Gabelli Funds LLC Grows Position in Philip Morris International Inc. (NYSE:PM)

Gabelli Funds LLC boosted its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 294,350 shares of the company's stock after acquiring an additional 3,000 shares during the period. Gabelli Funds LLC's holdings in Philip Morris International were worth $35,425,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Philip Morris International by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 139,432,392 shares of the company's stock worth $16,780,688,000 after buying an additional 1,167,810 shares in the last quarter. GQG Partners LLC raised its position in Philip Morris International by 14.3% during the fourth quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock valued at $5,866,678,000 after purchasing an additional 6,092,558 shares in the last quarter. Geode Capital Management LLC lifted its position in Philip Morris International by 9.9% in the 4th quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company's stock worth $4,241,837,000 after buying an additional 3,185,258 shares during the last quarter. Wellington Management Group LLP boosted its stake in Philip Morris International by 3.1% in the fourth quarter. Wellington Management Group LLP now owns 17,276,790 shares of the company's stock worth $2,079,262,000 after buying an additional 516,617 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Philip Morris International by 21.0% in the 4th quarter. Bank of New York Mellon Corp now owns 16,070,482 shares of the company's stock valued at $1,934,083,000 after purchasing an additional 2,785,987 shares in the last quarter. Institutional investors own 78.63% of the company's stock.

Wall Street Analyst Weigh In

PM has been the topic of several analyst reports. Argus upgraded Philip Morris International from a "hold" rating to a "buy" rating in a report on Friday, March 14th. StockNews.com cut shares of Philip Morris International from a "buy" rating to a "hold" rating in a report on Monday, February 10th. JPMorgan Chase & Co. increased their price target on shares of Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Citigroup increased their price objective on Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Stifel Nicolaus boosted their target price on Philip Morris International from $160.00 to $168.00 and gave the company a "buy" rating in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Philip Morris International presently has an average rating of "Moderate Buy" and a consensus price target of $150.78.

Philip Morris International Stock Up 1.6 %

Shares of PM stock traded up $2.60 during mid-day trading on Friday, reaching $163.08. 7,543,615 shares of the company's stock traded hands, compared to its average volume of 5,589,633. The company's 50-day moving average price is $153.50 and its 200-day moving average price is $135.62. The company has a market cap of $253.83 billion, a P/E ratio of 36.16, a P/E/G ratio of 2.65 and a beta of 0.46. Philip Morris International Inc. has a 12 month low of $90.65 and a 12 month high of $165.00.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.49 by $0.06. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. Equities analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend was Thursday, March 20th. Philip Morris International's dividend payout ratio is presently 119.73%.

Insider Buying and Selling

In other news, insider Lars Dahlgren sold 3,679 shares of Philip Morris International stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $152.96, for a total value of $562,739.84. Following the completion of the sale, the insider now directly owns 26,828 shares in the company, valued at $4,103,610.88. The trade was a 12.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Reginaldo Dobrowolski sold 5,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $149.88, for a total transaction of $749,400.00. Following the transaction, the vice president now owns 20,799 shares in the company, valued at approximately $3,117,354.12. This trade represents a 19.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 131,822 shares of company stock worth $19,655,585 in the last quarter. Corporate insiders own 0.13% of the company's stock.

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.