1,533,340 Shares in Philip Morris International Inc. (NYSE:PM) Acquired by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC bought a new stake in shares of Philip Morris International Inc. (NYSE:PM) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,533,340 shares of the company’s stock, valued at approximately $155,373,000. Philip Morris International makes up 1.8% of Manning & Napier Advisors LLC’s portfolio, making the stock its 16th biggest position.

A number of other hedge funds have also made changes to their positions in the stock. Bank of Nova Scotia lifted its holdings in shares of Philip Morris International by 283.5% during the 4th quarter. Bank of Nova Scotia now owns 1,186,082 shares of the company’s stock valued at $111,583,000 after buying an additional 876,790 shares during the last quarter. Diversify Advisory Services LLC bought a new stake in Philip Morris International in the first quarter worth approximately $5,634,000. Axxcess Wealth Management LLC raised its holdings in shares of Philip Morris International by 25.4% during the 1st quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock valued at $3,151,000 after purchasing an additional 6,974 shares in the last quarter. Gilliland Jeter Wealth Management LLC acquired a new stake in shares of Philip Morris International in the 4th quarter valued at $1,251,000. Finally, Nebula Research & Development LLC bought a new stake in Philip Morris International in the fourth quarter worth $857,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Trading Down 0.2 %

NYSE:PM traded down $0.28 during trading hours on Friday, hitting $116.01. 3,814,624 shares of the company traded hands, compared to its average volume of 5,408,644. The stock has a market capitalization of $180.34 billion, a price-to-earnings ratio of 22.71, a P/E/G ratio of 2.35 and a beta of 0.58. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $119.06. The firm has a 50-day moving average of $106.06 and a 200 day moving average of $97.84.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. The company had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $9.19 billion. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The firm’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 EPS. Equities research analysts predict that Philip Morris International Inc. will post 6.41 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Friday, June 21st were paid a $1.30 dividend. The ex-dividend date was Friday, June 21st. This represents a $5.20 annualized dividend and a dividend yield of 4.48%. Philip Morris International’s dividend payout ratio is currently 101.56%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Bank of America upped their price target on Philip Morris International from $110.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Stifel Nicolaus increased their price target on Philip Morris International from $115.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. lifted their target price on shares of 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 issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.80.

Insider Transactions at Philip Morris International

In related news, insider Wilde Frederic De sold 20,000 shares of the business’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 owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.13% of the stock is currently owned by insiders.

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.