Philip Morris International Inc. (NYSE:PM) Shares Bought by Seven Eight Capital LP

Seven Eight Capital LP increased its position in Philip Morris International Inc. (NYSE:PM) by 178.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,238 shares of the company’s stock after acquiring an additional 15,519 shares during the period. Seven Eight Capital LP’s holdings in Philip Morris International were worth $2,456,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Philip Morris International by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 136,556,344 shares of the company’s stock valued at $12,511,292,000 after acquiring an additional 481,636 shares during the last quarter. Capital World Investors boosted its stake in shares of Philip Morris International by 1.5% during the first quarter. Capital World Investors now owns 111,247,656 shares of the company’s stock valued at $10,192,510,000 after acquiring an additional 1,684,992 shares during the last quarter. Capital Research Global Investors grew its stake in Philip Morris International by 3.1% in the 1st quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock worth $5,517,085,000 after acquiring an additional 1,800,864 shares during the period. Bank of New York Mellon Corp lifted its position in Philip Morris International by 16.3% during the second quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock worth $1,341,050,000 after buying an additional 1,856,551 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Philip Morris International by 0.6% in the fourth quarter. Northern Trust Corp now owns 13,126,737 shares of the company’s stock worth $1,234,963,000 after acquiring an additional 77,820 shares during the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PM. Stifel Nicolaus lifted their price target on shares of Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. UBS Group upped their price target on Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a research note on Monday, September 9th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Finally, Barclays lifted their price objective on Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Philip Morris International presently has an average rating of “Moderate Buy” and an average price target of $117.05.

Philip Morris International Price Performance

NYSE:PM opened at $123.23 on Wednesday. The stock has a market cap of $191.57 billion, a P/E ratio of 24.07, a PEG ratio of 2.45 and a beta of 0.55. The company has a fifty day moving average price of $117.21 and a 200 day moving average price of $104.13. Philip Morris International Inc. has a one year low of $87.23 and a one year high of $128.22.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate 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 posted $1.60 earnings per share. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th will be paid a dividend of $1.35 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.38%. Philip Morris International’s dividend payout ratio (DPR) is currently 101.56%.

Insider Transactions at Philip Morris International

In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were 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 is available through this link. In other 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 sale, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $17,906,095.47. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

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.