Philip Morris International Inc. (NYSE:PM) Shares Purchased by Ridgepath Capital Management LLC

Ridgepath Capital Management LLC grew its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 3.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,192 shares of the company’s stock after acquiring an additional 1,446 shares during the period. Philip Morris International accounts for approximately 3.8% of Ridgepath Capital Management LLC’s investment portfolio, making the stock its 8th biggest holding. Ridgepath Capital Management LLC’s holdings in Philip Morris International were worth $4,758,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PM. GQG Partners LLC grew its stake in shares of Philip Morris International by 5,006.0% in the 1st quarter. GQG Partners LLC now owns 5,958,391 shares of the company’s stock valued at $545,908,000 after buying an additional 5,841,696 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Philip Morris International by 79.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,878,158 shares of the company’s stock valued at $595,634,000 after purchasing an additional 2,599,684 shares during the last quarter. Van ECK Associates Corp boosted its stake in Philip Morris International by 5,045.1% during the 1st quarter. Van ECK Associates Corp now owns 2,122,729 shares of the company’s stock valued at $194,484,000 after purchasing an additional 2,081,472 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Philip Morris International by 16.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock valued at $1,341,050,000 after purchasing an additional 1,856,551 shares during the last quarter. Finally, Capital Research Global Investors boosted its stake in Philip Morris International by 3.1% during the 1st quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock valued at $5,517,085,000 after purchasing an additional 1,800,864 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on PM shares. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Barclays lifted their target price on shares of Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. lifted their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group lifted their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Citigroup lifted their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $126.85.

Philip Morris International Stock Performance

Shares of NYSE:PM opened at $129.86 on Monday. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $133.27. The firm has a fifty day moving average of $122.50 and a 200 day moving average of $109.99. The firm has a market capitalization of $201.87 billion, a PE ratio of 25.36, a price-to-earnings-growth ratio of 2.57 and a beta of 0.55.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.09. The business had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. Philip Morris International had a net margin of 12.10% and a negative return on equity of 117.94%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.67 earnings per share. On average, sell-side analysts forecast that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were paid a $1.35 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.16%. Philip Morris International’s payout ratio is currently 105.47%.

Insiders Place Their Bets

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the business’s 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 completion of the sale, the insider now directly owns 95,418 shares of the company’s stock, valued at $12,402,431.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total value of $13,234,052.30. Following the completion of the transaction, the chairman now directly owns 959,761 shares of the company’s stock, valued at $124,624,965.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Werner Barth sold 7,500 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total transaction of $974,850.00. Following the completion of the transaction, the insider now directly owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 118,418 shares of company stock valued at $15,247,052 over the last three months. 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.