Geode Capital Management LLC Purchases 3,185,258 Shares of Philip Morris International Inc. (NYSE:PM)

Geode Capital Management LLC increased its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 9.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,286,582 shares of the company's stock after purchasing an additional 3,185,258 shares during the period. Geode Capital Management LLC owned approximately 2.27% of Philip Morris International worth $4,241,837,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Edgestream Partners L.P. raised its holdings in Philip Morris International by 144.5% in the 3rd quarter. Edgestream Partners L.P. now owns 13,172 shares of the company's stock worth $1,599,000 after acquiring an additional 7,784 shares during the period. Cobblestone Capital Advisors LLC NY boosted its stake in Philip Morris International by 9.2% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 4,508 shares of the company's stock valued at $547,000 after purchasing an additional 381 shares during the period. Erste Asset Management GmbH bought a new stake in Philip Morris International during the 3rd quarter valued at approximately $1,077,000. Kestra Investment Management LLC acquired a new stake in Philip Morris International in the 3rd quarter valued at approximately $231,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Philip Morris International in the 3rd quarter worth approximately $1,569,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Stock Performance

Shares of NYSE PM traded up $6.04 during midday trading on Thursday, reaching $162.21. 10,578,322 shares of the company traded hands, compared to its average volume of 5,490,968. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $163.04. The stock's 50-day simple moving average is $147.92 and its 200-day simple moving average is $132.82. The firm has a market cap of $252.21 billion, a PE ratio of 35.97, a PEG ratio of 2.65 and a beta of 0.53.

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Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.06. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. On average, equities research analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 20th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $5.40 dividend on an annualized basis and a yield of 3.33%. Philip Morris International's dividend payout ratio is 119.73%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PM. JPMorgan Chase & Co. raised their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Argus raised Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. Stifel Nicolaus upped their price target on Philip Morris International from $145.00 to $160.00 and gave the company a "buy" rating in a report on Friday, February 7th. StockNews.com lowered Philip Morris International from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Finally, Barclays raised their target price on Philip Morris International from $145.00 to $175.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. 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 stock. According to data from MarketBeat.com, Philip Morris International has an average rating of "Moderate Buy" and a consensus target price of $144.56.

Insider Activity at Philip Morris International

In other Philip Morris International news, VP Reginaldo Dobrowolski sold 5,000 shares of the firm's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $149.88, for a total value of $749,400.00. Following the completion of the sale, the vice president now owns 20,799 shares in the company, valued at approximately $3,117,354.12. This trade represents a 19.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Yann Guerin sold 2,500 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $151.28, for a total transaction of $378,200.00. Following the completion of the transaction, the senior vice president now directly owns 30,308 shares of the company's stock, valued at approximately $4,584,994.24. This represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 131,822 shares of company stock valued at $19,655,585 in the last three months. Corporate insiders own 0.13% of the company's stock.

Philip Morris International Company 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.