GCM Grosvenor Holdings LLC Takes Position in Philip Morris International Inc. (NYSE:PM)

GCM Grosvenor Holdings LLC acquired a new stake in shares of Philip Morris International Inc. (NYSE:PM) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 280,000 shares of the company’s stock, valued at approximately $28,372,000. Philip Morris International accounts for 4.2% of GCM Grosvenor Holdings LLC’s portfolio, making the stock its 5th biggest holding.

Other large investors also recently bought and sold shares of the company. Gilbert & Cook Inc. lifted its stake in shares of Philip Morris International by 3.8% during the 4th quarter. Gilbert & Cook Inc. now owns 10,946 shares of the company’s stock worth $1,030,000 after purchasing an additional 404 shares during the last quarter. Clearbridge Investments LLC purchased a new position in Philip Morris International during the fourth quarter worth approximately $460,000. Johnson Financial Group Inc. boosted its position in Philip Morris International by 41.4% during the fourth quarter. Johnson Financial Group Inc. now owns 1,742 shares of the company’s stock worth $166,000 after purchasing an additional 510 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its position in Philip Morris International by 2.6% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 7,648 shares of the company’s stock worth $720,000 after purchasing an additional 193 shares in the last quarter. Finally, Hilltop Holdings Inc. boosted its position in Philip Morris International by 1.4% during the fourth quarter. Hilltop Holdings Inc. now owns 27,813 shares of the company’s stock worth $2,617,000 after purchasing an additional 382 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PM shares. Stifel Nicolaus raised their target price on Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. raised their target price on Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. UBS Group increased 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. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and a consensus price target of $117.05.

Philip Morris International Stock Up 0.2 %

PM stock opened at $121.09 on Tuesday. The business has a fifty day moving average of $118.49 and a two-hundred day moving average of $104.97. The stock has a market cap of $188.24 billion, a price-to-earnings ratio of 23.65, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $128.22.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, beating 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 business had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the previous year, the firm posted $1.60 earnings per share. The company’s revenue was up 5.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.46%. Philip Morris International’s payout ratio is presently 105.47%.

Insider Activity

In related news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the transaction, the insider now directly owns 85,629 shares in the company, valued at $9,877,305.15. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the transaction, the insider now directly owns 85,629 shares in the company, valued at $9,877,305.15. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total value of $2,260,200.00. Following the completion of the transaction, the insider now owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

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.