Fernwood Investment Management LLC Increases Holdings in Philip Morris International Inc. (NYSE:PM)

by · The Cerbat Gem

Fernwood Investment Management LLC increased its stake in shares of Philip Morris International Inc. (NYSE:PM – Free Report) by 1.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 33,282 shares of the company’s stock after purchasing an additional 612 shares during the period. Philip Morris International accounts for 1.3% of Fernwood Investment Management LLC’s investment portfolio, making the stock its 18th largest position. Fernwood Investment Management LLC’s holdings in Philip Morris International were worth $4,040,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Philip Morris International by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 136,556,344 shares of the company’s stock valued at $12,511,292,000 after purchasing an additional 481,636 shares in the last quarter. Capital World Investors boosted its stake in Philip Morris International by 1.5% during the first quarter. Capital World Investors now owns 111,247,656 shares of the company’s stock valued at $10,192,510,000 after buying an additional 1,684,992 shares during the period. Capital Research Global Investors grew its position in Philip Morris International by 3.1% during the first quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock worth $5,517,085,000 after buying an additional 1,800,864 shares in the last quarter. Bank of New York Mellon Corp grew its position in Philip Morris International by 16.3% during 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 buying an additional 1,856,551 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its holdings in shares of Philip Morris International by 7.4% in the 2nd quarter. First Eagle Investment Management LLC now owns 10,655,948 shares of the company’s stock valued at $1,079,767,000 after acquiring an additional 736,961 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

NYSE PM traded down $2.05 during trading on Friday, hitting $130.65. 5,833,198 shares of the company’s stock traded hands, compared to its average volume of 4,926,983. The stock has a fifty day moving average of $123.70 and a two-hundred day moving average of $111.32. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $134.15. The firm has a market cap of $203.14 billion, a P/E ratio of 20.74, a PEG ratio of 2.32 and a beta of 0.54.

Philip Morris International (NYSE:PM – Get Free Report) last issued its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.09. The company had revenue of $9.91 billion during the quarter, compared to analysts’ expectations of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. Philip Morris International’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.67 EPS. As a group, analysts expect 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. Investors of record on Thursday, September 26th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.13%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date was Thursday, September 26th. Philip Morris International’s payout ratio is presently 85.71%.

Insider Buying and Selling

In other news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the transaction, the chairman now directly owns 959,761 shares of the company’s stock, valued at approximately $124,624,965.85. The trade was a 0.00 % 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 Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the sale, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 118,418 shares of company stock valued at $15,247,052 over the last three months. 0.13% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PM. 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 report on Wednesday, October 23rd. Stifel Nicolaus reissued a “buy” rating and issued a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. The Goldman Sachs Group raised their price objective on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Bank of America upped their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, Citigroup raised their price target on 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $127.85.

Read Our Latest Stock Report on Philip Morris International

Philip Morris International Company Profile

(Free Report)

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.

See Also

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