Oldfield Partners LLP Sells 3,400 Shares of Philip Morris International Inc. (NYSE:PM)

Oldfield Partners LLP lowered its stake in Philip Morris International Inc. (NYSE:PM) by 20.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,200 shares of the company’s stock after selling 3,400 shares during the quarter. Philip Morris International comprises 0.2% of Oldfield Partners LLP’s portfolio, making the stock its 18th biggest holding. Oldfield Partners LLP’s holdings in Philip Morris International were worth $1,289,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Morgan Stanley raised its stake in Philip Morris International by 1.0% during the 4th quarter. Morgan Stanley now owns 43,512,330 shares of the company’s stock valued at $4,403,883,000 after purchasing an additional 411,358 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Philip Morris International by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,959,139 shares of the company’s stock valued at $3,399,777,000 after purchasing an additional 1,106,408 shares during the period. Geode Capital Management LLC raised its stake in Philip Morris International by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 30,296,422 shares of the company’s stock valued at $3,061,665,000 after purchasing an additional 449,971 shares during the period. Wellington Management Group LLP raised its stake in Philip Morris International by 5.4% during the 1st quarter. Wellington Management Group LLP now owns 21,448,722 shares of the company’s stock valued at $2,085,888,000 after purchasing an additional 1,099,430 shares during the period. Finally, FMR LLC raised its stake in Philip Morris International by 8.8% during the 1st quarter. FMR LLC now owns 16,211,020 shares of the company’s stock valued at $1,576,522,000 after purchasing an additional 1,315,656 shares during the period. Institutional investors own 79.70% of the company’s stock.

Philip Morris International Trading Down 0.3 %

Shares of PM traded down $0.28 during trading hours on Tuesday, hitting $96.68. The company had a trading volume of 740,077 shares, compared to its average volume of 4,200,037. The company has a market capitalization of $150.08 billion, a PE ratio of 18.75, a price-to-earnings-growth ratio of 2.01 and a beta of 0.71. Philip Morris International Inc. has a one year low of $82.85 and a one year high of $105.62. The company’s fifty day moving average price is $96.49 and its two-hundred day moving average price is $96.05.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, July 20th. The company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.10. Philip Morris International had a negative return on equity of 127.84% and a net margin of 11.63%. The company had revenue of $8.97 billion during the quarter, compared to analysts’ expectations of $8.76 billion. During the same period last year, the business posted $1.48 earnings per share. The firm’s revenue was up 14.5% compared to the same quarter last year. Analysts forecast that Philip Morris International Inc. will post 6.19 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 Thursday, October 12th. Shareholders of record on Wednesday, September 27th will be paid a $1.30 dividend. The ex-dividend date is Tuesday, September 26th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.27. This represents a $5.20 dividend on an annualized basis and a yield of 5.38%. Philip Morris International’s dividend payout ratio (DPR) is 98.26%.

Wall Street Analysts Forecast Growth

PM has been the subject of several research analyst reports. Citigroup upgraded Philip Morris International from a “neutral” rating to a “buy” rating and raised their price target for the company from $109.00 to $117.00 in a report on Tuesday, June 20th. 22nd Century Group restated a “reiterates” rating on shares of Philip Morris International in a report on Tuesday, June 27th. StockNews.com initiated coverage on Philip Morris International in a report on Thursday, August 17th. They set a “hold” rating for the company. Finally, Jefferies Financial Group cut their price target on Philip Morris International from $113.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.70.

Philip Morris International Profile

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.