Truist Financial Corp Has $390.48 Million Holdings in Philip Morris International Inc. $PM

Truist Financial Corp raised its position in Philip Morris International Inc. (NYSE:PM) by 1.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,407,416 shares of the company’s stock after buying an additional 37,767 shares during the quarter. Truist Financial Corp’s holdings in Philip Morris International were worth $390,483,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Second Line Capital LLC lifted its stake in Philip Morris International by 4.8% during the second quarter. Second Line Capital LLC now owns 1,338 shares of the company’s stock worth $245,000 after purchasing an additional 61 shares during the last quarter. Meridian Wealth Partners LLC boosted its stake in Philip Morris International by 3.1% in the second quarter. Meridian Wealth Partners LLC now owns 2,060 shares of the company’s stock valued at $375,000 after buying an additional 62 shares in the last quarter. Bernardo Wealth Planning LLC boosted its stake in Philip Morris International by 1.8% in the second quarter. Bernardo Wealth Planning LLC now owns 3,584 shares of the company’s stock valued at $653,000 after buying an additional 62 shares in the last quarter. Raiffeisen Bank International AG grew its position in Philip Morris International by 1.4% in the second quarter. Raiffeisen Bank International AG now owns 4,471 shares of the company’s stock valued at $803,000 after acquiring an additional 63 shares during the last quarter. Finally, Nia Impact Advisors LLC raised its stake in Philip Morris International by 4.2% during the second quarter. Nia Impact Advisors LLC now owns 1,577 shares of the company’s stock worth $287,000 after acquiring an additional 63 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PM. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research note on Thursday, January 22nd. Stifel Nicolaus set a $180.00 target price on shares of Philip Morris International in a research report on Tuesday, October 21st. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Barclays dropped their price target on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday, November 17th. Finally, Jefferies Financial Group lowered Philip Morris International from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $220.00 to $180.00 in a research report on Tuesday, January 20th. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $184.56.

Philip Morris International Price Performance

Philip Morris International stock opened at $179.23 on Wednesday. The stock’s 50 day moving average is $160.14 and its 200 day moving average is $161.33. Philip Morris International Inc. has a one year low of $128.25 and a one year high of $186.69. The firm has a market cap of $278.99 billion, a P/E ratio of 32.47, a P/E/G ratio of 1.89 and a beta of 0.40.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Friday, December 26th were paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, December 26th. Philip Morris International’s dividend payout ratio (DPR) is currently 106.52%.

Philip Morris International Company 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.