Harber Asset Management LLC Decreases Stake in Philip Morris International Inc. (NYSE:PM)

Harber Asset Management LLC lowered its position in shares of Philip Morris International Inc. (NYSE:PM) by 68.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,850 shares of the company’s stock after selling 173,573 shares during the period. Philip Morris International comprises approximately 2.9% of Harber Asset Management LLC’s holdings, making the stock its 17th largest holding. Harber Asset Management LLC’s holdings in Philip Morris International were worth $9,815,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted 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 valued at $2,812,649,000 after purchasing an additional 6,721,094 shares during the last quarter. Bank of New York Mellon Corp raised its holdings 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 acquiring an additional 1,856,551 shares during the last quarter. First Eagle Investment Management LLC increased its position in shares of Philip Morris International by 7.4% in the second quarter. First Eagle Investment Management LLC now owns 10,655,948 shares of the company’s stock worth $1,079,767,000 after acquiring an additional 736,961 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Philip Morris International by 4.7% during the 2nd quarter. Legal & General Group Plc now owns 10,430,837 shares of the company’s stock valued at $1,056,957,000 after buying an additional 469,806 shares during the last quarter. Finally, Ninety One UK Ltd raised its position in shares of Philip Morris International by 0.9% during the 2nd quarter. Ninety One UK Ltd now owns 9,467,759 shares of the company’s stock worth $959,368,000 after purchasing an additional 86,667 shares during the period. Hedge funds and other institutional investors 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 cap of $203.67 billion, a PE ratio of 20.79, a P/E/G ratio of 2.33 and a beta of 0.53. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $134.15. The business’s fifty day simple moving average is $125.74 and its 200-day simple moving average is $115.99.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating 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%. Philip Morris International’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.67 EPS. Research analysts expect that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 4.12%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date was Thursday, September 26th. Philip Morris International’s dividend payout ratio is presently 85.71%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PM. Stifel Nicolaus reissued a “buy” rating and set a $145.00 price target (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their target price on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. UBS Group raised their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a report on Wednesday, October 23rd. Citigroup boosted their price objective on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, The Goldman Sachs Group boosted their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $131.50.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the company’s stock in a transaction on 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 transaction, the chairman now directly owns 959,761 shares in the company, valued at $124,624,965.85. The trade was a 9.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Werner Barth sold 7,500 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were 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 of the company’s stock, valued at $12,402,431.64. This represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% 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.