Neo Ivy Capital Management Buys Shares of 19,814 Philip Morris International Inc. (NYSE:PM)

Neo Ivy Capital Management bought a new stake in Philip Morris International Inc. (NYSE:PM - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 19,814 shares of the company's stock, valued at approximately $2,406,000. Philip Morris International accounts for about 0.8% of Neo Ivy Capital Management's portfolio, making the stock its 29th largest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in PM. Iron Horse Wealth Management LLC increased its holdings in shares of Philip Morris International by 684.4% during the second 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 stake in shares of Philip Morris International during the 2nd quarter worth about $25,000. Sachetta LLC lifted 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 worth $27,000 after acquiring an additional 105 shares during the period. Valley Wealth Managers Inc. boosted its holdings in shares of Philip Morris International by 457.5% in the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company's stock valued at $27,000 after acquiring an additional 183 shares in the last quarter. Finally, Dunhill Financial LLC increased its stake in shares of Philip Morris International by 203.8% during the third quarter. Dunhill Financial LLC now owns 240 shares of the company's stock valued at $29,000 after acquiring an additional 161 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on PM shares. Citigroup increased their price target on Philip Morris International from $118.50 to $132.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. 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. Stifel Nicolaus reiterated a "buy" rating and issued a $145.00 target price (up from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Barclays increased their price objective on Philip Morris International from $145.00 to $155.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Finally, Bank of America lifted their target price on Philip Morris International from $125.00 to $139.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $131.50.

Insider Buying and Selling at Philip Morris International

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction dated 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 transaction, the chairman now directly owns 959,761 shares of the company's stock, valued at $124,624,965.85. This trade represents a 9.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 completion of the transaction, the insider now owns 95,418 shares of the company's stock, valued at $12,402,431.64. This trade represents 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 Price Performance

Philip Morris International stock traded down $1.36 during trading hours on Wednesday, hitting $127.62. The company had a trading volume of 1,834,126 shares, compared to its average volume of 5,321,687. The firm's fifty day moving average is $127.03 and its 200-day moving average is $117.47. The firm has a market capitalization of $198.43 billion, a P/E ratio of 20.48, a price-to-earnings-growth ratio of 2.29 and a beta of 0.53. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $134.15.

Philip Morris International (NYSE:PM - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, beating analysts' consensus estimates of $1.82 by $0.09. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The firm had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. During the same quarter in the previous year, the company posted $1.67 earnings per share. The business's quarterly revenue was up 8.4% compared to the same quarter last year. 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. Stockholders of record on Thursday, September 26th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.23%. This is a positive change from Philip Morris International's previous quarterly dividend of $1.30. Philip Morris International's dividend payout ratio is currently 85.71%.

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.