Bridgewater Associates LP Has $17.47 Million Stake in Philip Morris International Inc. (NYSE:PM)

Bridgewater Associates LP cut its stake in shares of Philip Morris International Inc. (NYSE:PM) by 49.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 143,879 shares of the company’s stock after selling 139,228 shares during the quarter. Bridgewater Associates LP’s holdings in Philip Morris International were worth $17,467,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. White Lighthouse Investment Management Inc. boosted its holdings in 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 valued at $1,457,000 after acquiring an additional 4,999 shares during the last quarter. Accredited Investors Inc. lifted its position in shares of Philip Morris International by 3,553.3% in the 3rd quarter. Accredited Investors Inc. now owns 206,959 shares of the company’s stock worth $25,125,000 after purchasing 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 $692,000. Swiss National Bank boosted its position in Philip Morris International by 0.4% during the third quarter. Swiss National Bank now owns 4,614,200 shares of the company’s stock valued at $560,164,000 after acquiring an additional 17,700 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC boosted its position in shares of Philip Morris International by 68.8% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 38,344 shares of the company’s stock valued at $4,655,000 after purchasing an additional 15,630 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. UBS Group upped their price objective on shares of Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group upped their price target on Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Citigroup raised their price objective on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Stifel Nicolaus reaffirmed a “buy” rating and set a $145.00 target price (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Finally, Barclays increased their target price on Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $131.50.

Philip Morris International Stock Down 0.3 %

PM stock opened at $131.82 on Thursday. The business has a 50 day moving average of $125.26 and a 200-day moving average of $115.42. The firm has a market cap of $204.96 billion, a PE ratio of 20.92, a P/E/G ratio of 2.29 and a beta of 0.54. 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 earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.09. The firm had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the firm posted $1.67 EPS. On average, research analysts expect that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.10%. This is a boost 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 Activity

In related news, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction dated Wednesday, October 23rd. The stock was 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 owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. This trade represents a 7.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction dated 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 transaction, the chairman now owns 959,761 shares of the company’s stock, valued at $124,624,965.85. This represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

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.