Alpha DNA Investment Management LLC Reduces Stake in Philip Morris International Inc. (NYSE:PM)

Alpha DNA Investment Management LLC decreased its position in Philip Morris International Inc. (NYSE:PM) by 5.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,591 shares of the company’s stock after selling 1,235 shares during the quarter. Philip Morris International makes up approximately 0.9% of Alpha DNA Investment Management LLC’s portfolio, making the stock its 9th largest position. Alpha DNA Investment Management LLC’s holdings in Philip Morris International were worth $2,378,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PM. Larson Financial Group LLC lifted its holdings in Philip Morris International by 227.0% during the third quarter. Larson Financial Group LLC now owns 9,100 shares of the company’s stock worth $1,105,000 after acquiring an additional 6,317 shares during the period. Managed Asset Portfolios LLC increased its position in shares of Philip Morris International by 5.2% during the 3rd quarter. Managed Asset Portfolios LLC now owns 15,630 shares of the company’s stock valued at $1,898,000 after purchasing an additional 768 shares during the last quarter. Sompo Asset Management Co. Ltd. raised its stake in shares of Philip Morris International by 18.9% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 7,470 shares of the company’s stock worth $907,000 after purchasing an additional 1,190 shares during the period. StoneX Group Inc. raised its stake in shares of Philip Morris International by 5.3% during the 3rd quarter. StoneX Group Inc. now owns 30,628 shares of the company’s stock worth $3,760,000 after purchasing an additional 1,550 shares during the period. Finally, Towercrest Capital Management purchased a new position in shares of Philip Morris International in the 3rd quarter worth about $476,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s stock in a transaction 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 sale, the chairman now owns 959,761 shares in the company, valued at approximately $124,624,965.85. This trade represents a 9.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was 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 $12,402,431.64. This trade represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Philip Morris International Price Performance

Philip Morris International stock opened at $129.99 on Friday. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $134.15. The firm has a market capitalization of $202.11 billion, a P/E ratio of 20.63, a PEG ratio of 2.30 and a beta of 0.54. The business has a fifty day moving average price of $124.77 and a 200-day moving average price of $114.74.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.09. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The business had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. During the same quarter in the previous year, the firm earned $1.67 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. Sell-side analysts expect that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date was Thursday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio is 85.71%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PM shares. Citigroup raised their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Barclays raised their price target on shares of Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 price objective (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Bank of America increased their price objective on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, The Goldman Sachs Group boosted their target price on 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 equities research 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $131.50.

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.