Pine Valley Investments Ltd Liability Co Boosts Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Pine Valley Investments Ltd Liability Co raised its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 225.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,379 shares of the company's stock after acquiring an additional 16,194 shares during the quarter. Pine Valley Investments Ltd Liability Co's holdings in Philip Morris International were worth $2,841,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Anchor Investment Management LLC boosted its holdings in shares of Philip Morris International by 3.5% in the 3rd quarter. Anchor Investment Management LLC now owns 46,037 shares of the company's stock valued at $5,589,000 after buying an additional 1,544 shares during the last quarter. McIlrath & Eck LLC raised its holdings in shares of Philip Morris International by 38.5% in the 3rd quarter. McIlrath & Eck LLC now owns 561 shares of the company's stock valued at $68,000 after purchasing an additional 156 shares during the period. Soltis Investment Advisors LLC lifted its stake in Philip Morris International by 13.3% in the 3rd quarter. Soltis Investment Advisors LLC now owns 2,270 shares of the company's stock valued at $276,000 after purchasing an additional 267 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in Philip Morris International by 2.6% during the third quarter. TD Private Client Wealth LLC now owns 116,416 shares of the company's stock worth $14,133,000 after purchasing an additional 2,905 shares during the period. Finally, Chiron Investment Management LLC acquired a new position in Philip Morris International during the third quarter worth approximately $4,293,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PM shares. The Goldman Sachs Group raised their price objective on Philip Morris International from $126.00 to $140.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Stifel Nicolaus reiterated a "buy" rating and issued a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. JPMorgan Chase & Co. raised 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 note on Wednesday, October 23rd. UBS Group upped their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the company a "sell" rating in a research note on Wednesday, October 23rd. Finally, Citigroup raised their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $131.50.

Insider Activity

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the business's 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 sale, the chairman now directly owns 959,761 shares of the company's stock, valued at $124,624,965.85. The trade was a 9.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Werner Barth sold 7,500 shares of the company's stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total transaction of $974,850.00. Following the completion of the sale, the insider now owns 95,418 shares in the company, valued at $12,402,431.64. This represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Philip Morris International Stock Up 0.1 %

Shares of PM traded up $0.17 during mid-day trading on Thursday, hitting $126.99. 5,144,472 shares of the company's stock were exchanged, compared to its average volume of 5,355,886. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $134.15. The stock's 50-day simple moving average is $127.18 and its 200-day simple moving average is $117.54. The firm has a market cap of $197.45 billion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 2.29 and a beta of 0.53.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 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 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 company's revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company earned $1.67 EPS. Analysts forecast that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, December 26th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.25%. Philip Morris International's dividend payout ratio (DPR) 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.