Accredited Investors Inc. Raises Position in Philip Morris International Inc. (NYSE:PM)

Accredited Investors Inc. lifted its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 3,553.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 206,959 shares of the company's stock after purchasing an additional 201,294 shares during the period. Philip Morris International accounts for approximately 0.6% of Accredited Investors Inc.'s holdings, making the stock its 22nd largest holding. Accredited Investors Inc.'s holdings in Philip Morris International were worth $25,125,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. GQG Partners LLC raised its stake in shares of Philip Morris International by 5,006.0% in the 1st quarter. GQG Partners LLC now owns 5,958,391 shares of the company's stock valued at $545,908,000 after purchasing an additional 5,841,696 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Philip Morris International by 79.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,878,158 shares of the company's stock valued at $595,634,000 after purchasing an additional 2,599,684 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Philip Morris International by 16.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company's stock valued at $1,341,050,000 after purchasing an additional 1,856,551 shares during the period. Capital Research Global Investors raised its stake in shares of Philip Morris International by 3.1% in the 1st quarter. Capital Research Global Investors now owns 60,217,039 shares of the company's stock valued at $5,517,085,000 after purchasing an additional 1,800,864 shares during the period. Finally, Capital World Investors raised its stake in shares of Philip Morris International by 1.5% in the 1st quarter. Capital World Investors now owns 111,247,656 shares of the company's stock valued at $10,192,510,000 after purchasing an additional 1,684,992 shares during the period. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Down 0.6 %

Shares of NYSE:PM traded down $0.76 during trading on Tuesday, hitting $124.19. 3,835,984 shares of the company were exchanged, compared to its average volume of 5,394,396. The business's 50 day moving average is $124.24 and its 200-day moving average is $112.81. The company has a market capitalization of $193.09 billion, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 2.21 and a beta of 0.54. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $134.15.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $9.68 billion. During the same quarter in the previous year, the firm posted $1.67 earnings per share. Philip Morris International's revenue for the quarter was up 8.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Increases Dividend

The company 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. The ex-dividend date was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.35%. This is a boost from Philip Morris International's previous quarterly dividend of $1.30. Philip Morris International's dividend payout ratio is 85.71%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PM. UBS Group lifted their target price on Philip Morris International from $103.00 to $105.00 and gave the company a "sell" rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price target on Philip Morris International from $125.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. StockNews.com upgraded Philip Morris International from a "hold" rating to a "buy" rating in a report on Monday, July 22nd. Barclays lifted their price target on Philip Morris International from $145.00 to $155.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Finally, Citigroup lifted their price target on Philip Morris International from $118.50 to $132.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $127.85.

Insider Buying and Selling at Philip Morris International

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the transaction, the chairman now owns 959,761 shares of the company's stock, valued at $124,624,965.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Werner Barth sold 7,500 shares of the company's stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the sale, the insider now owns 95,418 shares in the company, valued at $12,402,431.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the company's stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the sale, the chairman now owns 959,761 shares in the company, valued at $124,624,965.85. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

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.