Neuberger Berman Group LLC Acquires 202,774 Shares of Philip Morris International Inc. (NYSE:PM)

Neuberger Berman Group LLC raised its position in Philip Morris International Inc. (NYSE:PMGet Rating) by 19.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,259,431 shares of the company’s stock after purchasing an additional 202,774 shares during the period. Neuberger Berman Group LLC owned 0.08% of Philip Morris International worth $118,406,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Tcwp LLC acquired a new position in Philip Morris International during the first quarter worth $26,000. Bivin & Associates Inc. bought a new position in Philip Morris International during the fourth quarter valued at about $27,000. Sandy Cove Advisors LLC bought a new position in Philip Morris International during the first quarter worth about $28,000. American National Bank boosted its position in Philip Morris International by 89.1% during the first quarter. American National Bank now owns 312 shares of the company’s stock worth $29,000 after purchasing an additional 147 shares during the period. Finally, Covestor Ltd bought a new position in Philip Morris International during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 76.00% of the company’s stock.

Philip Morris International Price Performance

Shares of PM opened at $95.56 on Friday. The firm’s 50 day simple moving average is $96.11 and its 200 day simple moving average is $98.50. The company has a market capitalization of $148.13 billion, a P/E ratio of 16.42, a P/E/G ratio of 3.61 and a beta of 0.62. Philip Morris International Inc. has a 1-year low of $85.64 and a 1-year high of $112.48.

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

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 12th. Shareholders of record on Wednesday, September 28th will be given a dividend of $1.27 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.25. This represents a $5.08 dividend on an annualized basis and a yield of 5.32%. The ex-dividend date is Tuesday, September 27th. Philip Morris International’s dividend payout ratio (DPR) is presently 85.91%.

Wall Street Analyst Weigh In

PM has been the subject of a number of research reports. Jefferies Financial Group cut their target price on shares of Philip Morris International from $107.00 to $99.00 in a research report on Tuesday, July 19th. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Tuesday, July 26th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and an average target price of $109.13.

Philip Morris International Company Profile

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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.

See Also

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

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