ING Groep NV Grows Stock Position in Philip Morris International Inc. (NYSE:PM)

ING Groep NV lifted its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 34.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 604,533 shares of the company's stock after acquiring an additional 155,055 shares during the period. ING Groep NV's holdings in Philip Morris International were worth $73,390,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PM. Iron Horse Wealth Management LLC increased 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 valued at $25,000 after buying an additional 219 shares during the period. Strategic Financial Concepts LLC acquired a new position in Philip Morris International in the 2nd quarter valued at $25,000. Sachetta LLC increased its stake in 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 buying an additional 105 shares during the period. Fortitude Family Office LLC increased its stake in Philip Morris International by 57.4% in the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company's stock valued at $32,000 after buying an additional 116 shares during the period. Finally, Olistico Wealth LLC purchased a new stake in shares of Philip Morris International during the 2nd quarter worth $34,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PM has been the topic of several research analyst reports. The Goldman Sachs Group boosted 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. Bank of America boosted their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a "buy" rating in a research report on Wednesday, September 4th. StockNews.com upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Monday, July 22nd. UBS Group boosted their target price on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a "sell" rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $127.85.

Insider Activity

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the 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 completion of the sale, the chairman now owns 959,761 shares of the company's stock, valued at approximately $124,624,965.85. This represents a 9.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Werner Barth sold 7,500 shares of the 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. This trade represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company's stock.

Philip Morris International Stock Up 2.4 %

Shares of Philip Morris International stock traded up $2.96 on Thursday, hitting $128.20. The company's stock had a trading volume of 6,815,617 shares, compared to its average volume of 5,398,920. The firm has a fifty day moving average price of $124.19 and a 200-day moving average price of $113.11. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $134.15. The company has a market capitalization of $199.33 billion, a P/E ratio of 20.35, a price-to-earnings-growth ratio of 2.17 and a beta of 0.54.

Philip Morris International (NYSE:PM - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.09. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The firm had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. During the same quarter in the previous year, the company posted $1.67 EPS. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. As a group, analysts expect 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. Stockholders of record on Thursday, September 26th were paid a dividend of $1.35 per share. The ex-dividend date was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.21%. This is an increase from Philip Morris International's previous quarterly dividend of $1.30. Philip Morris International's dividend payout ratio is currently 85.71%.

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.