Philip Morris International Inc. $PM Shares Bought by Eurizon Capital SGR S.p.A.

Key Points

• Eurizon Capital SGR increased its Philip Morris stake by 30% in the third quarter, buying 259,063 shares to reach 1.12 million shares valued at about $214.8 million.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $213.90; ratings included eight Buys, three Holds and one Strong Buy.
• Philip Morris beat quarterly earnings and revenue expectations, reporting EPS of $2.36 and revenue of $11.44 billion. It also raised its quarterly dividend from $1.47 to $1.60 per share.

Eurizon Capital SGR S.p.A. lifted its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 30.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,121,763 shares of the company's stock after buying an additional 259,063 shares during the quarter. Eurizon Capital SGR S.p.A. owned about 0.07% of Philip Morris International worth $214,791,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Silver Grove Financial Group Inc. raised its holdings in Philip Morris International by 3.0% during the 3rd quarter. Silver Grove Financial Group Inc. now owns 1,896 shares of the company's stock valued at $362,000 after acquiring an additional 55 shares during the period. Financial Network Wealth Advisors LLC lifted its position in shares of Philip Morris International by 9.9% during the third quarter. Financial Network Wealth Advisors LLC now owns 620 shares of the company's stock worth $118,000 after acquiring an additional 56 shares in the last quarter. Hughes Financial Services LLC boosted its holdings in shares of Philip Morris International by 8.4% in the third quarter. Hughes Financial Services LLC now owns 719 shares of the company's stock worth $150,000 after acquiring an additional 56 shares during the period. Platt Wealth Management LLC boosted its holdings in shares of Philip Morris International by 2.1% in the second quarter. Platt Wealth Management LLC now owns 2,833 shares of the company's stock worth $512,000 after acquiring an additional 58 shares during the period. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. boosted its holdings in shares of Philip Morris International by 15.9% in the third quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 437 shares of the company's stock worth $83,000 after acquiring an additional 60 shares during the period. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PM. JPMorgan Chase & Co. initiated coverage on Philip Morris International in a research report on Tuesday. They issued a "neutral" rating and a $200.00 price target for the company. Morgan Stanley increased their price objective on Philip Morris International from $200.00 to $215.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. BTIG Research set a $221.00 target price on Philip Morris International and gave the stock a "buy" rating in a research note on Friday, July 24th. Stifel Nicolaus lifted their target price on Philip Morris International from $205.00 to $232.00 and gave the company a "buy" rating in a report on Tuesday, November 3rd. Finally, UBS Group lifted their target price on Philip Morris International from $193.00 to $201.00 and gave the company a "neutral" rating in a report on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Philip Morris International currently has an average rating of "Moderate Buy" and a consensus target price of $213.90.

Philip Morris International Trading Up 0.5%

Philip Morris International stock opened at $197.42 on Friday. The firm's 50 day simple moving average is $196.09 and its 200 day simple moving average is $183.28. The firm has a market capitalization of $307.71 billion, a PE ratio of 28.82, a price-to-earnings-growth ratio of 2.63 and a beta of 0.34. Philip Morris International Inc. has a 1-year low of $146.35 and a 1-year high of $214.35.

Philip Morris International (NYSE:PM - Get Free Report) last posted its earnings results on Wednesday, October 21st. The company reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.06. Philip Morris International had a net margin of 10.73% and a negative return on equity of 183.96%. The business had revenue of $11.44 billion for the quarter, compared to analysts' expectations of $11.32 billion. During the same period in the prior year, the company posted $2.24 EPS. The business's revenue for the quarter was up 5.5% compared to the same quarter last year. Research analysts forecast that Philip Morris International Inc. will post 8.32 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Investors of record on Friday, October 2nd were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.2%. This is a boost from Philip Morris International's previous quarterly dividend of $1.47. The ex-dividend date was Friday, October 2nd. Philip Morris International's dividend payout ratio (DPR) is 93.43%.

Philip Morris International Company Profile

Philip Morris International is a global tobacco and nicotine company that develops, manufactures and sells cigarettes and smoke-free products. Its cigarette brands include Marlboro in markets outside the United States, along with other regional and international brands. The company's smoke-free portfolio includes IQOS heated tobacco products, ZYN nicotine pouches and VEEV e-vapor products. Philip Morris International sells its products in markets around the world, with availability varying by country and subject to local regulations.

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