Dorsey Wright & Associates Buys New Stake in Philip Morris International Inc. (NYSE:PM)

Dorsey Wright & Associates purchased a new position in Philip Morris International Inc. (NYSE:PM - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 24,626 shares of the company's stock, valued at approximately $2,990,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Iron Horse Wealth Management LLC grew its stake in Philip Morris International by 684.4% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company's stock worth $25,000 after buying an additional 219 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Philip Morris International in the 2nd quarter valued at $25,000. Sachetta LLC boosted its stake in shares of Philip Morris International by 64.8% in the 2nd quarter. Sachetta LLC now owns 267 shares of the company's stock valued at $27,000 after purchasing an additional 105 shares in the last quarter. Valley Wealth Managers Inc. boosted its stake in shares of Philip Morris International by 457.5% in the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company's stock valued at $27,000 after purchasing an additional 183 shares in the last quarter. Finally, Dunhill Financial LLC boosted its stake in shares of Philip Morris International by 203.8% in the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company's stock valued at $29,000 after purchasing an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Insider Transactions at Philip Morris International

In other 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 transaction of $974,850.00. Following the sale, the insider now owns 95,418 shares in the company, valued at $12,402,431.64. This trade represents a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the sale, the chairman now owns 959,761 shares in the company, valued at approximately $124,624,965.85. The trade was a 9.60 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.

Philip Morris International Stock Down 1.5 %

Shares of NYSE PM traded down $1.93 during trading on Friday, reaching $130.56. 4,212,554 shares of the company traded hands, compared to its average volume of 4,882,677. The firm has a 50 day simple moving average of $126.72 and a 200-day simple moving average of $117.06. The stock has a market capitalization of $203.00 billion, a PE ratio of 20.72, a P/E/G ratio of 2.28 and a beta of 0.53. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $134.15.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.82 by $0.09. The firm 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 business's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.67 EPS. As a group, research analysts predict that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.14%. The ex-dividend date was Thursday, September 26th. 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%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. UBS Group upped their price objective on shares of Philip Morris International from $103.00 to $105.00 and gave the company a "sell" rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group upped their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Bank of America upped their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the company a "buy" rating in a report on Wednesday, September 4th. Stifel Nicolaus reiterated a "buy" rating and set a $145.00 price target (up from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the company a "buy" rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $131.50.

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.