Miracle Mile Advisors LLC increased its stake in shares of Philip Morris International Inc. (NYSE:PM – Free Report) by 70.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,140 shares of the company’s stock after buying an additional 1,712 shares during the period. Miracle Mile Advisors LLC’s holdings in Philip Morris International were worth $498,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of Philip Morris International by 40.9% during the third quarter. FMR LLC now owns 23,168,446 shares of the company’s stock worth $2,812,649,000 after acquiring an additional 6,721,094 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Philip Morris International by 57.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock valued at $1,121,932,000 after purchasing an additional 3,363,454 shares during the last quarter. National Bank of Canada FI grew its position in shares of Philip Morris International by 161.6% during the 3rd quarter. National Bank of Canada FI now owns 1,943,460 shares of the company’s stock worth $235,936,000 after buying an additional 1,200,636 shares during the period. Los Angeles Capital Management LLC lifted its holdings in Philip Morris International by 14,611.4% in the third quarter. Los Angeles Capital Management LLC now owns 1,173,531 shares of the company’s stock valued at $142,467,000 after buying an additional 1,165,554 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in Philip Morris International by 13,666.6% during the 3rd quarter. International Assets Investment Management LLC now owns 999,729 shares of the company’s stock worth $121,367,000 after acquiring an additional 992,467 shares during the period. Institutional investors own 78.63% of the company’s stock.
Philip Morris International Trading Down 0.0 %
PM opened at $118.45 on Thursday. The stock has a market capitalization of $184.17 billion, a P/E ratio of 18.80, a P/E/G ratio of 2.22 and a beta of 0.54. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $134.15. The firm’s fifty day simple moving average is $125.80 and its 200 day simple moving average is $121.07.
Philip Morris International (NYSE:PM – Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.09. The company had revenue of $9.91 billion during the quarter, compared to analysts’ expectations of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. Philip Morris International’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 firm earned $1.67 earnings per share. On average, equities research analysts predict that Philip Morris International Inc. will post 6.51 EPS for the current fiscal year.
Philip Morris International Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, December 26th were issued a $1.35 dividend. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.56%. Philip Morris International’s dividend payout ratio (DPR) is presently 85.71%.
Analysts Set New Price Targets
A number of equities research analysts recently commented on PM shares. Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 price objective (up previously from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Citigroup boosted their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. UBS Group increased their target price on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $130.39.
View Our Latest Stock Report on Philip Morris International
Insider Activity
In other news, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the transaction, the insider now owns 95,418 shares in the company, valued at $12,402,431.64. This trade represents a 7.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $13,234,052.30. Following the completion of the sale, the chairman now directly owns 959,761 shares in the company, valued at approximately $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 owned by corporate insiders.
About Philip Morris International
(Free Report)
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.
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