Harvest Fund Management Co. Ltd Invests $356,000 in Philip Morris International Inc. (NYSE:PM)

Harvest Fund Management Co. Ltd purchased a new stake in Philip Morris International Inc. (NYSE:PM) in the third quarter, HoldingsChannel reports. The fund purchased 2,934 shares of the company’s stock, valued at approximately $356,000.

A number of other institutional investors have also recently made changes to their positions in PM. Silvercrest Asset Management Group LLC raised its stake in shares of Philip Morris International by 4.1% in the first quarter. Silvercrest Asset Management Group LLC now owns 58,070 shares of the company’s stock valued at $5,320,000 after acquiring an additional 2,303 shares during the period. B. Riley Wealth Advisors Inc. raised its position in Philip Morris International by 24.9% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 39,984 shares of the company’s stock worth $3,753,000 after purchasing an additional 7,981 shares during the period. Tidal Investments LLC raised its position in Philip Morris International by 75.4% in the 1st quarter. Tidal Investments LLC now owns 94,003 shares of the company’s stock worth $8,613,000 after purchasing an additional 40,401 shares during the period. Hancock Whitney Corp lifted its stake in Philip Morris International by 9.0% in the first quarter. Hancock Whitney Corp now owns 6,374 shares of the company’s stock worth $584,000 after purchasing an additional 525 shares during the last quarter. Finally, XML Financial LLC boosted its position in shares of Philip Morris International by 1.7% during the first quarter. XML Financial LLC now owns 14,528 shares of the company’s stock valued at $1,331,000 after buying an additional 245 shares during the period. Institutional investors own 78.63% of the company’s stock.

Insiders Place Their Bets

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total value of $13,234,052.30. Following the transaction, the chairman now directly owns 959,761 shares of the company’s stock, valued at approximately $124,624,965.85. The trade was a 9.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was 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. The trade was a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PM. Bank of America increased their price target on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. The Goldman Sachs Group lifted their target price on Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Barclays upped their price target 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. UBS Group lifted 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. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Philip Morris International presently has a consensus rating of “Moderate Buy” and an average price target of $131.50.

Philip Morris International Stock Performance

NYSE PM opened at $132.28 on Wednesday. The company has a market cap of $205.67 billion, a PE ratio of 21.00, a P/E/G ratio of 2.28 and a beta of 0.54. The firm’s 50 day moving average price is $125.04 and its 200-day moving average price is $115.30. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week 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 business had revenue of $9.91 billion for 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 business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.67 EPS. On average, analysts forecast that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal 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 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend was Thursday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is 85.71%.

Philip Morris International 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.