Bronte Capital Management Pty Ltd. Has $66.69 Million Stock Position in Philip Morris International Inc. (NYSE:PM)

Bronte Capital Management Pty Ltd. increased its stake in Philip Morris International Inc. (NYSE:PM) by 1.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 549,299 shares of the company’s stock after buying an additional 5,756 shares during the quarter. Philip Morris International comprises about 5.8% of Bronte Capital Management Pty Ltd.’s holdings, making the stock its 7th biggest position. Bronte Capital Management Pty Ltd.’s holdings in Philip Morris International were worth $66,685,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. White Lighthouse Investment Management Inc. raised its position in Philip Morris International by 71.4% in the third quarter. White Lighthouse Investment Management Inc. now owns 11,999 shares of the company’s stock worth $1,457,000 after acquiring an additional 4,999 shares in the last quarter. Axxcess Wealth Management LLC grew its stake in shares of Philip Morris International by 25.4% in the 1st quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock worth $3,151,000 after purchasing an additional 6,974 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Philip Morris International by 17.9% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 31,591 shares of the company’s stock worth $3,203,000 after purchasing an additional 4,793 shares in the last quarter. Kennebec Savings Bank acquired a new stake in Philip Morris International during the third quarter valued at approximately $692,000. Finally, Burke & Herbert Bank & Trust Co. lifted its stake in Philip Morris International by 68.0% during the second quarter. Burke & Herbert Bank & Trust Co. now owns 20,896 shares of the company’s stock valued at $2,117,000 after purchasing an additional 8,455 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Down 1.0 %

Shares of Philip Morris International stock opened at $124.99 on Tuesday. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $134.15. The stock has a market capitalization of $194.34 billion, a P/E ratio of 19.84, a PEG ratio of 2.21 and a beta of 0.54. The stock has a 50 day moving average price of $124.24 and a two-hundred day moving average price of $112.81.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $9.68 billion. During the same period in the previous year, the company posted $1.67 earnings per share. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. Sell-side analysts anticipate that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 4.32%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is currently 85.71%.

Analyst Upgrades and Downgrades

PM has been the topic of several research reports. Barclays upped their price target on Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Citigroup upped their target price on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price objective on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Bank of America raised their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.85.

Insider Transactions at Philip Morris International

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was 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 owns 95,418 shares of the company’s stock, valued at $12,402,431.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction dated 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 directly owns 959,761 shares in the company, valued at approximately $124,624,965.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

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.