Cumberland Partners Ltd Boosts Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Cumberland Partners Ltd grew its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 458.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,860 shares of the company's stock after acquiring an additional 45,860 shares during the quarter. Cumberland Partners Ltd's holdings in Philip Morris International were worth $6,781,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. GQG Partners LLC boosted its position in shares of Philip Morris International by 5,006.0% in the first quarter. GQG Partners LLC now owns 5,958,391 shares of the company's stock worth $545,908,000 after buying an additional 5,841,696 shares during the period. Massachusetts Financial Services Co. MA increased its position in 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 during the last quarter. 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 acquiring an additional 1,856,551 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Philip Morris International by 3.1% during 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 acquiring an additional 1,800,864 shares in the last quarter. Finally, Capital World Investors lifted its position 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 purchasing an additional 1,684,992 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Trading Down 0.6 %

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

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $9.91 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm earned $1.67 earnings per share. On average, equities research analysts predict that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal 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 4.35%. Philip Morris International's payout ratio is presently 85.71%.

Insider Buying and Selling at Philip Morris International

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction that occurred on 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 sale, the chairman now directly owns 959,761 shares in the company, valued at approximately $124,624,965.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 stock was sold at an average price of $129.98, for a total transaction of $974,850.00. Following 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the business's stock in a transaction on 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 sale, the chairman now owns 959,761 shares of the company's stock, valued at approximately $124,624,965.85. The trade was 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.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Philip Morris International from $118.00 to $135.00 and gave the company a "buy" rating in a research note on Tuesday, October 1st. StockNews.com upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research note on Monday, July 22nd. UBS Group raised their price objective on Philip Morris International from $103.00 to $105.00 and gave the company a "sell" rating in a report on Wednesday, October 23rd. The Goldman Sachs Group raised their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Finally, Bank of America upped their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a "buy" rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $127.85.

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.