Voloridge Investment Management LLC Has $44.70 Million Position in Philip Morris International Inc. (NYSE:PM)

Voloridge Investment Management LLC lowered its holdings in Philip Morris International Inc. (NYSE:PM) by 49.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 371,419 shares of the company’s stock after selling 360,051 shares during the period. Voloridge Investment Management LLC’s holdings in Philip Morris International were worth $44,700,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. GQG Partners LLC boosted its stake in shares of Philip Morris International by 14.3% during the 4th quarter. GQG Partners LLC now owns 48,746,809 shares of the company’s stock valued at $5,866,678,000 after buying an additional 6,092,558 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Philip Morris International during the fourth quarter worth $522,214,000. Kovitz Investment Group Partners LLC boosted its position in Philip Morris International by 372.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,453,285 shares of the company’s stock valued at $656,303,000 after purchasing an additional 4,298,530 shares during the last quarter. Capital World Investors boosted its position in Philip Morris International by 3.6% during the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company’s stock valued at $14,752,926,000 after purchasing an additional 4,216,586 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Philip Morris International by 9.9% in the fourth quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company’s stock valued at $4,241,837,000 after purchasing an additional 3,185,258 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Up 0.5%

Shares of PM stock opened at $174.10 on Wednesday. Philip Morris International Inc. has a 12 month low of $98.93 and a 12 month high of $176.49. The company has a market cap of $270.99 billion, a PE ratio of 38.60, a price-to-earnings-growth ratio of 2.65 and a beta of 0.50. The business’s 50 day moving average is $161.26 and its two-hundred day moving average is $142.92.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.08. The business had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.10 billion. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. Philip Morris International’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.50 EPS. As a group, equities analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date was Thursday, March 20th. Philip Morris International’s dividend payout ratio (DPR) is currently 111.34%.

Analysts Set New Price Targets

PM has been the topic of several research reports. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research report on Thursday, April 24th. Argus upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, March 14th. Stifel Nicolaus raised their price objective on shares of Philip Morris International from $168.00 to $186.00 and gave the company a “buy” rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. lifted their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Finally, Barclays increased their price target on shares of Philip Morris International from $175.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $166.33.

Insiders Place Their Bets

In other Philip Morris International news, CFO Emmanuel Babeau sold 30,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $148.85, for a total value of $4,465,500.00. Following the sale, the chief financial officer now directly owns 139,105 shares in the company, valued at $20,705,779.25. This trade represents a 17.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Werner Barth sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $148.67, for a total transaction of $1,486,700.00. Following the transaction, the insider now owns 106,244 shares in the company, valued at approximately $15,795,295.48. The trade was a 8.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 126,822 shares of company stock valued at $18,906,185 in the last three months. Company 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.