Lord Abbett & CO. LLC Acquires 5,821 Shares of Philip Morris International Inc. (NYSE:PM)

Lord Abbett & CO. LLC boosted its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 0.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,379,100 shares of the company’s stock after purchasing an additional 5,821 shares during the quarter. Philip Morris International comprises approximately 0.9% of Lord Abbett & CO. LLC’s holdings, making the stock its 18th largest position. Lord Abbett & CO. LLC’s holdings in Philip Morris International were worth $288,823,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Iron Horse Wealth Management LLC increased its position in shares of Philip Morris International by 684.4% during the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after purchasing an additional 219 shares during the period. Strategic Financial Concepts LLC acquired a new stake in Philip Morris International in the 2nd quarter valued at $25,000. Sachetta LLC raised its stake in Philip Morris International by 64.8% during the second quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after acquiring an additional 105 shares in the last quarter. Valley Wealth Managers Inc. lifted its holdings 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 period. Finally, Dunhill Financial LLC grew its holdings in shares of Philip Morris International by 203.8% in the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock worth $29,000 after purchasing an additional 161 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Down 0.3 %

PM opened at $126.62 on Friday. The company has a fifty day simple moving average of $127.50 and a 200 day simple moving average of $117.79. The stock has a market cap of $196.87 billion, a P/E ratio of 20.10, a P/E/G ratio of 2.22 and a beta of 0.53. 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 released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.09. The company had revenue of $9.91 billion during 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 business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.67 earnings per share. On average, equities research analysts expect that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, December 26th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Thursday, December 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.26%. Philip Morris International’s dividend payout ratio is 85.71%.

Insider Buying and Selling at Philip Morris International

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s stock in a transaction dated 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 sale, the chairman now owns 959,761 shares in the company, valued at approximately $124,624,965.85. This trade represents a 9.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Werner Barth sold 7,500 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. This represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Bank of America raised their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Stifel Nicolaus reaffirmed a “buy” rating and set a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. 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 research report on Wednesday, October 23rd. Finally, Barclays raised their price target on Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a research 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 issued a buy rating to the company’s stock. According to MarketBeat, Philip Morris International currently has an average rating of “Moderate Buy” and an average target price of $131.50.

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.