Aljian Capital Management LLC Invests $1.04 Million in Philip Morris International Inc. (NYSE:PM)

Aljian Capital Management LLC bought a new stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 8,523 shares of the company's stock, valued at approximately $1,035,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital World Investors grew its stake in shares of Philip Morris International by 1.5% during the first quarter. Capital World Investors now owns 111,247,656 shares of the company's stock worth $10,192,510,000 after acquiring an additional 1,684,992 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Philip Morris International by 3.1% in the first 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. Bank of New York Mellon Corp raised its position in Philip Morris International by 16.3% during the 2nd 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 during the last quarter. First Eagle Investment Management LLC boosted its holdings in shares of Philip Morris International by 7.4% in the 2nd quarter. First Eagle Investment Management LLC now owns 10,655,948 shares of the company's stock valued at $1,079,767,000 after acquiring an additional 736,961 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Philip Morris International by 4.7% in the second quarter. Legal & General Group Plc now owns 10,430,837 shares of the company's stock worth $1,056,957,000 after acquiring an additional 469,806 shares during the period. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Stock Up 2.4 %

Shares of PM traded up $3.13 during trading on Monday, reaching $131.72. 4,896,565 shares of the company traded hands, compared to its average volume of 5,413,178. The stock has a 50-day simple moving average of $124.39 and a 200-day simple moving average of $113.94. The stock has a market cap of $204.80 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 2.25 and a beta of 0.54. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The company's revenue was up 8.4% on a year-over-year basis. During the same period last year, the business earned $1.67 EPS. On average, equities research analysts predict that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were issued a $1.35 dividend. This is an increase from Philip Morris International's previous quarterly dividend of $1.30. The ex-dividend date was Thursday, September 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.10%. Philip Morris International's payout ratio is presently 85.71%.

Insider Buying and Selling

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the sale, the insider now directly owns 95,418 shares of the company's stock, valued at approximately $12,402,431.64. The trade was a 7.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total value of $13,234,052.30. Following the transaction, the chairman now owns 959,761 shares in the company, valued at $124,624,965.85. This trade represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. StockNews.com raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a report on Monday, July 22nd. Citigroup upped their price objective on Philip Morris International from $118.50 to $132.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. Barclays boosted their target price on shares of Philip Morris International from $145.00 to $155.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Stifel Nicolaus reaffirmed a "buy" rating and issued a $145.00 price objective (up previously from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. raised their target price on Philip Morris International from $125.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $131.50.

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.