Entropy Technologies LP increased its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 111.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,864 shares of the company's stock after purchasing an additional 29,958 shares during the period. Philip Morris International makes up 0.7% of Entropy Technologies LP's investment portfolio, making the stock its 14th largest holding. Entropy Technologies LP's holdings in Philip Morris International were worth $6,903,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in PM. GQG Partners LLC boosted its stake in shares of Philip Morris International by 5,006.0% during the first 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 increased its stake in 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 worth $595,634,000 after acquiring an additional 2,599,684 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings 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 valued at $1,341,050,000 after acquiring an additional 1,856,551 shares during the period. Capital Research Global Investors lifted its holdings 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 worth $5,517,085,000 after buying an additional 1,800,864 shares during the period. Finally, Capital World Investors lifted its stake in shares of Philip Morris International by 1.5% during the 1st 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 during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
PM has been the subject of several recent analyst reports. StockNews.com raised Philip Morris International from a "hold" rating to a "buy" rating in a research note on Monday, July 22nd. Barclays lifted their price target on Philip Morris International from $145.00 to $155.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Stifel Nicolaus reiterated a "buy" rating and issued a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Citigroup upped their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group increased their price objective 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Philip Morris International currently has an average rating of "Moderate Buy" and an average price target of $127.85.
Check Out Our Latest Stock Report on PM
Insiders Place Their Bets
In other news, insider Werner Barth sold 7,500 shares of the firm's stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the transaction, the insider now directly owns 95,418 shares in the company, valued at $12,402,431.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the business's 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 completion of the sale, the chairman now directly owns 959,761 shares of the company's stock, valued at $124,624,965.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Werner Barth sold 7,500 shares of the stock in a transaction 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 sale, the insider now owns 95,418 shares of the company's stock, valued at $12,402,431.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.
Philip Morris International Stock Performance
Shares of NYSE PM traded down $0.76 during trading on Tuesday, reaching $124.19. The company had a trading volume of 3,835,984 shares, compared to its average volume of 5,394,396. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $134.15. The stock has a market cap of $193.09 billion, a PE ratio of 19.81, a PEG ratio of 2.21 and a beta of 0.54. The business's 50 day moving average price is $124.24 and its 200-day moving average price is $112.81.
Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings results 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 company 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 firm's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $1.67 EPS. Equities analysts anticipate that Philip Morris International Inc. will post 6.51 earnings per share for the current year.
Philip Morris International Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were paid a dividend of $1.35 per share. The ex-dividend date was Thursday, September 26th. This is an increase from Philip Morris International's previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.35%. Philip Morris International's payout ratio is 85.71%.
About Philip Morris International
(
Free Report)
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.
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