1,899 Shares in Philip Morris International Inc. (NYSE:PM) Acquired by Kestra Investment Management LLC

Kestra Investment Management LLC bought a new position in shares of Philip Morris International Inc. (NYSE:PM) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,899 shares of the company’s stock, valued at approximately $231,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in Philip Morris International by 40.9% in the 3rd 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 period. Massachusetts Financial Services Co. MA grew its position in shares of Philip Morris International by 57.2% in the third 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. Bank of New York Mellon Corp increased its stake in shares of Philip Morris International by 16.3% in the second quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock worth $1,341,050,000 after purchasing an additional 1,856,551 shares during the period. Manning & Napier Advisors LLC acquired a new position in shares of Philip Morris International during the 2nd quarter worth about $155,373,000. Finally, Los Angeles Capital Management LLC boosted its stake in Philip Morris International by 14,611.4% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,173,531 shares of the company’s stock valued at $142,467,000 after purchasing an additional 1,165,554 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Down 1.6 %

NYSE:PM opened at $130.99 on Tuesday. The firm has a market capitalization of $203.67 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 2.33 and a beta of 0.53. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $134.15. The firm has a 50-day moving average price of $125.74 and a 200 day moving average price of $115.99.

Philip Morris International (NYSE:PM) last issued its earnings results 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 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 quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.67 EPS. On average, research analysts expect that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were issued a $1.35 dividend. This is a positive change 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 dividend yield of 4.12%. Philip Morris International’s dividend payout ratio is presently 85.71%.

Insider Buying and Selling

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Werner Barth sold 7,500 shares of the 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 sale, the insider now owns 95,418 shares in the company, valued at $12,402,431.64. The trade was a 7.29 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. UBS Group lifted their price target on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research report on Wednesday, October 23rd. Bank of America boosted their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Stifel Nicolaus reissued a “buy” rating and issued a $145.00 price target (up from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Barclays raised their price target on shares of 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, Deutsche Bank Aktiengesellschaft increased their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $131.50.

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.