Range Financial Group LLC Takes $1.30 Million Position in Philip Morris International Inc. (NYSE:PM)

Range Financial Group LLC bought a new stake in shares of Philip Morris International Inc. (NYSE:PMGet Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 13,832 shares of the company’s stock, valued at approximately $1,299,000.

A number of other institutional investors have also recently modified their holdings of PM. Vanguard Group Inc. lifted its position in shares of Philip Morris International by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 128,604,996 shares of the company’s stock worth $12,081,153,000 after buying an additional 1,977,553 shares during the last quarter. BlackRock Inc. lifted its position in shares of Philip Morris International by 2.6% during the 1st quarter. BlackRock Inc. now owns 96,511,777 shares of the company’s stock worth $9,066,315,000 after buying an additional 2,402,309 shares during the last quarter. State Street Corp lifted its position in shares of Philip Morris International by 4.3% during the 1st quarter. State Street Corp now owns 58,933,856 shares of the company’s stock worth $5,608,836,000 after buying an additional 2,428,740 shares during the last quarter. GQG Partners LLC lifted its position in shares of Philip Morris International by 108.1% during the 1st quarter. GQG Partners LLC now owns 29,966,855 shares of the company’s stock worth $2,814,872,000 after buying an additional 15,563,879 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Philip Morris International by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 27,333,383 shares of the company’s stock worth $2,590,702,000 after buying an additional 214,617 shares during the last quarter. 76.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Tuesday, July 26th. Jefferies Financial Group dropped their price objective on Philip Morris International from $107.00 to $99.00 in a research report on Tuesday, July 19th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $109.13.

Philip Morris International Stock Down 3.7 %

Shares of PM opened at $94.02 on Wednesday. Philip Morris International Inc. has a 12-month low of $85.64 and a 12-month high of $112.48. The business has a 50-day simple moving average of $96.15 and a two-hundred day simple moving average of $98.58. The stock has a market cap of $145.75 billion, a PE ratio of 16.15, a PEG ratio of 3.74 and a beta of 0.62.

Philip Morris International (NYSE:PMGet Rating) last issued its quarterly earnings results on Thursday, July 21st. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.22. The company had revenue of $7.83 billion during the quarter, compared to analysts’ expectations of $6.76 billion. Philip Morris International had a negative return on equity of 115.36% and a net margin of 11.05%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.57 earnings per share. On average, equities research analysts expect that Philip Morris International Inc. will post 5.99 EPS for the current year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Friday, July 1st were paid a $1.25 dividend. The ex-dividend date was Thursday, June 30th. This represents a $5.00 annualized dividend and a dividend yield of 5.32%. Philip Morris International’s payout ratio is 85.91%.

About Philip Morris International

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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 that are sold in markets outside the United States.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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