Sweeney & Michel LLC Makes New $477,000 Investment in Philip Morris International Inc. (NYSE:PM)

Sweeney & Michel LLC bought a new position in Philip Morris International Inc. (NYSE:PM) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,193 shares of the company’s stock, valued at approximately $477,000.

A number of other hedge funds have also added to or reduced their stakes in the business. GQG Partners LLC grew its stake in Philip Morris International by 14.3% in the fourth quarter. GQG Partners LLC now owns 48,746,809 shares of the company’s stock valued at $5,866,678,000 after acquiring an additional 6,092,558 shares during the period. GAMMA Investing LLC boosted its position in shares of Philip Morris International by 19,986.5% during the first quarter. GAMMA Investing LLC now owns 4,486,928 shares of the company’s stock valued at $712,210,000 after buying an additional 4,464,590 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Philip Morris International in the fourth quarter worth $522,214,000. Kovitz Investment Group Partners LLC boosted its position in Philip Morris International by 372.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,453,285 shares of the company’s stock worth $656,303,000 after purchasing an additional 4,298,530 shares during the last quarter. Finally, Capital World Investors boosted its position in Philip Morris International by 3.6% in the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company’s stock worth $14,752,926,000 after purchasing an additional 4,216,586 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PM shares. JPMorgan Chase & Co. boosted their price objective on Philip Morris International from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. UBS Group upgraded Philip Morris International from a “sell” rating to a “neutral” rating and increased their target price for the company from $130.00 to $170.00 in a report on Friday, April 25th. Wall Street Zen cut Philip Morris International from a “buy” rating to a “hold” rating in a report on Friday. Argus upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Friday, March 14th. Finally, Citigroup lifted their price target on Philip Morris International from $163.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $169.20.

Philip Morris International Price Performance

PM stock opened at $180.74 on Monday. Philip Morris International Inc. has a 1-year low of $98.93 and a 1-year high of $181.36. The business has a fifty day moving average price of $165.26 and a 200-day moving average price of $145.89. The stock has a market capitalization of $281.32 billion, a P/E ratio of 40.08, a P/E/G ratio of 2.65 and a beta of 0.50.

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

Philip Morris International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.99%. The ex-dividend date was Thursday, March 20th. Philip Morris International’s dividend payout ratio is currently 111.34%.

Insider Transactions at Philip Morris International

In related news, insider Lars Dahlgren sold 3,679 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 26,828 shares in the company, valued at approximately $4,103,610.88. This represents a 12.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.13% of the company’s stock.

Philip Morris International 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.