Fifth Third Bancorp Has $61.01 Million Position in Philip Morris International Inc. (NYSE:PM)

Fifth Third Bancorp lifted its position in Philip Morris International Inc. (NYSE:PM) by 3.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 506,941 shares of the company’s stock after purchasing an additional 17,143 shares during the period. Fifth Third Bancorp’s holdings in Philip Morris International were worth $61,010,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. FMR LLC boosted its stake in Philip Morris International by 40.9% during the 3rd quarter. FMR LLC now owns 23,168,446 shares of the company’s stock valued at $2,812,649,000 after purchasing an additional 6,721,094 shares during the period. Massachusetts Financial Services Co. MA increased its position in Philip Morris International by 57.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock worth $1,121,932,000 after acquiring an additional 3,363,454 shares during the period. National Bank of Canada FI raised its stake in Philip Morris International by 161.6% during the 3rd quarter. National Bank of Canada FI now owns 1,943,460 shares of the company’s stock valued at $235,936,000 after purchasing an additional 1,200,636 shares during the last quarter. Los Angeles Capital Management LLC grew its position in Philip Morris International by 14,611.4% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,173,531 shares of the company’s stock worth $142,467,000 after purchasing an additional 1,165,554 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Philip Morris International by 13,666.6% during the 3rd quarter. International Assets Investment Management LLC now owns 999,729 shares of the company’s stock worth $121,367,000 after purchasing an additional 992,467 shares during the period. 78.63% of the stock is owned by institutional investors.

Philip Morris International Stock Performance

Philip Morris International stock opened at $127.28 on Friday. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $134.15. The business’s fifty day moving average is $125.32 and its two-hundred day moving average is $121.80. The firm has a market cap of $197.89 billion, a P/E ratio of 20.20, a P/E/G ratio of 2.01 and a beta of 0.54.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.09. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The company had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. During the same period in the prior year, the company posted $1.67 EPS. The company’s revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts predict that Philip Morris International Inc. will post 6.5 earnings per share for the current year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, December 26th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.24%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International’s payout ratio is 85.71%.

Analysts Set New Price Targets

PM has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Morgan Stanley began coverage on Philip Morris International in a research note on Thursday, January 16th. They issued an “overweight” rating and a $140.00 target price for the company. Citigroup boosted their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Barclays reduced their price objective on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Philip Morris International has a consensus rating of “Moderate Buy” and an average price target of $131.35.

About Philip Morris International

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.