Coastwise Capital Group LLC Purchases 137 Shares of Philip Morris International Inc. (NYSE:PM)

Coastwise Capital Group LLC raised its position in Philip Morris International Inc. (NYSE:PM) by 3.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,129 shares of the company’s stock after purchasing an additional 137 shares during the period. Coastwise Capital Group LLC’s holdings in Philip Morris International were worth $501,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PM. FMR LLC grew its stake in Philip Morris International by 40.9% in the 3rd quarter. FMR LLC now owns 23,168,446 shares of the company’s stock worth $2,812,649,000 after buying an additional 6,721,094 shares in the last quarter. Bank of New York Mellon Corp grew its position in Philip Morris International by 16.3% in the second quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock worth $1,341,050,000 after acquiring an additional 1,856,551 shares in the last quarter. First Eagle Investment Management LLC grew its position in Philip Morris International by 7.4% in the second quarter. First Eagle Investment Management LLC now owns 10,655,948 shares of the company’s stock worth $1,079,767,000 after acquiring an additional 736,961 shares in the last quarter. Legal & General Group Plc raised its position in Philip Morris International by 4.7% during the second quarter. Legal & General Group Plc now owns 10,430,837 shares of the company’s stock valued at $1,056,957,000 after purchasing an additional 469,806 shares in the last quarter. Finally, Ninety One UK Ltd raised its position in Philip Morris International by 0.9% during the second quarter. Ninety One UK Ltd now owns 9,467,759 shares of the company’s stock valued at $959,368,000 after purchasing an additional 86,667 shares in the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PM shares. Deutsche Bank Aktiengesellschaft upped their target price on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. boosted 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 target price (up previously from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. UBS Group boosted their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research note on Wednesday, October 23rd. Finally, Citigroup upped their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $131.50.

Philip Morris International Stock Performance

NYSE:PM opened at $133.06 on Monday. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $134.15. The firm has a market capitalization of $206.89 billion, a PE ratio of 21.12, a P/E/G ratio of 2.33 and a beta of 0.54. The stock has a 50-day simple moving average of $125.74 and a two-hundred day simple moving average of $115.99.

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. The company 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 10.35% and a negative return on equity of 117.94%. Philip Morris International’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.67 EPS. Equities analysts forecast that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.06%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International’s payout ratio is 85.71%.

Insider Activity at Philip Morris International

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the business’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 directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.98, 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 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate 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.