KBC Group NV Boosts Stake in Philip Morris International Inc. (NYSE:PM)

KBC Group NV raised its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 119,592 shares of the company's stock after buying an additional 4,001 shares during the period. KBC Group NV's holdings in Philip Morris International were worth $14,518,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of PM. Iron Horse Wealth Management LLC raised its stake in shares of Philip Morris International by 684.4% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company's stock valued at $25,000 after purchasing an additional 219 shares during the period. Strategic Financial Concepts LLC bought a new position in Philip Morris International in the 2nd quarter valued at $25,000. Sachetta LLC grew its position in shares of Philip Morris International by 64.8% during 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. Fortitude Family Office LLC boosted its stake in Philip Morris International by 57.4% during the second 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 position in Philip Morris International during the second quarter worth about $34,000. Institutional investors own 78.63% of the company's stock.

Philip Morris International Price Performance

Shares of Philip Morris International stock traded up $0.39 during trading on Friday, hitting $128.59. 9,066,012 shares of the company's stock traded hands, compared to its average volume of 5,415,458. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $134.15. The business has a 50-day simple moving average of $124.30 and a 200-day simple moving average of $113.44. The stock has a market capitalization of $199.94 billion, a P/E ratio of 20.41, a PEG ratio of 2.19 and a beta of 0.54.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping 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 negative return on equity of 117.94% and a net margin of 10.35%. The company's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the business posted $1.67 EPS. On average, equities analysts predict that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company 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. The ex-dividend date of this dividend was Thursday, September 26th. This is a boost 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 4.20%. Philip Morris International's dividend payout ratio is 85.71%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. The Goldman Sachs Group lifted their price target on Philip Morris International from $126.00 to $140.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. Citigroup upped their price objective 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. UBS Group raised their target price on Philip Morris International from $103.00 to $105.00 and gave the stock a "sell" rating in a research note on Wednesday, October 23rd. StockNews.com raised Philip Morris International from a "hold" rating to a "buy" rating in a research note on Monday, July 22nd. Finally, Barclays raised their price target on Philip Morris International from $145.00 to $155.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Philip Morris International has a consensus rating of "Moderate Buy" and an average target price of $127.85.

Insider Activity

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the company's stock in a transaction on 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 transaction, the chairman now owns 959,761 shares of the company's stock, valued at $124,624,965.85. This represents a 9.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Werner Barth sold 7,500 shares of the stock in a transaction on 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 sale, the insider now owns 95,418 shares in the company, valued at approximately $12,402,431.64. The trade was a 7.29 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

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.