Resona Asset Management Co. Ltd. Purchases New Stake in Philip Morris International Inc. (NYSE:PM)

Resona Asset Management Co. Ltd. acquired a new position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 447,097 shares of the company's stock, valued at approximately $53,878,000.

Several other hedge funds also recently modified their holdings of PM. Janus Henderson Group PLC grew its position in Philip Morris International by 604.8% in the 3rd quarter. Janus Henderson Group PLC now owns 465,443 shares of the company's stock valued at $56,503,000 after purchasing an additional 399,400 shares during the period. Morse Asset Management Inc bought a new stake in shares of Philip Morris International during the third quarter worth about $206,000. Quarry LP increased its holdings in Philip Morris International by 10.2% during the 3rd quarter. Quarry LP now owns 1,748 shares of the company's stock worth $212,000 after purchasing an additional 162 shares in the last quarter. Quantinno Capital Management LP increased its holdings in Philip Morris International by 60.3% during the 3rd quarter. Quantinno Capital Management LP now owns 91,018 shares of the company's stock worth $11,050,000 after purchasing an additional 34,233 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in shares of Philip Morris International by 14.4% in the third quarter. Two Sigma Advisers LP now owns 1,529,899 shares of the company's stock valued at $185,730,000 after purchasing an additional 192,100 shares in the last quarter. Institutional investors own 78.63% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Stifel Nicolaus upped their price target on Philip Morris International from $145.00 to $160.00 and gave the stock a "buy" rating in a report on Friday, February 7th. StockNews.com lowered shares of Philip Morris International from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Morgan Stanley initiated coverage on shares of Philip Morris International in a research report on Thursday, January 16th. They set an "overweight" rating and a $140.00 price target on the stock. UBS Group upped their price objective on shares of Philip Morris International from $105.00 to $120.00 and gave the stock a "sell" rating in a research report on Friday, February 7th. Finally, Barclays lifted their target price on shares of Philip Morris International from $145.00 to $175.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Philip Morris International has a consensus rating of "Moderate Buy" and a consensus price target of $144.56.

Remove Ads

Insider Activity

In related news, VP Reginaldo Dobrowolski sold 5,000 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $149.88, for a total transaction of $749,400.00. Following the transaction, the vice president now owns 20,799 shares of the company's stock, valued at approximately $3,117,354.12. This trade represents a 19.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jacek Olczak sold 40,000 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $148.87, for a total transaction of $5,954,800.00. Following the completion of the sale, the chief executive officer now directly owns 547,426 shares of the company's stock, valued at $81,495,308.62. This represents a 6.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 131,822 shares of company stock worth $19,655,585. 0.13% of the stock is currently owned by insiders.

Philip Morris International Price Performance

Shares of NYSE:PM traded up $0.31 on Monday, hitting $150.93. The company's stock had a trading volume of 9,838,933 shares, compared to its average volume of 5,538,832. The company has a market capitalization of $234.93 billion, a PE ratio of 33.47, a PEG ratio of 2.65 and a beta of 0.46. The company has a 50-day simple moving average of $149.53 and a 200 day simple moving average of $133.57. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $163.08.

Philip Morris International (NYSE:PM - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $1.55 earnings per share for the quarter, beating analysts' consensus estimates of $1.49 by $0.06. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. On average, equities research analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Thursday, March 20th. Philip Morris International's payout ratio is currently 119.73%.

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.