Segall Bryant & Hamill LLC Makes New $3.78 Million Investment in Philip Morris International Inc. (NYSE:PM)

Segall Bryant & Hamill LLC bought a new position in shares of Philip Morris International Inc. (NYSE:PM) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 31,160 shares of the company’s stock, valued at approximately $3,783,000.

A number of other institutional investors have also recently modified their holdings of the business. Bank of New York Mellon Corp boosted its position in Philip Morris International by 16.3% during 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 in the last quarter. First Eagle Investment Management LLC lifted its position in shares of Philip Morris International by 7.4% during the 2nd quarter. First Eagle Investment Management LLC now owns 10,655,948 shares of the company’s stock valued at $1,079,767,000 after buying an additional 736,961 shares in the last quarter. Legal & General Group Plc grew its stake in Philip Morris International by 4.7% in 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 acquiring an additional 469,806 shares during the period. Ninety One UK Ltd increased its holdings in Philip Morris International by 0.9% in the 2nd quarter. Ninety One UK Ltd now owns 9,467,759 shares of the company’s stock worth $959,368,000 after acquiring an additional 86,667 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Philip Morris International by 79.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,878,158 shares of the company’s stock worth $595,634,000 after acquiring an additional 2,599,684 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Trading Down 0.9 %

Shares of PM opened at $129.99 on Friday. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $134.15. The firm has a market capitalization of $202.11 billion, a P/E ratio of 20.63, a P/E/G ratio of 2.27 and a beta of 0.54. The firm has a 50-day moving average price of $124.77 and a 200 day moving average price of $114.62.

Philip Morris International (NYSE:PM) last announced its quarterly 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 the consensus estimate of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. During the same quarter last year, the firm earned $1.67 EPS. The business’s revenue was up 8.4% compared to the same quarter last year. Equities research analysts predict that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.15%. 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 (DPR) is presently 85.71%.

Insider Activity at Philip Morris International

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction dated 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 transaction, the chairman now owns 959,761 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Also, insider Werner Barth sold 7,500 shares of Philip Morris International 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 directly owns 95,418 shares of the company’s stock, valued at approximately $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. 0.13% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Stifel Nicolaus reissued a “buy” rating and set a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Bank of America boosted their price objective on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. The Goldman Sachs Group increased their target price on Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Citigroup lifted their price target on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Barclays increased their price objective on Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International presently has a consensus rating of “Moderate Buy” and an average target price of $131.50.

About Philip Morris International

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.