Stonebrook Private Inc. Boosts Holdings in Philip Morris International Inc. (NYSE:PM)

Stonebrook Private Inc. raised its holdings in Philip Morris International Inc. (NYSE:PM) by 4.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,727 shares of the company’s stock after purchasing an additional 126 shares during the quarter. Stonebrook Private Inc.’s holdings in Philip Morris International were worth $331,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in PM. Massachusetts Financial Services Co. MA boosted its stake in shares of Philip Morris International by 57.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock worth $1,121,932,000 after acquiring an additional 3,363,454 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Philip Morris International by 16.3% during the 2nd 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 last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Philip Morris International during the 2nd quarter worth about $155,373,000. Los Angeles Capital Management LLC raised its position in shares of 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 worth $142,467,000 after purchasing an additional 1,165,554 shares during the last quarter. Finally, Raymond James & Associates raised its position in shares of Philip Morris International by 52.0% during the 2nd quarter. Raymond James & Associates now owns 3,296,626 shares of the company’s stock worth $334,047,000 after purchasing an additional 1,127,286 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Price Performance

Shares of NYSE PM opened at $129.99 on Friday. The company has a 50 day simple moving average of $124.77 and a 200-day simple moving average of $114.62. The company has a market capitalization of $202.11 billion, a P/E ratio of 20.63, a P/E/G ratio of 2.30 and a beta of 0.54. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $134.15.

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%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.67 EPS. As a group, research analysts expect that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The business 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. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.15%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is presently 85.71%.

Insider Buying and Selling

In related news, insider Werner Barth sold 7,500 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the completion of the transaction, the insider now owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. This trade represents a 7.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the transaction, the chairman now directly owns 959,761 shares of the company’s stock, valued at $124,624,965.85. This represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Bank of America upped their price target 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. UBS Group upped their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research report on Wednesday, October 23rd. Citigroup upped their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. upped their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a report 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 company. According to MarketBeat, the stock currently 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.