Philip Morris International Inc. (NYSE:PM) Shares Purchased by Pine Valley Investments Ltd Liability Co

Pine Valley Investments Ltd Liability Co increased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 225.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,379 shares of the company’s stock after buying an additional 16,194 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Philip Morris International were worth $2,841,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. White Lighthouse Investment Management Inc. increased its position in Philip Morris International by 71.4% during the third quarter. White Lighthouse Investment Management Inc. now owns 11,999 shares of the company’s stock worth $1,457,000 after purchasing an additional 4,999 shares during the last quarter. Accredited Investors Inc. increased its stake in Philip Morris International by 3,553.3% during the third quarter. Accredited Investors Inc. now owns 206,959 shares of the company’s stock worth $25,125,000 after acquiring an additional 201,294 shares during the last quarter. Kennebec Savings Bank purchased a new position in shares of Philip Morris International in the 3rd quarter worth about $692,000. Swiss National Bank lifted its stake in shares of Philip Morris International by 0.4% in the 3rd quarter. Swiss National Bank now owns 4,614,200 shares of the company’s stock valued at $560,164,000 after purchasing an additional 17,700 shares in the last quarter. Finally, Brooklyn Investment Group grew its holdings in shares of Philip Morris International by 182.4% during the 3rd quarter. Brooklyn Investment Group now owns 6,815 shares of the company’s stock worth $827,000 after purchasing an additional 4,402 shares during the period. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Trading Down 1.7 %

PM stock opened at $126.82 on Thursday. The company has a market capitalization of $197.18 billion, a P/E ratio of 20.13, a PEG ratio of 2.29 and a beta of 0.53. The firm has a 50 day simple moving average of $127.18 and a 200-day simple moving average of $117.54. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15.

Philip Morris International (NYSE:PM) last released 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 net margin of 10.35% and a negative return on equity of 117.94%. 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 previous year, the firm earned $1.67 EPS. The company’s revenue was up 8.4% on a year-over-year basis. On average, research analysts predict that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, December 26th will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.26%. Philip Morris International’s payout ratio is 85.71%.

Analyst Ratings Changes

PM has been the topic of several research reports. The Goldman Sachs Group raised their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. upped their price target on shares of 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 raised their price objective on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Citigroup upped their target price on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $145.00 price target (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. 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. Based on data from MarketBeat, Philip Morris International presently has an average rating of “Moderate Buy” and a consensus target price of $131.50.

Insider Activity

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the 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 in the company, valued at approximately $124,624,965.85. This represents a 9.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Werner Barth sold 7,500 shares of the business’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 transaction, the insider now owns 95,418 shares of the company’s stock, valued at $12,402,431.64. This represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

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.