D1 Capital Partners L.P. Buys 343,160 Shares of Philip Morris International Inc. (NYSE:PM)

D1 Capital Partners L.P. boosted its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 10.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,630,033 shares of the company's stock after acquiring an additional 343,160 shares during the period. Philip Morris International accounts for about 7.3% of D1 Capital Partners L.P.'s portfolio, making the stock its 2nd biggest position. D1 Capital Partners L.P. owned about 0.23% of Philip Morris International worth $436,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Morse Asset Management Inc bought a new position in Philip Morris International in the third quarter valued at approximately $206,000. McIlrath & Eck LLC boosted its holdings in shares of Philip Morris International by 38.5% in the 3rd quarter. McIlrath & Eck LLC now owns 561 shares of the company's stock valued at $68,000 after purchasing an additional 156 shares in the last quarter. Anchor Investment Management LLC boosted its holdings in shares of Philip Morris International by 3.5% in the 3rd quarter. Anchor Investment Management LLC now owns 46,037 shares of the company's stock valued at $5,589,000 after purchasing an additional 1,544 shares in the last quarter. Pine Valley Investments Ltd Liability Co increased its stake in shares of Philip Morris International by 225.4% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 23,379 shares of the company's stock valued at $2,841,000 after purchasing an additional 16,194 shares during the last quarter. Finally, World Investment Advisors LLC raised its holdings in shares of Philip Morris International by 567.0% during the 3rd quarter. World Investment Advisors LLC now owns 50,672 shares of the company's stock worth $6,152,000 after buying an additional 43,075 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. StockNews.com cut Philip Morris International from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Morgan Stanley started coverage on shares of Philip Morris International in a report on Thursday, January 16th. They set an "overweight" rating and a $140.00 price target on the stock. Argus raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. Barclays boosted 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 note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. increased their price target on Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Philip Morris International has a consensus rating of "Moderate Buy" and a consensus target price of $150.78.

Insider Activity

In other news, Chairman Andre Calantzopoulos sold 40,643 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $149.06, for a total value of $6,058,245.58. Following the transaction, the chairman now directly owns 561,349 shares of the company's stock, valued at $83,674,681.94. The trade was a 6.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Lars Dahlgren sold 3,679 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $152.96, for a total value of $562,739.84. Following the sale, the insider now directly owns 26,828 shares of the company's stock, valued at $4,103,610.88. This represents a 12.06 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 131,822 shares of company stock valued at $19,655,585. 0.13% of the stock is currently owned by insiders.

Philip Morris International Stock Up 2.4 %

Shares of Philip Morris International stock opened at $168.07 on Thursday. The stock has a market cap of $261.60 billion, a price-to-earnings ratio of 37.27, a P/E/G ratio of 2.65 and a beta of 0.46. Philip Morris International Inc. has a twelve month low of $94.42 and a twelve month high of $171.63. The company's fifty day moving average is $154.69 and its 200 day moving average is $136.86.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.08. The firm had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. During the same quarter in the previous year, the company posted $1.50 EPS. As a group, equities analysts anticipate 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 declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th were given a $1.35 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.21%. Philip Morris International's dividend payout ratio (DPR) is currently 119.73%.

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.

Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.