Philip Morris International Inc. $PM Shares Acquired by DekaBank Deutsche Girozentrale

Key Points

• DekaBank Deutsche Girozentrale increased its stake in Philip Morris International Inc. by 6.7%, acquiring a total of 2,517,673 shares, which represents 0.8% of its holdings.
• Philip Morris recently announced an increase in its quarterly dividend, raising it from $1.35 to $1.47, with an annualized yield of 3.7%.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Philip Morris, with an average target price of $195.44 per share.

DekaBank Deutsche Girozentrale increased its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 6.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,517,673 shares of the company's stock after buying an additional 158,445 shares during the quarter. Philip Morris International comprises approximately 0.8% of DekaBank Deutsche Girozentrale's holdings, making the stock its 19th largest position. DekaBank Deutsche Girozentrale owned approximately 0.16% of Philip Morris International worth $457,511,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PM. PFS Partners LLC lifted its holdings in shares of Philip Morris International by 24.8% during the second quarter. PFS Partners LLC now owns 292 shares of the company's stock valued at $53,000 after purchasing an additional 58 shares during the last quarter. Perigon Wealth Management LLC lifted its holdings in shares of Philip Morris International by 0.4% during the first quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company's stock valued at $2,236,000 after purchasing an additional 60 shares during the last quarter. TBH Global Asset Management LLC lifted its holdings in shares of Philip Morris International by 0.9% during the first quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company's stock valued at $1,100,000 after purchasing an additional 61 shares during the last quarter. Uncommon Cents Investing LLC lifted its holdings in shares of Philip Morris International by 1.1% during the second quarter. Uncommon Cents Investing LLC now owns 5,666 shares of the company's stock valued at $1,032,000 after purchasing an additional 61 shares during the last quarter. Finally, NFP Retirement Inc. lifted its holdings in shares of Philip Morris International by 2.5% during the first quarter. NFP Retirement Inc. now owns 2,589 shares of the company's stock valued at $411,000 after purchasing an additional 62 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

Philip Morris International Trading Up 1.3%

NYSE:PM opened at $158.08 on Monday. The firm has a market capitalization of $246.06 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 2.31 and a beta of 0.46. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69. The business's fifty day moving average price is $163.40 and its 200 day moving average price is $168.86.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%.The firm had revenue of $8.12 billion for the quarter. Equities analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, October 3rd. This is an increase from Philip Morris International's previous quarterly dividend of $1.35. Philip Morris International's payout ratio is currently 111.79%.

Wall Street Analysts Forecast Growth

PM has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. KGI Securities initiated coverage on Philip Morris International in a report on Monday, August 4th. They set an "outperform" rating for the company. UBS Group reduced their target price on Philip Morris International from $177.00 to $166.00 and set a "neutral" rating for the company in a report on Friday, September 5th. Barclays reduced their target price on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $195.00 target price on shares of Philip Morris International in a report on Wednesday, July 23rd. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $195.44.

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.

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