Renaissance Technologies LLC Purchases Shares of 128,900 Philip Morris International Inc. (NYSE:PM)

Renaissance Technologies LLC purchased a new stake in Philip Morris International Inc. (NYSE:PM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 128,900 shares of the company's stock, valued at approximately $15,513,000.

Other large investors also recently made changes to their positions in the company. Range Financial Group LLC increased its stake in Philip Morris International by 504.9% in the fourth quarter. Range Financial Group LLC now owns 22,915 shares of the company's stock valued at $2,758,000 after purchasing an additional 19,127 shares in the last quarter. Park Avenue Securities LLC raised its stake in Philip Morris International by 18.9% during the 4th quarter. Park Avenue Securities LLC now owns 100,826 shares of the company's stock worth $12,134,000 after buying an additional 16,035 shares during the period. CWA Asset Management Group LLC lifted its holdings in Philip Morris International by 37.5% during the fourth quarter. CWA Asset Management Group LLC now owns 24,200 shares of the company's stock worth $2,912,000 after acquiring an additional 6,605 shares in the last quarter. Ritholtz Wealth Management increased its holdings in shares of Philip Morris International by 50.9% in the fourth quarter. Ritholtz Wealth Management now owns 53,884 shares of the company's stock worth $6,485,000 after acquiring an additional 18,183 shares in the last quarter. Finally, Czech National Bank lifted its holdings in shares of Philip Morris International by 6.4% during the 4th quarter. Czech National Bank now owns 337,119 shares of the company's stock valued at $40,572,000 after purchasing an additional 20,390 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

Philip Morris International Stock Up 1.6 %

Shares of NYSE:PM traded up $2.60 during trading on Friday, reaching $163.08. 7,543,615 shares of the company traded hands, compared to its average volume of 5,589,633. The firm has a market capitalization of $253.83 billion, a PE ratio of 36.16, a PEG ratio of 2.65 and a beta of 0.46. The company's 50 day moving average is $153.50 and its two-hundred day moving average is $135.62. Philip Morris International Inc. has a 52 week low of $90.65 and a 52 week high of $165.00.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.55 earnings per share for the quarter, topping analysts' consensus estimates 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%. As a group, research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, March 20th were given a dividend of $1.35 per share. The ex-dividend date was Thursday, March 20th. This represents a $5.40 dividend on an annualized basis and a yield of 3.31%. Philip Morris International's dividend payout ratio is currently 119.73%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PM shares. Stifel Nicolaus boosted their price objective on shares of Philip Morris International from $160.00 to $168.00 and gave the company a "buy" rating in a research report on Thursday, April 10th. Argus raised Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. Citigroup upped their price target on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Finally, Morgan Stanley started coverage on Philip Morris International in a research report on Thursday, January 16th. They set an "overweight" rating and a $140.00 price target on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Philip Morris International has an average rating of "Moderate Buy" and a consensus target price of $150.78.

Insider Transactions at Philip Morris International

In related news, SVP Yann Guerin sold 2,500 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $151.28, for a total value of $378,200.00. Following the completion of the sale, the senior vice president now directly owns 30,308 shares in the company, valued at $4,584,994.24. This represents a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lars Dahlgren sold 3,679 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $152.96, for a total transaction of $562,739.84. Following the transaction, the insider now owns 26,828 shares of the company's stock, valued at approximately $4,103,610.88. The trade was a 12.06 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 131,822 shares of company stock worth $19,655,585. Insiders own 0.13% of the company's stock.

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.