AQR Capital Management LLC Has $612.68 Million Stock Holdings in Philip Morris International Inc. $PM

AQR Capital Management LLC lifted its stake in Philip Morris International Inc. (NYSE:PM) by 12.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,379,196 shares of the company’s stock after purchasing an additional 376,980 shares during the quarter. Philip Morris International accounts for 0.5% of AQR Capital Management LLC’s portfolio, making the stock its 22nd largest position. AQR Capital Management LLC owned about 0.22% of Philip Morris International worth $612,682,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC purchased a new position in Philip Morris International in the second quarter valued at about $25,000. Traub Capital Management LLC acquired a new stake in shares of Philip Morris International during the 2nd quarter valued at about $25,000. Abound Wealth Management grew its stake in shares of Philip Morris International by 566.7% in the 2nd quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after buying an additional 136 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA acquired a new position in Philip Morris International in the first quarter worth approximately $30,000. Finally, Briaud Financial Planning Inc raised its position in Philip Morris International by 266.7% during the second quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock valued at $30,000 after acquiring an additional 120 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PM has been the topic of a number of analyst reports. Wall Street Zen raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, November 17th. Citigroup reiterated a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. UBS Group reduced their price objective on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research note on Friday, September 5th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Finally, Morgan Stanley set a $175.00 target price on shares of Philip Morris International and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $189.00.

Philip Morris International Price Performance

PM stock opened at $153.49 on Friday. The business has a fifty day moving average price of $153.62 and a 200 day moving average price of $165.35. Philip Morris International Inc. has a fifty-two week low of $116.12 and a fifty-two week high of $186.69. The stock has a market capitalization of $238.93 billion, a price-to-earnings ratio of 27.81, a P/E/G ratio of 1.80 and a beta of 0.42.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The company had revenue of $8.12 billion during the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%. On average, equities analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Friday, December 26th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, December 26th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.8%. Philip Morris International’s dividend payout ratio (DPR) is currently 106.52%.

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.