656,303,000 after acquiring an additional 4,298,530 shares in the last quarter. Finally, Capital World Investors lifted its stake in Philip Morris International by 3.6% in the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company's stock worth $14,752,926,000 after acquiring an additional 4,216,586 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

Analyst Upgrades and Downgrades

PM has been the subject of several recent analyst reports. Needham & Company LLC started coverage on Philip Morris International in a research note on Thursday, May 22nd. They set a "buy" rating for the company. Argus raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. Morgan Stanley reiterated an "overweight" rating and set a $182.00 price target (up from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Wall Street Zen upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Finally, UBS Group raised Philip Morris International from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $130.00 to $170.00 in a research report on Friday, April 25th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $176.80.

Philip Morris International Stock Performance

PM stock traded up $1.01 on Thursday, reaching $180.61. The company had a trading volume of 5,801,809 shares, compared to its average volume of 5,610,718. The company has a market cap of $281.13 billion, a P/E ratio of 37.24, a PEG ratio of 2.60 and a beta of 0.52. Philip Morris International Inc. has a 1 year low of $100.80 and a 1 year high of $186.69. The company's fifty day moving average is $175.25 and its 200 day moving average is $152.07.

Philip Morris International (NYSE:PM - Get Free Report) last released its earnings results 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. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same period in the prior year, the firm earned $1.50 EPS. The firm's quarterly revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be paid a dividend of $1.35 per share. The ex-dividend date is Friday, June 27th. This represents a $5.40 annualized dividend and a yield of 2.99%. Philip Morris International's dividend payout ratio is presently 111.34%.

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.