Geode Capital Management LLC Buys 3,185,258 Shares of Philip Morris International Inc. (NYSE:PM)

Geode Capital Management LLC increased its stake in Philip Morris International Inc. (NYSE:PM) by 9.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,286,582 shares of the company’s stock after purchasing an additional 3,185,258 shares during the quarter. Geode Capital Management LLC’s holdings in Philip Morris International were worth $4,241,837,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Range Financial Group LLC lifted its position in shares of Philip Morris International by 504.9% during the 4th quarter. Range Financial Group LLC now owns 22,915 shares of the company’s stock valued at $2,758,000 after buying an additional 19,127 shares during the last quarter. Park Avenue Securities LLC raised its stake in Philip Morris International by 18.9% in the 4th quarter. Park Avenue Securities LLC now owns 100,826 shares of the company’s stock valued at $12,134,000 after acquiring an additional 16,035 shares during the period. CWA Asset Management Group LLC raised its stake in Philip Morris International by 37.5% in the 4th quarter. CWA Asset Management Group LLC now owns 24,200 shares of the company’s stock valued at $2,912,000 after acquiring an additional 6,605 shares during the period. Ritholtz Wealth Management boosted its position in Philip Morris International by 50.9% during the fourth quarter. Ritholtz Wealth Management now owns 53,884 shares of the company’s stock worth $6,485,000 after purchasing an additional 18,183 shares during the period. Finally, Czech National Bank increased its stake in shares of Philip Morris International by 6.4% in the fourth quarter. Czech National Bank now owns 337,119 shares of the company’s stock worth $40,572,000 after purchasing an additional 20,390 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Trading Up 2.4 %

PM stock opened at $158.85 on Tuesday. The company’s 50 day moving average is $146.57 and its 200 day moving average is $132.43. The stock has a market cap of $246.99 billion, a price-to-earnings ratio of 35.22, a price-to-earnings-growth ratio of 2.65 and a beta of 0.53. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $159.87.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.06. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. As a group, sell-side analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Thursday, March 20th. Philip Morris International’s payout ratio is currently 119.73%.

Analysts Set New Price Targets

PM has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price target on shares of Philip Morris International from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. StockNews.com lowered Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Argus raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, March 14th. Morgan Stanley began coverage on Philip Morris International in a research note on Thursday, January 16th. They issued an “overweight” rating and a $140.00 target price for the company. Finally, Barclays upped their price target on Philip Morris International from $145.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Philip Morris International presently has a consensus rating of “Moderate Buy” and an average target price of $144.56.

Insider Activity

In related news, CEO Jacek Olczak sold 40,000 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $148.87, for a total transaction of $5,954,800.00. Following the transaction, the chief executive officer now owns 547,426 shares of the company’s stock, valued at approximately $81,495,308.62. This trade represents a 6.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Reginaldo Dobrowolski sold 5,000 shares of Philip Morris International stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $149.88, for a total transaction of $749,400.00. Following the completion of the transaction, the vice president now owns 20,799 shares in the company, valued at approximately $3,117,354.12. The trade was a 19.38 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 131,822 shares of company stock worth $19,655,585. 0.13% of the stock is currently owned by insiders.

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.