Dorsey Wright & Associates Takes Position in Philip Morris International Inc. (NYSE:PM)

Dorsey Wright & Associates bought a new position in Philip Morris International Inc. (NYSE:PM) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 24,626 shares of the company’s stock, valued at approximately $2,990,000.

Several other large investors have also added to or reduced their stakes in PM. Dunhill Financial LLC lifted its stake in Philip Morris International by 203.8% during the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock valued at $29,000 after acquiring an additional 161 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in shares of Philip Morris International by 5.1% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 189,541 shares of the company’s stock worth $23,010,000 after acquiring an additional 9,112 shares in the last quarter. Zacks Investment Management lifted its position in shares of Philip Morris International by 10.6% during the third quarter. Zacks Investment Management now owns 883,408 shares of the company’s stock valued at $107,246,000 after purchasing an additional 84,668 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new position in Philip Morris International during the third quarter worth about $112,137,000. Finally, iSAM Funds UK Ltd boosted its holdings in Philip Morris International by 9.4% during the third quarter. iSAM Funds UK Ltd now owns 3,087 shares of the company’s stock worth $375,000 after purchasing an additional 264 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Insider Transactions at Philip Morris International

In other Philip Morris International 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 value 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 trade represents a 9.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. The trade was a 7.29 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Philip Morris International Stock Performance

Shares of PM opened at $130.56 on Friday. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $134.15. The business has a 50-day moving average of $126.72 and a 200 day moving average of $116.95. The firm has a market cap of $203.00 billion, a P/E ratio of 20.72, a price-to-earnings-growth ratio of 2.28 and a beta of 0.53.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share 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 analyst estimates of $9.68 billion. During the same quarter last year, the business earned $1.67 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, 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 business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders 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 annualized dividend and a dividend yield of 4.14%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio is currently 85.71%.

Analysts Set New Price Targets

Several research firms have commented on PM. 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 report on Wednesday, October 23rd. Barclays lifted their price target on Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Citigroup upped their price objective on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Bank of America lifted their target price 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. Finally, JPMorgan Chase & Co. increased their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.