Passive Capital Management LLC. Invests $211,000 in Philip Morris International Inc. (NYSE:PM)

Passive Capital Management LLC. bought a new stake in shares of Philip Morris International Inc. (NYSE:PM) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,087 shares of the company’s stock, valued at approximately $211,000.

Several other hedge funds have also recently added to or reduced their stakes in PM. GQG Partners LLC grew its stake in 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 worth $545,908,000 after purchasing an additional 5,841,696 shares during the period. Lone Pine Capital LLC bought a new position in shares of Philip Morris International in the fourth quarter valued at approximately $282,785,000. Massachusetts Financial Services Co. MA boosted its position in shares of Philip Morris International by 79.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,878,158 shares of the company’s stock valued at $595,634,000 after buying an additional 2,599,684 shares during the last quarter. Van ECK Associates Corp grew its holdings in Philip Morris International by 5,045.1% during the first quarter. Van ECK Associates Corp now owns 2,122,729 shares of the company’s stock worth $194,484,000 after buying an additional 2,081,472 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Philip Morris International by 16.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock valued at $1,341,050,000 after buying an additional 1,856,551 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

Shares of NYSE PM opened at $119.60 on Thursday. Philip Morris International Inc. has a one year low of $87.23 and a one year high of $128.22. The stock has a market capitalization of $185.93 billion, a P/E ratio of 23.36, a PEG ratio of 2.37 and a beta of 0.55. The firm’s 50 day simple moving average is $120.26 and its two-hundred day simple moving average is $106.20.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. The firm had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the firm earned $1.60 earnings per share. As a group, equities analysts expect that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date is Thursday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is 105.47%.

Insider Activity

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction that occurred 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 sale, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Wilde Frederic De sold 20,000 shares of the company’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 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 SEC, which is available through the SEC website. Also, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the sale, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on PM. Bank of America boosted their price objective on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Stifel Nicolaus lifted their price objective on Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. raised their price target on Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and an average price target of $121.45.

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.