Stevens Capital Management LP Purchases 6,369 Shares of Philip Morris International Inc. (NYSE:PM)

Stevens Capital Management LP lifted its position in Philip Morris International Inc. (NYSE:PM) by 246.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,953 shares of the company’s stock after acquiring an additional 6,369 shares during the quarter. Stevens Capital Management LP’s holdings in Philip Morris International were worth $1,087,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. 49 Wealth Management LLC raised its position in shares of Philip Morris International by 3.6% during the 3rd quarter. 49 Wealth Management LLC now owns 2,432 shares of the company’s stock worth $295,000 after acquiring an additional 84 shares in the last quarter. Woodmont Investment Counsel LLC raised its position in shares of Philip Morris International by 1.6% during the 3rd quarter. Woodmont Investment Counsel LLC now owns 5,452 shares of the company’s stock worth $662,000 after acquiring an additional 86 shares in the last quarter. YHB Investment Advisors Inc. increased its position in Philip Morris International by 4.2% during the third quarter. YHB Investment Advisors Inc. now owns 2,158 shares of the company’s stock worth $262,000 after buying an additional 87 shares during the period. Longfellow Investment Management Co. LLC increased its position in Philip Morris International by 0.7% during the second quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock worth $1,306,000 after buying an additional 88 shares during the period. Finally, Dearborn Partners LLC increased its position in Philip Morris International by 3.2% during the second quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock worth $291,000 after buying an additional 89 shares during the period. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Price Performance

Shares of NYSE:PM opened at $130.48 on Thursday. The firm has a market capitalization of $202.87 billion, a PE ratio of 20.71, a P/E/G ratio of 2.27 and a beta of 0.53. The business has a 50-day moving average of $126.29 and a two-hundred day moving average of $116.51. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $134.15.

Philip Morris International (NYSE:PM) last issued its 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. 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 during the quarter, compared to the consensus estimate of $9.68 billion. During the same quarter in the prior year, the business earned $1.67 earnings per share. The company’s revenue was up 8.4% compared to the same quarter last year. As a group, research analysts anticipate that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were issued a $1.35 dividend. The ex-dividend date was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.14%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio is currently 85.71%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PM shares. Bank of America lifted their price target on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Citigroup lifted their target price on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Barclays lifted their target price on Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 target price (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lifted their target price on Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $131.50.

Insider Activity at Philip Morris International

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the sale, the chairman now owns 959,761 shares in the company, valued at $124,624,965.85. This represents a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Werner Barth sold 7,500 shares of the company’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 value of $974,850.00. Following the sale, the insider now owns 95,418 shares in the company, valued at $12,402,431.64. The trade was a 7.29 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

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.