International Assets Investment Management LLC Boosts Holdings in Philip Morris International Inc. (NYSE:PM)

International Assets Investment Management LLC raised its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 13,666.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 999,729 shares of the company’s stock after acquiring an additional 992,467 shares during the quarter. International Assets Investment Management LLC’s holdings in Philip Morris International were worth $121,367,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PM. GQG Partners LLC increased its holdings in Philip Morris International by 5,006.0% during the 1st quarter. GQG Partners LLC now owns 5,958,391 shares of the company’s stock valued at $545,908,000 after acquiring an additional 5,841,696 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Philip Morris International by 79.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,878,158 shares of the company’s stock worth $595,634,000 after buying an additional 2,599,684 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Philip Morris International by 5,045.1% during the first quarter. Van ECK Associates Corp now owns 2,122,729 shares of the company’s stock worth $194,484,000 after buying an additional 2,081,472 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Philip Morris International by 16.3% during the second quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock worth $1,341,050,000 after buying an additional 1,856,551 shares in the last quarter. Finally, Capital Research Global Investors grew its holdings in shares of Philip Morris International by 3.1% during the first quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock worth $5,517,085,000 after buying an additional 1,800,864 shares in the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. lifted their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday. Citigroup lifted their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $145.00 price target (up from $138.00) on shares of Philip Morris International in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $126.85.

Philip Morris International Stock Down 2.2 %

Shares of PM stock opened at $129.86 on Friday. The stock has a market cap of $201.87 billion, a price-to-earnings ratio of 25.36, a price-to-earnings-growth ratio of 2.57 and a beta of 0.55. Philip Morris International Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $133.27. The firm’s 50 day moving average price is $122.26 and its two-hundred day moving average price is $109.44.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.09. The firm had revenue of $9.91 billion for the quarter, compared to analysts’ expectations of $9.68 billion. Philip Morris International had a net margin of 12.10% and a negative return on equity of 117.94%. Philip Morris International’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.67 earnings per share. On average, equities analysts forecast that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.16%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International’s payout ratio is 105.47%.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the completion of the transaction, the insider now owns 95,418 shares of the company’s stock, valued at $12,402,431.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 118,418 shares of company stock valued at $15,247,052 over the last ninety days. Corporate insiders own 0.13% of the company’s stock.

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.