Drum Hill Capital LLC Purchases New Stake in Philip Morris International Inc. (NYSE:PM)

Drum Hill Capital LLC acquired a new position in shares of Philip Morris International Inc. (NYSE:PM) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,344 shares of the company’s stock, valued at approximately $282,000.

Several other hedge funds have also recently bought and sold shares of the company. FMR LLC grew its holdings in shares of Philip Morris International by 40.9% during the 3rd quarter. FMR LLC now owns 23,168,446 shares of the company’s stock valued at $2,812,649,000 after purchasing an additional 6,721,094 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Philip Morris International by 57.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock valued at $1,121,932,000 after buying an additional 3,363,454 shares in the last quarter. National Bank of Canada FI boosted its position in Philip Morris International by 161.6% in the third quarter. National Bank of Canada FI now owns 1,943,460 shares of the company’s stock valued at $235,936,000 after buying an additional 1,200,636 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Philip Morris International by 14,611.4% during the third quarter. Los Angeles Capital Management LLC now owns 1,173,531 shares of the company’s stock worth $142,467,000 after buying an additional 1,165,554 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Philip Morris International by 13,666.6% during the third quarter. International Assets Investment Management LLC now owns 999,729 shares of the company’s stock worth $121,367,000 after buying an additional 992,467 shares in the last quarter. 78.63% of the stock is owned by institutional investors.

Philip Morris International Trading Up 1.9 %

PM opened at $154.39 on Friday. The company has a fifty day moving average price of $129.81 and a two-hundred day moving average price of $126.36. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $154.64. The company has a market cap of $240.05 billion, a P/E ratio of 34.23, a price-to-earnings-growth ratio of 2.62 and a beta of 0.55.

Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, February 6th. The company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.06. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. On average, research analysts forecast that Philip Morris International Inc. will post 7.13 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, December 26th were paid a dividend of $1.35 per share. The ex-dividend date was Thursday, December 26th. This represents a $5.40 dividend on an annualized basis and a yield of 3.50%. Philip Morris International’s dividend payout ratio (DPR) is currently 119.73%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PM shares. UBS Group boosted their price objective on Philip Morris International from $105.00 to $120.00 and gave the stock a “sell” rating in a research report on Friday, February 7th. Stifel Nicolaus boosted their price target on Philip Morris International from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, February 7th. JPMorgan Chase & Co. raised their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Tuesday. Barclays reduced their target price on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, StockNews.com downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.22.

Insider Activity at Philip Morris International

In other news, insider Werner Barth sold 10,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $148.67, for a total transaction of $1,486,700.00. Following the completion of the sale, the insider now directly owns 106,244 shares of the company’s stock, valued at $15,795,295.48. This trade represents a 8.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Andre Calantzopoulos sold 40,643 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $149.06, for a total transaction of $6,058,245.58. Following the completion of the transaction, the chairman now directly owns 561,349 shares in the company, valued at $83,674,681.94. This trade represents a 6.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 128,143 shares of company stock valued at $19,092,846 over the last 90 days. Insiders own 0.13% of the company’s stock.

About Philip Morris International

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.