Newport Trust Company LLC Has $78.68 Million Stock Position in Philip Morris International Inc. $PM

Newport Trust Company LLC lessened its holdings in Philip Morris International Inc. (NYSE:PM) by 1.9% during the third quarter, HoldingsChannel reports. The firm owned 485,078 shares of the company’s stock after selling 9,544 shares during the quarter. Newport Trust Company LLC’s holdings in Philip Morris International were worth $78,680,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Philip Morris International by 1.6% in the second quarter. Vanguard Group Inc. now owns 142,857,055 shares of the company’s stock valued at $26,018,555,000 after buying an additional 2,235,380 shares in the last quarter. State Street Corp lifted its holdings in shares of Philip Morris International by 1.6% in the second quarter. State Street Corp now owns 55,831,655 shares of the company’s stock worth $10,243,429,000 after acquiring an additional 871,165 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Philip Morris International by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 37,181,107 shares of the company’s stock valued at $6,760,346,000 after purchasing an additional 672,983 shares in the last quarter. WCM Investment Management LLC grew its holdings in shares of Philip Morris International by 24,968.0% during the 2nd quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock valued at $2,041,223,000 after purchasing an additional 11,230,626 shares during the last quarter. Finally, Fayez Sarofim & Co grew its holdings in shares of Philip Morris International by 7.9% during the 2nd quarter. Fayez Sarofim & Co now owns 10,676,908 shares of the company’s stock valued at $1,944,585,000 after purchasing an additional 782,536 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on PM. Stifel Nicolaus set a $180.00 price objective on shares of Philip Morris International in a research note on Tuesday, October 21st. Jefferies Financial Group downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating and lowered their price target for the stock from $220.00 to $180.00 in a report on Tuesday. Wall Street Zen downgraded Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research report on Thursday. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus price target of $184.56.

Philip Morris International Stock Performance

PM stock opened at $173.06 on Friday. The company has a market capitalization of $269.39 billion, a P/E ratio of 31.35, a PEG ratio of 1.86 and a beta of 0.40. The company has a fifty day moving average price of $159.22 and a 200-day moving average price of $161.48. Philip Morris International Inc. has a 52-week low of $125.53 and a 52-week high of $186.69.

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th were issued a dividend of $1.47 per share. The ex-dividend date of this dividend was Friday, December 26th. This represents a $5.88 annualized dividend and a yield of 3.4%. Philip Morris International’s payout ratio is presently 106.52%.

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.