Massachusetts Financial Services Co. MA Acquires 3,363,454 Shares of Philip Morris International Inc. (NYSE:PM)

Massachusetts Financial Services Co. MA grew its position in shares of Philip Morris International Inc. (NYSE:PM) by 57.2% during the third quarter, Holdings Channel.com reports. The fund owned 9,241,612 shares of the company’s stock after purchasing an additional 3,363,454 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Philip Morris International were worth $1,121,932,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PM. Iron Horse Wealth Management LLC increased its holdings in Philip Morris International by 684.4% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after acquiring an additional 219 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in Philip Morris International in the 2nd quarter worth approximately $25,000. Sachetta LLC increased its stake in shares of Philip Morris International by 64.8% in the second quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after buying an additional 105 shares during the period. Valley Wealth Managers Inc. raised its stake in shares of Philip Morris International by 457.5% during the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock valued at $27,000 after acquiring an additional 183 shares during the last quarter. Finally, Fortitude Family Office LLC raised its position in Philip Morris International by 57.4% during the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after purchasing an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Insider Activity

In other 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 transaction, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. This represents a 7.29 % decrease in their ownership of the stock. The transaction 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 Philip Morris International stock in a transaction that occurred 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 sale, the chairman now directly 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 Trading Up 0.7 %

Shares of NYSE:PM opened at $130.39 on Thursday. The company has a market cap of $202.73 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 2.27 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. The company has a 50-day moving average price of $124.55 and a 200 day moving average price of $114.27.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. The firm 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%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.67 EPS. As a group, equities analysts forecast that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were given a dividend of $1.35 per share. 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 dividend on an annualized basis and a yield of 4.14%. Philip Morris International’s payout ratio is 85.71%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PM. Stifel Nicolaus reissued a “buy” rating and issued a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their price target on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. upped their target price on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group lifted their price objective on Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Barclays upped their target price on shares of Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Philip Morris International currently has an average rating of “Moderate Buy” and a consensus price target of $131.50.

About Philip Morris International

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.