Sumitomo Mitsui DS Asset Management Company Ltd Purchases 27,718 Shares of Philip Morris International Inc. $PM

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Philip Morris International Inc. (NYSE:PM) by 8.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 354,466 shares of the company’s stock after purchasing an additional 27,718 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Philip Morris International were worth $57,494,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Corient Private Wealth LLC increased its holdings in shares of Philip Morris International by 1.2% during the second quarter. Corient Private Wealth LLC now owns 490,590 shares of the company’s stock worth $89,354,000 after buying an additional 5,681 shares in the last quarter. Westwood Holdings Group Inc. boosted its holdings in shares of Philip Morris International by 295.8% during the 2nd quarter. Westwood Holdings Group Inc. now owns 67,717 shares of the company’s stock valued at $12,333,000 after acquiring an additional 50,610 shares in the last quarter. Prudential Financial Inc. grew its position in Philip Morris International by 88.9% during the 2nd quarter. Prudential Financial Inc. now owns 2,138,118 shares of the company’s stock worth $389,415,000 after acquiring an additional 1,006,014 shares during the last quarter. Trek Financial LLC raised its position in Philip Morris International by 732.3% in the second quarter. Trek Financial LLC now owns 42,829 shares of the company’s stock valued at $7,801,000 after purchasing an additional 37,683 shares during the last quarter. Finally, Railway Pension Investments Ltd raised its position in Philip Morris International by 2.9% in the third quarter. Railway Pension Investments Ltd now owns 514,040 shares of the company’s stock valued at $83,377,000 after purchasing an additional 14,600 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Up 2.4%

Shares of NYSE PM opened at $162.61 on Friday. The company has a market capitalization of $253.13 billion, a PE ratio of 29.46, a P/E/G ratio of 1.71 and a beta of 0.40. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69. The firm has a fifty day simple moving average of $155.63 and a 200 day simple moving average of $162.29.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. The company had revenue of $8.12 billion during the quarter. As a group, 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Friday, December 26th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, December 26th. Philip Morris International’s dividend payout ratio (DPR) is currently 106.52%.

Wall Street Analyst Weigh In

PM has been the subject of several recent research reports. Wall Street Zen downgraded Philip Morris International from a “buy” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. decreased their price target on shares of Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. Stifel Nicolaus set a $180.00 price target on shares of Philip Morris International in a report on Tuesday, October 21st. The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $189.00.

Philip Morris International Profile

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.