Harber Asset Management LLC Has $9.82 Million Stock Position in Philip Morris International Inc. (NYSE:PM)

Harber Asset Management LLC decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 68.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,850 shares of the company’s stock after selling 173,573 shares during the quarter. Philip Morris International comprises approximately 2.9% of Harber Asset Management LLC’s investment portfolio, making the stock its 17th biggest holding. Harber Asset Management LLC’s holdings in Philip Morris International were worth $9,815,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PM. FMR LLC grew its holdings in shares of Philip Morris International by 40.9% in the third quarter. FMR LLC now owns 23,168,446 shares of the company’s stock valued at $2,812,649,000 after acquiring an additional 6,721,094 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of 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 worth $1,121,932,000 after buying an additional 3,363,454 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Philip Morris International by 16.3% in 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 acquiring an additional 1,856,551 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in Philip Morris International in the 2nd quarter worth about $155,373,000. Finally, Los Angeles Capital Management LLC grew its stake in Philip Morris International by 14,611.4% in the third quarter. Los Angeles Capital Management LLC now owns 1,173,531 shares of the company’s stock valued at $142,467,000 after purchasing an additional 1,165,554 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PM. UBS Group upped their target price on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a report on Wednesday, October 23rd. Barclays increased their target price on Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective 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. Stifel Nicolaus reaffirmed a “buy” rating and set a $145.00 price target (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $131.50.

Insider Buying and Selling

In other 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 transaction of $974,850.00. Following 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 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total value of $13,234,052.30. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.

Philip Morris International Stock Down 1.6 %

Philip Morris International stock opened at $130.99 on Tuesday. The firm has a market cap of $203.67 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 2.33 and a beta of 0.53. The company’s 50 day moving average is $125.74 and its two-hundred day moving average is $115.99. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $134.15.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.09. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The company had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.68 billion. During the same period last year, the company earned $1.67 earnings per share. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts anticipate that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were paid a $1.35 dividend. The ex-dividend date was Thursday, September 26th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.12%. Philip Morris International’s dividend payout ratio (DPR) is presently 85.71%.

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.