Fred Alger Management LLC Has $3.93 Million Stock Position in Philip Morris International Inc. (NYSE:PM)

Fred Alger Management LLC lifted its holdings in Philip Morris International Inc. (NYSE:PM) by 4.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,390 shares of the company’s stock after purchasing an additional 1,492 shares during the period. Fred Alger Management LLC’s holdings in Philip Morris International were worth $3,932,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PM. 49 Wealth Management LLC increased its holdings 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 valued at $295,000 after acquiring an additional 84 shares during the last quarter. Woodmont Investment Counsel LLC raised its position in shares of Philip Morris International by 1.6% in the third quarter. Woodmont Investment Counsel LLC now owns 5,452 shares of the company’s stock valued at $662,000 after purchasing an additional 86 shares during the period. YHB Investment Advisors Inc. raised its position in shares of Philip Morris International by 4.2% in the third quarter. YHB Investment Advisors Inc. now owns 2,158 shares of the company’s stock valued at $262,000 after purchasing an additional 87 shares during the period. Longfellow Investment Management Co. LLC lifted its stake in shares of Philip Morris International by 0.7% in 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 last quarter. Finally, Dearborn Partners LLC boosted its holdings in shares of Philip Morris International by 3.2% during the 2nd 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 Stock Up 0.9 %

Philip Morris International stock opened at $133.06 on Friday. The business’s 50-day simple moving average is $125.74 and its 200 day simple moving average is $115.88. The stock has a market cap of $206.89 billion, a price-to-earnings ratio of 21.12, a P/E/G ratio of 2.33 and a beta of 0.54. 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 posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The business had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. During the same period in the previous year, the firm posted $1.67 earnings per share. Philip Morris International’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, sell-side analysts expect that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were given a $1.35 dividend. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.06%. The ex-dividend date was Thursday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is currently 85.71%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PM shares. JPMorgan Chase & Co. boosted their price objective on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Bank of America lifted their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 price target (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. UBS Group raised their price objective 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. Finally, Citigroup lifted their price target on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $131.50.

Insider Buying and Selling

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the firm’s 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 transaction, the insider now owns 95,418 shares in the company, valued at approximately $12,402,431.64. This trade represents a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total value of $13,234,052.30. Following the transaction, the chairman now owns 959,761 shares of the company’s stock, valued at $124,624,965.85. The trade was a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is 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.