Philip Morris International Inc. (NYSE:PM) Stock Holdings Lifted by Geode Capital Management LLC

Geode Capital Management LLC increased its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,101,324 shares of the company's stock after acquiring an additional 621,034 shares during the quarter. Geode Capital Management LLC owned approximately 2.06% of Philip Morris International worth $3,886,818,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Lantz Financial LLC grew its holdings in shares of Philip Morris International by 2.8% during the 2nd quarter. Lantz Financial LLC now owns 5,651 shares of the company's stock worth $573,000 after purchasing an additional 153 shares during the period. Dynamic Advisor Solutions LLC raised its stake in shares of Philip Morris International by 2.8% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 26,752 shares of the company's stock valued at $2,711,000 after acquiring an additional 727 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of Philip Morris International by 17.9% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 31,591 shares of the company's stock valued at $3,203,000 after acquiring an additional 4,793 shares in the last quarter. Maia Wealth LLC purchased a new stake in Philip Morris International during the 2nd quarter worth $268,000. Finally, NorthCrest Asset Manangement LLC increased its holdings in Philip Morris International by 1.2% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 20,911 shares of the company's stock valued at $2,119,000 after purchasing an additional 244 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Stock Performance

Shares of PM traded up $0.27 during midday trading on Tuesday, hitting $128.98. 3,790,626 shares of the stock traded hands, compared to its average volume of 5,336,633. The business's 50 day moving average price is $126.86 and its two-hundred day moving average price is $117.27. The firm has a market capitalization of $200.54 billion, a PE ratio of 20.47, a price-to-earnings-growth ratio of 2.29 and a beta of 0.53. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $134.15.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.67 EPS. As a group, equities research analysts forecast that Philip Morris International Inc. will post 6.51 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were issued a dividend of $1.35 per share. This is a boost from Philip Morris International's previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 annualized dividend and a yield of 4.19%. Philip Morris International's payout ratio is presently 85.71%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PM. Bank of America lifted their price objective on shares of Philip Morris International from $125.00 to $139.00 and gave the company a "buy" rating in a research note on Wednesday, September 4th. Citigroup lifted their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Philip Morris International from $118.00 to $135.00 and gave the company a "buy" rating in a research report on Tuesday, October 1st. Barclays lifted their target price on Philip Morris International from $145.00 to $155.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their price target on Philip Morris International from $125.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. One equities research 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's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $131.50.

Insiders Place Their Bets

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

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.