60,416 Shares in Philip Morris International Inc. (NYSE:PM) Acquired by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd bought a new stake in shares of Philip Morris International Inc. (NYSE:PM) during the third quarter, HoldingsChannel reports. The fund bought 60,416 shares of the company’s stock, valued at approximately $7,334,000.

Other hedge funds also recently bought and sold shares of the company. Paradigm Capital Management LLC NV purchased a new stake in shares of Philip Morris International in the third quarter valued at $905,000. Erste Asset Management GmbH purchased a new stake in Philip Morris International during the 3rd quarter worth about $1,077,000. Cobblestone Capital Advisors LLC NY raised its stake in Philip Morris International by 9.2% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 4,508 shares of the company’s stock valued at $547,000 after purchasing an additional 381 shares during the last quarter. Edgestream Partners L.P. lifted its holdings in Philip Morris International by 144.5% in the 3rd quarter. Edgestream Partners L.P. now owns 13,172 shares of the company’s stock valued at $1,599,000 after purchasing an additional 7,784 shares in the last quarter. Finally, Acropolis Investment Management LLC boosted its stake in shares of Philip Morris International by 7.3% during the 3rd quarter. Acropolis Investment Management LLC now owns 1,470 shares of the company’s stock worth $178,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PM. The Goldman Sachs Group boosted their price objective on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Citigroup increased 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. UBS Group lifted their price objective on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their target price on Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Bank of America raised their price target 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $131.50.

Insider Activity at Philip Morris International

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

Philip Morris International Price Performance

Shares of NYSE:PM opened at $133.06 on Friday. The business has a 50-day moving average of $125.74 and a two-hundred day moving average of $115.88. The firm has a market capitalization of $206.89 billion, a PE ratio of 21.12, a P/E/G ratio of 2.33 and a beta of 0.54. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $134.15.

Philip Morris International (NYSE:PM) last posted its 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. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The firm had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. During the same quarter in the prior year, the company earned $1.67 EPS. The company’s revenue was up 8.4% on a year-over-year basis. As a group, research analysts anticipate that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date was Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is currently 85.71%.

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.