Bessemer Group Inc. Sells 5,705 Shares of Philip Morris International Inc. $PM

Bessemer Group Inc. decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 0.4% in the third quarter, HoldingsChannel reports. The fund owned 1,370,640 shares of the company’s stock after selling 5,705 shares during the quarter. Bessemer Group Inc.’s holdings in Philip Morris International were worth $222,317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of PM. Vanguard Group Inc. increased its position 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 worth $26,018,555,000 after buying an additional 2,235,380 shares in the last quarter. State Street Corp increased its holdings in Philip Morris International by 1.6% in the 2nd 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 in the last quarter. Geode Capital Management LLC raised its stake in Philip Morris International by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 37,181,107 shares of the company’s stock worth $6,760,346,000 after acquiring an additional 672,983 shares during the period. WCM Investment Management LLC raised its stake in 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 worth $2,041,223,000 after acquiring an additional 11,230,626 shares during the period. Finally, Fayez Sarofim & Co lifted its holdings in Philip Morris International by 7.9% during the second 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 in the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Trading Up 1.8%

NYSE:PM opened at $180.22 on Thursday. The business’s 50-day moving average is $162.98 and its 200 day moving average is $161.39. Philip Morris International Inc. has a 12 month low of $130.31 and a 12 month high of $186.69. The company has a market capitalization of $280.54 billion, a P/E ratio of 32.65, a P/E/G ratio of 1.91 and a beta of 0.39.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Friday, December 26th were given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, December 26th. Philip Morris International’s payout ratio is currently 106.52%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PM shares. Jefferies Financial Group cut shares of 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 note on Tuesday, January 20th. Barclays decreased their price target on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday, November 17th. JPMorgan Chase & Co. dropped their price objective on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Finally, Stifel Nicolaus set a $180.00 price target on Philip Morris International in a research note on Tuesday, October 21st. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Philip Morris International has an average rating of “Moderate Buy” and a consensus target price of $184.56.

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.