Vanguard Group Inc. Has $22.32 Billion Stake in Philip Morris International Inc. (NYSE:PM)

Key Points

• Vanguard Group Inc. has increased its stake in Philip Morris International Inc. by 0.9% to approximately 140.6 million shares, valuing the investment at over $22 billion.
• Philip Morris reported a Q2 EPS of $1.91, exceeding estimates, with revenue of $10.14 billion, though this was below analyst expectations of $10.33 billion.
• The company announced a quarterly dividend of $1.35 per share, translating to a 3.3% yield and a payout ratio of 102.66%.

Vanguard Group Inc. increased its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 0.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 140,621,675 shares of the company's stock after purchasing an additional 1,189,283 shares during the quarter. Vanguard Group Inc. owned approximately 9.03% of Philip Morris International worth $22,320,878,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PM. 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 valued at $14,752,926,000 after acquiring an additional 4,216,586 shares during the last quarter. Northern Trust Corp lifted its stake in Philip Morris International by 11.0% in the fourth quarter. Northern Trust Corp now owns 13,630,177 shares of the company's stock valued at $1,640,392,000 after acquiring an additional 1,347,503 shares during the last quarter. Fayez Sarofim & Co lifted its stake in Philip Morris International by 7.1% in the fourth quarter. Fayez Sarofim & Co now owns 10,313,383 shares of the company's stock valued at $1,241,216,000 after acquiring an additional 685,431 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Philip Morris International by 57.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company's stock valued at $1,554,686,000 after acquiring an additional 3,575,158 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Philip Morris International by 22.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,018,628 shares of the company's stock valued at $1,431,527,000 after acquiring an additional 1,635,636 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

Philip Morris International Stock Performance

NYSE:PM opened at $163.92 on Wednesday. Philip Morris International Inc. has a 52 week low of $113.20 and a 52 week high of $186.69. The firm has a market cap of $255.15 billion, a price-to-earnings ratio of 31.16, a P/E/G ratio of 2.37 and a beta of 0.48. The firm's 50-day simple moving average is $176.93 and its 200 day simple moving average is $162.49.

Philip Morris International (NYSE:PM - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.86 by $0.05. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The firm had revenue of $10.14 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same period last year, the firm earned $1.59 EPS. The business's quarterly revenue was up 7.1% compared to the same quarter last year. Sell-side analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International's dividend payout ratio (DPR) is currently 102.66%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Philip Morris International in a research report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price objective on the stock. Stifel Nicolaus increased their price objective on shares of Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. UBS Group increased their price objective on shares of Philip Morris International from $170.00 to $181.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Barclays dropped their price objective on shares of Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $195.00 price objective on shares of Philip Morris International in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, Philip Morris International has an average rating of "Moderate Buy" and a consensus price target of $186.27.

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.

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