Global Assets Advisory LLC Makes New $12.55 Million Investment in Philip Morris International Inc. (NYSE:PM)

Global Assets Advisory LLC acquired a new stake in Philip Morris International Inc. (NYSE:PM) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 136,977 shares of the company’s stock, valued at approximately $12,550,000.

A number of other hedge funds have also modified their holdings of PM. Dark Forest Capital Management LP acquired a new position in shares of Philip Morris International in the 3rd quarter valued at about $1,149,000. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Philip Morris International by 28.2% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 10,636 shares of the company’s stock valued at $985,000 after acquiring an additional 2,341 shares in the last quarter. Asset Dedication LLC boosted its position in Philip Morris International by 173.4% during the 3rd quarter. Asset Dedication LLC now owns 749 shares of the company’s stock worth $70,000 after purchasing an additional 475 shares during the period. Natixis Advisors L.P. increased its holdings in Philip Morris International by 7.8% in the 3rd quarter. Natixis Advisors L.P. now owns 866,767 shares of the company’s stock valued at $80,245,000 after purchasing an additional 63,080 shares in the last quarter. Finally, Operose Advisors LLC raised its position in Philip Morris International by 435.2% in the third quarter. Operose Advisors LLC now owns 1,734 shares of the company’s stock valued at $161,000 after purchasing an additional 1,410 shares during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on PM. Argus reaffirmed a “hold” rating on shares of Philip Morris International in a research note on Tuesday, March 5th. Stifel Nicolaus lifted their target price on Philip Morris International from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $104.22.

Philip Morris International Stock Up 2.0 %

Shares of NYSE PM opened at $101.90 on Tuesday. The stock’s 50 day moving average price is $99.24 and its two-hundred day moving average price is $94.69. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $104.90. The stock has a market capitalization of $158.41 billion, a P/E ratio of 19.90, a PEG ratio of 2.05 and a beta of 0.57.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.09. Philip Morris International had a negative return on equity of 113.26% and a net margin of 8.58%. The business had revenue of $8.79 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same period in the prior year, the company posted $1.38 EPS. The business’s revenue was up 8.6% compared to the same quarter last year. On average, analysts anticipate that Philip Morris International Inc. will post 6.32 EPS for the current year.

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Friday, June 21st will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, June 21st. This represents a $5.20 annualized dividend and a yield of 5.10%. Philip Morris International’s dividend payout ratio (DPR) is 101.56%.

Insiders Place Their Bets

In related news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $96.42, for a total value of $1,928,400.00. Following the sale, the insider now owns 178,447 shares of the company’s stock, valued at approximately $17,205,859.74. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Philip Morris International 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.