Philip Morris International Inc. (NYSE:PM) Shares Bought by Bridges Investment Management Inc.

Bridges Investment Management Inc. grew its position in Philip Morris International Inc. (NYSE:PM) by 57.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 74,541 shares of the company’s stock after acquiring an additional 27,337 shares during the quarter. Bridges Investment Management Inc.’s holdings in Philip Morris International were worth $7,553,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in PM. GQG Partners LLC grew its holdings in shares of Philip Morris International by 5,006.0% during the first quarter. GQG Partners LLC now owns 5,958,391 shares of the company’s stock valued at $545,908,000 after purchasing an additional 5,841,696 shares during the last quarter. Capital Research Global Investors boosted its position in Philip Morris International by 9.1% during the 4th quarter. Capital Research Global Investors now owns 58,416,175 shares of the company’s stock valued at $5,495,794,000 after purchasing an additional 4,869,272 shares during the period. Lone Pine Capital LLC bought a new position in Philip Morris International during the 4th quarter worth $282,785,000. Massachusetts Financial Services Co. MA increased its position in Philip Morris International by 79.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,878,158 shares of the company’s stock worth $595,634,000 after buying an additional 2,599,684 shares during the period. Finally, Van ECK Associates Corp lifted its stake in Philip Morris International by 5,045.1% in the first quarter. Van ECK Associates Corp now owns 2,122,729 shares of the company’s stock valued at $194,484,000 after buying an additional 2,081,472 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Performance

Shares of PM stock opened at $119.77 on Friday. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $128.22. The business’s fifty day moving average is $117.87 and its 200-day moving average is $104.35. The stock has a market cap of $186.19 billion, a PE ratio of 23.39, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The firm had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period in the previous year, the company earned $1.60 earnings per share. Philip Morris International’s revenue was up 5.6% compared to the same quarter last year. Equities research analysts predict that Philip Morris International Inc. will post 6.45 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 26th will be paid a dividend of $1.35 per share. The ex-dividend date is Thursday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.51%. Philip Morris International’s dividend payout ratio is currently 105.47%.

Insider Buying and Selling

In other news, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the sale, the insider now directly owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total value of $2,260,200.00. Following the completion of the sale, the insider now owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.35, for a total value of $1,038,150.00. Following the transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on PM. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Barclays raised their price target on shares of Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. UBS Group lifted their price target on Philip Morris International from $95.00 to $105.00 and gave the company a “sell” rating in a report on Monday, September 9th. JPMorgan Chase & Co. increased their price objective on Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Bank of America lifted their target price on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $117.05.

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.