GAMMA Investing LLC Purchases 2,129 Shares of Philip Morris International Inc. (NYSE:PM)

GAMMA Investing LLC grew its position in Philip Morris International Inc. (NYSE:PM) by 10.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,338 shares of the company’s stock after purchasing an additional 2,129 shares during the quarter. GAMMA Investing LLC’s holdings in Philip Morris International were worth $2,688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC lifted its position in shares of Philip Morris International by 40.9% in the third quarter. FMR LLC now owns 23,168,446 shares of the company’s stock valued at $2,812,649,000 after acquiring an additional 6,721,094 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Philip Morris International by 57.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock worth $1,121,932,000 after purchasing an additional 3,363,454 shares in the last quarter. National Bank of Canada FI boosted its stake in Philip Morris International by 161.6% in the 3rd quarter. National Bank of Canada FI now owns 1,943,460 shares of the company’s stock worth $235,936,000 after purchasing an additional 1,200,636 shares during the period. Los Angeles Capital Management LLC grew its holdings in Philip Morris International by 14,611.4% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,173,531 shares of the company’s stock valued at $142,467,000 after buying an additional 1,165,554 shares in the last quarter. Finally, Wulff Hansen & CO. raised its position in shares of Philip Morris International by 10,033.0% during the second quarter. Wulff Hansen & CO. now owns 1,039,646 shares of the company’s stock valued at $105,347,000 after buying an additional 1,029,386 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PM shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. The Goldman Sachs Group boosted their target price on Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Citigroup raised their price target on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Barclays upped their price objective on Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $131.50.

Philip Morris International Trading Up 0.6 %

Shares of PM opened at $121.10 on Friday. The company’s fifty day simple moving average is $127.81 and its 200-day simple moving average is $119.75. The company has a market cap of $188.29 billion, a P/E ratio of 19.22, a P/E/G ratio of 2.22 and a beta of 0.53. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The company had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.68 billion. During the same period in the prior year, the company posted $1.67 EPS. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. Analysts predict that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, December 26th will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend is Thursday, December 26th. Philip Morris International’s dividend payout ratio (DPR) is presently 85.71%.

Insiders Place Their Bets

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total value of $13,234,052.30. Following the transaction, the chairman now owns 959,761 shares of the company’s stock, valued at $124,624,965.85. This represents a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the sale, the insider now directly owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. This trade represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

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.