Horizon Kinetics Asset Management LLC grew its stake in Philip Morris International Inc. (NYSE:PM – Free Report) by 68.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,344 shares of the company’s stock after purchasing an additional 15,630 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Philip Morris International were worth $4,655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in PM. Hancock Whitney Corp grew its holdings in Philip Morris International by 1,161.8% in the 3rd quarter. Hancock Whitney Corp now owns 79,332 shares of the company’s stock valued at $9,631,000 after buying an additional 73,045 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in shares of Philip Morris International by 7.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,894 shares of the company’s stock valued at $230,000 after acquiring an additional 129 shares during the last quarter. Blue Whale Capital LLP grew its holdings in shares of Philip Morris International by 1.4% in the third quarter. Blue Whale Capital LLP now owns 410,551 shares of the company’s stock valued at $49,841,000 after purchasing an additional 5,551 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in Philip Morris International during the third quarter worth about $356,000. Finally, Douglass Winthrop Advisors LLC raised its stake in Philip Morris International by 15.5% during the third quarter. Douglass Winthrop Advisors LLC now owns 24,834 shares of the company’s stock worth $3,015,000 after purchasing an additional 3,332 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.
Philip Morris International Stock Performance
Shares of PM opened at $129.99 on Monday. The company’s 50-day simple moving average is $124.77 and its 200-day simple moving average is $114.85. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $134.15. The stock has a market capitalization of $202.11 billion, a PE ratio of 20.63, a P/E/G ratio of 2.28 and a beta of 0.54.
Philip Morris International Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 4.15%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date was Thursday, September 26th. Philip Morris International’s payout ratio is presently 85.71%.
Insiders Place Their Bets
In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the sale, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the transaction, the chairman now directly owns 959,761 shares in the company, valued at $124,624,965.85. This trade represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on PM shares. Deutsche Bank Aktiengesellschaft increased their price target 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. Barclays raised their target price on Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Bank of America upped their price target on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. JPMorgan Chase & Co. boosted their price objective on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, UBS Group increased their target price on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have assigned 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 an average price target of $131.50.
Read Our Latest Report on Philip Morris International
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.
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