Swiss National Bank Buys 17,700 Shares of Philip Morris International Inc. (NYSE:PM)

by · The Markets Daily

Swiss National Bank boosted its stake in shares of Philip Morris International Inc. (NYSE:PM – Free Report) by 0.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,614,200 shares of the company’s stock after acquiring an additional 17,700 shares during the quarter. Swiss National Bank owned about 0.30% of Philip Morris International worth $560,164,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Woodmont Investment Counsel LLC increased its position in shares of Philip Morris International by 1.6% in the 3rd quarter. Woodmont Investment Counsel LLC now owns 5,452 shares of the company’s stock valued at $662,000 after acquiring an additional 86 shares during the period. YHB Investment Advisors Inc. boosted its holdings in Philip Morris International by 4.2% in the third quarter. YHB Investment Advisors Inc. now owns 2,158 shares of the company’s stock valued at $262,000 after purchasing an additional 87 shares during the last quarter. Longfellow Investment Management Co. LLC boosted its holdings in Philip Morris International by 0.7% in the second quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock valued at $1,306,000 after purchasing an additional 88 shares during the last quarter. Dearborn Partners LLC boosted its holdings in Philip Morris International by 3.2% in the second quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock valued at $291,000 after purchasing an additional 89 shares during the last quarter. Finally, Cypress Wealth Services LLC boosted its holdings in Philip Morris International by 1.3% in the third quarter. Cypress Wealth Services LLC now owns 6,748 shares of the company’s stock valued at $819,000 after purchasing an additional 89 shares during the last quarter. 78.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on PM shares. Citigroup upped their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upped their price target 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. Stifel Nicolaus reaffirmed a “buy” rating and issued a $145.00 price target (up from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Barclays increased their target price 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. Finally, The Goldman Sachs Group increased their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Philip Morris International presently has an average rating of “Moderate Buy” and a consensus price target of $131.50.

Get Our Latest Research Report on Philip Morris International

Philip Morris International Trading Up 0.3 %

Shares of Philip Morris International stock opened at $128.59 on Friday. The firm has a market capitalization of $199.94 billion, a PE ratio of 20.41, a P/E/G ratio of 2.25 and a beta of 0.54. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15. The firm’s 50-day moving average price is $124.30 and its 200 day moving average price is $113.57.

Philip Morris International (NYSE:PM – Get Free Report) last issued its quarterly 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. The firm had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. Philip Morris International’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $1.67 EPS. On average, sell-side analysts predict that Philip Morris International Inc. will post 6.51 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were paid a $1.35 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 4.20%. Philip Morris International’s dividend payout ratio (DPR) is currently 85.71%.

Insider Activity at Philip Morris International

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the sale, the insider now owns 95,418 shares in the company, valued at approximately $12,402,431.64. This represents a 7.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the 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 completion of the sale, the chairman now owns 959,761 shares of the company’s stock, valued at approximately $124,624,965.85. The trade was 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.

Philip Morris International Company Profile

(Free Report)

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.

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