Redwood Investment Management LLC Has $1.92 Million Stock Position in Philip Morris International Inc. (NYSE:PM)

Redwood Investment Management LLC lowered its position in Philip Morris International Inc. (NYSE:PM) by 25.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,930 shares of the company’s stock after selling 5,387 shares during the period. Redwood Investment Management LLC’s holdings in Philip Morris International were worth $1,923,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in PM. FMR LLC increased its holdings in Philip Morris International by 40.9% during the 3rd quarter. FMR LLC now owns 23,168,446 shares of the company’s stock worth $2,812,649,000 after purchasing an additional 6,721,094 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Philip Morris International by 57.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock valued at $1,121,932,000 after acquiring an additional 3,363,454 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Philip Morris International by 16.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock valued at $1,341,050,000 after acquiring an additional 1,856,551 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Philip Morris International by 14,611.4% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,173,531 shares of the company’s stock valued at $142,467,000 after acquiring an additional 1,165,554 shares in the last quarter. Finally, Raymond James & Associates grew its holdings in shares of Philip Morris International by 52.0% in the 2nd quarter. Raymond James & Associates now owns 3,296,626 shares of the company’s stock valued at $334,047,000 after acquiring an additional 1,127,286 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

Shares of NYSE:PM opened at $132.49 on Friday. The company’s 50 day simple moving average is $126.52 and its 200 day simple moving average is $116.62. The stock has a market capitalization of $206.00 billion, a price-to-earnings ratio of 21.03, a price-to-earnings-growth ratio of 2.27 and a beta of 0.53. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $134.15.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. The firm had revenue of $9.91 billion for the quarter, compared to analysts’ expectations of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The company’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.67 earnings per share. As a group, analysts anticipate that Philip Morris International Inc. will post 6.51 EPS 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 dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend was Thursday, September 26th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is presently 85.71%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PM. Citigroup raised their price objective on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Bank of America raised their price objective on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. UBS Group raised their price objective on 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 raised their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Barclays raised their target price on shares of Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Philip Morris International has a consensus rating of “Moderate Buy” and a consensus target price of $131.50.

Insiders Place Their Bets

In other news, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the transaction, the insider now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s stock in a transaction 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 completion of the transaction, the chairman now owns 959,761 shares in the company, valued at approximately $124,624,965.85. The trade was 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 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.