Vanguard Personalized Indexing Management LLC Has $37.08 Million Stake in Philip Morris International Inc. $PM

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in Philip Morris International Inc. by 28.0%, holding 203,550 shares valued at approximately $37.08 million.
• The company has recently announced a quarterly dividend of $1.47 per share, reflecting a boost from the previous dividend and representing a 3.7% yield.
• Philip Morris International has received mixed ratings from analysts, with a consensus target price of $195.44 and 11 analysts rating it as a "Buy".

Vanguard Personalized Indexing Management LLC lifted its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 28.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 203,550 shares of the company's stock after acquiring an additional 44,473 shares during the quarter. Philip Morris International makes up approximately 0.4% of Vanguard Personalized Indexing Management LLC's portfolio, making the stock its 29th biggest position. Vanguard Personalized Indexing Management LLC's holdings in Philip Morris International were worth $37,081,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Abound Wealth Management raised its position in Philip Morris International by 566.7% during the 2nd quarter. Abound Wealth Management now owns 160 shares of the company's stock worth $29,000 after purchasing an additional 136 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new position in Philip Morris International during the 1st quarter worth $30,000. CBIZ Investment Advisory Services LLC raised its position in Philip Morris International by 405.0% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company's stock worth $32,000 after purchasing an additional 162 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new position in Philip Morris International during the 1st quarter worth $34,000. Finally, Redmont Wealth Advisors LLC bought a new position in Philip Morris International during the 1st quarter worth $35,000. Institutional investors and hedge funds own 78.63% of the company's stock.

Philip Morris International Trading Up 2.3%

PM stock opened at $160.51 on Friday. The stock has a 50-day moving average price of $164.24 and a 200-day moving average price of $168.77. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69. The firm has a market cap of $249.85 billion, a PE ratio of 30.52, a price-to-earnings-growth ratio of 2.34 and a beta of 0.46.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data 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 during the quarter. On average, 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. Stockholders of record on Friday, October 3rd will be paid a $1.47 dividend. The ex-dividend date is Friday, October 3rd. This represents a $5.88 annualized dividend and a dividend yield of 3.7%. This is a boost from Philip Morris International's previous quarterly dividend of $1.35. Philip Morris International's dividend payout ratio (DPR) is 111.79%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. KGI Securities assumed coverage on Philip Morris International in a research report on Monday, August 4th. They set an "outperform" rating for the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Philip Morris International in a research report on Wednesday. Wall Street Zen lowered Philip Morris International from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Jefferies Financial Group assumed coverage on Philip Morris International in a research report on Wednesday, July 9th. They set a "buy" rating and a $220.00 target price for the company. Finally, JPMorgan Chase & Co. raised their target price on Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Philip Morris International currently has an average rating of "Moderate Buy" and a consensus target price 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.

Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.