Point72 Asia Singapore Pte. Ltd. Invests $1.57 Million in Philip Morris International Inc. (NYSE:PM)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Philip Morris International Inc. (NYSE:PM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 12,927 shares of the company’s stock, valued at approximately $1,569,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Iron Horse Wealth Management LLC boosted its holdings in Philip Morris International by 684.4% during the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after purchasing an additional 219 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in Philip Morris International during the second quarter worth about $25,000. Sachetta LLC boosted its holdings in Philip Morris International by 64.8% during the second quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after purchasing an additional 105 shares during the last quarter. Valley Wealth Managers Inc. boosted its holdings in Philip Morris International by 457.5% during the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock worth $27,000 after purchasing an additional 183 shares during the last quarter. Finally, Fortitude Family Office LLC boosted its holdings in Philip Morris International by 57.4% during the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after purchasing an additional 116 shares during the last quarter. 78.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, insider Werner Barth sold 7,500 shares of the stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction 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 completion of the transaction, the chairman now directly owns 959,761 shares in the company, valued at $124,624,965.85. The trade was a 9.60 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Philip Morris International Trading Up 0.9 %

Shares of PM stock opened at $133.06 on Monday. The stock has a market capitalization of $206.89 billion, a P/E ratio of 21.12, a PEG ratio of 2.33 and a beta of 0.54. The firm’s 50 day moving average is $125.74 and its 200 day moving average is $115.99. 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 announced 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. The company had revenue of $9.91 billion for the quarter, compared to analysts’ expectations 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 revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.67 EPS. On average, equities analysts predict that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

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