Westpac Banking Corp Buys 10,143 Shares of Philip Morris International Inc. (NYSE:PM)

Key Points

• Westpac Banking Corp increased its holdings in Philip Morris International by 167.7% during the first quarter, totaling $2.57 million, with 16,192 shares owned.
• Philip Morris recently reported earnings of $1.91 per share for the last quarter, surpassing estimates, with a revenue of $10.14 billion, slightly missing analysts' expectations.
• The company announced a quarterly dividend of $1.35, which translates to an annual yield of 3.2%, despite a high dividend payout ratio of 102.66%.

Westpac Banking Corp raised its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 167.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,192 shares of the company's stock after buying an additional 10,143 shares during the quarter. Westpac Banking Corp's holdings in Philip Morris International were worth $2,570,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Philip Morris International by 0.9% during the first quarter. Vanguard Group Inc. now owns 140,621,675 shares of the company's stock valued at $22,320,878,000 after purchasing an additional 1,189,283 shares in the last quarter. Capital World Investors boosted its position in shares of Philip Morris International by 3.6% during the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company's stock valued at $14,752,926,000 after purchasing an additional 4,216,586 shares in the last quarter. Northern Trust Corp boosted its position in shares of Philip Morris International by 11.0% during the fourth quarter. Northern Trust Corp now owns 13,630,177 shares of the company's stock valued at $1,640,392,000 after purchasing an additional 1,347,503 shares in the last quarter. Nuveen LLC bought a new stake in shares of Philip Morris International during the first quarter valued at approximately $1,712,994,000. Finally, Fayez Sarofim & Co boosted its position in shares of Philip Morris International by 7.1% during the fourth quarter. Fayez Sarofim & Co now owns 10,313,383 shares of the company's stock valued at $1,241,216,000 after purchasing an additional 685,431 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Price Performance

Philip Morris International stock traded down $0.66 during mid-day trading on Thursday, reaching $165.22. 3,294,940 shares of the stock traded hands, compared to its average volume of 7,054,380. The stock has a market capitalization of $257.18 billion, a PE ratio of 31.41, a price-to-earnings-growth ratio of 2.41 and a beta of 0.48. Philip Morris International Inc. has a 12-month low of $116.12 and a 12-month high of $186.69. The business's 50-day moving average is $175.15 and its 200-day moving average is $164.30.

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

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were issued a dividend of $1.35 per share. 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 payout ratio is currently 102.66%.

Wall Street Analysts Forecast Growth

PM has been the topic of several research reports. Morgan Stanley restated an "overweight" rating and set a $182.00 price target (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Stifel Nicolaus lifted their price target on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Bank of America lifted their price objective on Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Wall Street Zen cut Philip Morris International from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, JPMorgan Chase & Co. lifted their price objective on Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $186.27.

Philip Morris International 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.