Primecap Management Co. CA Has $7.75 Million Stake in Philip Morris International Inc. (NYSE:PM)

Primecap Management Co. CA lessened its position in Philip Morris International Inc. (NYSE:PM) by 7.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,800 shares of the company’s stock after selling 5,200 shares during the period. Primecap Management Co. CA’s holdings in Philip Morris International were worth $7,745,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. White Lighthouse Investment Management Inc. grew its stake in shares of Philip Morris International by 71.4% in 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. lifted its holdings in Philip Morris International by 3,553.3% during the 3rd quarter. Accredited Investors Inc. now owns 206,959 shares of the company’s stock worth $25,125,000 after buying an additional 201,294 shares during the period. Kennebec Savings Bank bought a new stake in shares of Philip Morris International in the 3rd quarter valued at about $692,000. Swiss National Bank increased its stake in shares of Philip Morris International by 0.4% in the third quarter. Swiss National Bank now owns 4,614,200 shares of the company’s stock valued at $560,164,000 after buying an additional 17,700 shares during the period. Finally, Axxcess Wealth Management LLC raised its position in shares of Philip Morris International by 16.9% during the third quarter. Axxcess Wealth Management LLC now owns 40,377 shares of the company’s stock worth $4,902,000 after acquiring an additional 5,846 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Performance

Shares of Philip Morris International stock opened at $129.99 on Friday. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $134.15. The stock has a 50 day moving average price of $124.77 and a two-hundred day moving average price of $114.62. The stock has a market capitalization of $202.11 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 2.27 and a beta of 0.54.

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. 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 analyst estimates of $9.68 billion. During the same quarter in the previous year, the business posted $1.67 EPS. Philip Morris International’s quarterly revenue was up 8.4% on a year-over-year basis. Research analysts forecast that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were given a $1.35 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date was Thursday, September 26th. This represents a $5.40 annualized dividend and a yield of 4.15%. Philip Morris International’s dividend payout ratio (DPR) is presently 85.71%.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction dated 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 approximately $12,402,431.64. This represents a 7.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s stock in a transaction on 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 completion of the transaction, 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 disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

PM has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased 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 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 stock a “buy” rating in a research note on Wednesday, September 4th. UBS Group upped their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research report on Wednesday, October 23rd. Citigroup lifted their price objective 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, Deutsche Bank Aktiengesellschaft upped their target price on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $131.50.

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.