Novem Group Acquires New Shares in Philip Morris International Inc. (NYSE:PM)

by · The Cerbat Gem

Novem Group acquired a new position in Philip Morris International Inc. (NYSE:PM – Free Report) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 3,303 shares of the company’s stock, valued at approximately $397,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital & Planning LLC lifted its stake in shares of Philip Morris International by 7.1% in the 4th quarter. Capital & Planning LLC now owns 2,613 shares of the company’s stock valued at $318,000 after purchasing an additional 173 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of Philip Morris International by 68.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 26,971 shares of the company’s stock valued at $3,246,000 after purchasing an additional 10,969 shares during the last quarter. Dakota Wealth Management lifted its stake in shares of Philip Morris International by 0.7% in the 4th quarter. Dakota Wealth Management now owns 23,454 shares of the company’s stock valued at $2,823,000 after purchasing an additional 172 shares during the last quarter. Advisory Alpha LLC lifted its stake in shares of Philip Morris International by 6.6% in the 4th quarter. Advisory Alpha LLC now owns 4,658 shares of the company’s stock valued at $561,000 after purchasing an additional 289 shares during the last quarter. Finally, Albion Financial Group UT acquired a new position in shares of Philip Morris International during the 4th quarter valued at about $117,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Insiders Place Their Bets

In other Philip Morris International news, insider Lars Dahlgren sold 3,679 shares of Philip Morris International stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $152.96, for a total transaction of $562,739.84. Following the sale, the insider now owns 26,828 shares in the company, valued at $4,103,610.88. The trade was a 12.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.13% of the company’s stock.

Philip Morris International Price Performance

NYSE PM opened at $175.23 on Friday. The firm has a market capitalization of $272.75 billion, a price-to-earnings ratio of 38.85, a P/E/G ratio of 2.65 and a beta of 0.50. The company’s fifty day moving average is $162.11 and its two-hundred day moving average is $143.44. Philip Morris International Inc. has a 52-week low of $98.93 and a 52-week high of $176.49.

Philip Morris International (NYSE:PM – Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.61 by $0.08. The firm had revenue of $9.30 billion during the quarter, compared to analysts’ expectations of $9.10 billion. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.50 EPS. As a group, sell-side analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th were paid a dividend of $1.35 per share. The ex-dividend date was Thursday, March 20th. This represents a $5.40 dividend on an annualized basis and a yield of 3.08%. Philip Morris International’s dividend payout ratio is currently 111.34%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on Philip Morris International from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Argus raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, March 14th. Barclays boosted their price objective on shares of Philip Morris International from $175.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Citigroup boosted their price objective on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 16th. Finally, Stifel Nicolaus boosted their price objective on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $169.20.

Read Our Latest Research Report on Philip Morris International

Philip Morris International 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.

Further Reading

Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM – Free Report).