Gamco Investors INC. ET AL Sells 7,430 Shares of Philip Morris International Inc. (NYSE:PM)

Gamco Investors INC. ET AL reduced its position in Philip Morris International Inc. (NYSE:PMFree Report) by 34.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,335 shares of the company’s stock after selling 7,430 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Philip Morris International were worth $1,327,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Capital World Investors increased its stake in Philip Morris International by 3.9% in the 2nd quarter. Capital World Investors now owns 116,185,273 shares of the company’s stock worth $11,342,014,000 after acquiring an additional 4,368,323 shares during the last quarter. Capital International Investors grew its holdings in shares of Philip Morris International by 1.0% during the second quarter. Capital International Investors now owns 106,291,477 shares of the company’s stock worth $10,376,231,000 after purchasing an additional 1,092,991 shares in the last quarter. BlackRock Inc. increased its position in shares of Philip Morris International by 1.1% in the second quarter. BlackRock Inc. now owns 95,439,062 shares of the company’s stock worth $9,316,761,000 after purchasing an additional 1,056,110 shares during the last quarter. State Street Corp raised its stake in Philip Morris International by 3.1% in the second quarter. State Street Corp now owns 58,592,611 shares of the company’s stock valued at $5,793,812,000 after purchasing an additional 1,745,868 shares in the last quarter. Finally, Capital Research Global Investors raised its stake in Philip Morris International by 4.9% in the second quarter. Capital Research Global Investors now owns 51,558,741 shares of the company’s stock valued at $5,033,166,000 after purchasing an additional 2,430,519 shares in the last quarter. Hedge funds and other institutional investors own 79.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PM shares. Jefferies Financial Group decreased their price target on shares of Philip Morris International from $111.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, October 13th. UBS Group cut Philip Morris International from a “buy” rating to a “sell” rating and reduced their target price for the company from $105.00 to $86.50 in a research note on Tuesday, January 23rd. Redburn Atlantic assumed coverage on Philip Morris International in a research note on Thursday, November 16th. They set a “neutral” rating and a $95.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price objective on Philip Morris International from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $107.39.

Check Out Our Latest Report on Philip Morris International

Philip Morris International Price Performance

PM opened at $89.12 on Friday. The stock’s 50 day simple moving average is $93.14 and its 200 day simple moving average is $93.52. The firm has a market cap of $138.35 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 2.45 and a beta of 0.63. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $103.79.

Philip Morris International (NYSE:PMGet Free Report) last issued its earnings results on Thursday, February 8th. The company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.08). The firm had revenue of $9.05 billion during the quarter, compared to the consensus estimate of $8.99 billion. Philip Morris International had a negative return on equity of 116.29% and a net margin of 10.80%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.39 EPS. As a group, sell-side analysts anticipate that Philip Morris International Inc. will post 6.37 EPS for the current year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Thursday, December 21st were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Wednesday, December 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.83%. Philip Morris International’s dividend payout ratio is currently 103.59%.

Insider Buying and Selling

In other news, insider Wilde Frederic De sold 10,000 shares of Philip Morris International stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $94.25, for a total value of $942,500.00. Following the sale, the insider now directly owns 198,447 shares in the company, valued at approximately $18,703,629.75. The sale was disclosed in a filing with the SEC, which is available through this link. 0.13% of the stock is owned by insiders.

About Philip Morris International

(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.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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