AdvisorShares Investments LLC Acquires New Stake in Philip Morris International Inc. (NYSE:PM)

AdvisorShares Investments LLC acquired a new position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,400 shares of the company's stock, valued at approximately $289,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. GQG Partners LLC raised its holdings in Philip Morris International by 14.3% in the 4th quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock valued at $5,866,678,000 after buying an additional 6,092,558 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Philip Morris International in the 4th quarter valued at approximately $522,214,000. Kovitz Investment Group Partners LLC lifted its holdings in shares of Philip Morris International by 372.2% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 5,453,285 shares of the company's stock worth $656,303,000 after acquiring an additional 4,298,530 shares during the last quarter. Capital World Investors boosted its position in shares of Philip Morris International by 3.6% during the 4th quarter. Capital World Investors now owns 122,584,210 shares of the company's stock worth $14,752,926,000 after purchasing an additional 4,216,586 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Philip Morris International by 9.9% during the 4th quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company's stock worth $4,241,837,000 after purchasing an additional 3,185,258 shares during the period. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Price Performance

Shares of PM traded up $0.81 during midday trading on Friday, reaching $170.86. The stock had a trading volume of 4,450,592 shares, compared to its average volume of 5,557,935. The company has a market cap of $265.95 billion, a price-to-earnings ratio of 37.88, a PEG ratio of 2.65 and a beta of 0.46. The company's fifty day simple moving average is $157.17 and its two-hundred day simple moving average is $139.31. Philip Morris International Inc. has a 1-year low of $96.33 and a 1-year high of $172.03.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.61 by $0.08. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. The company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same period in the previous year, the business earned $1.50 EPS. Philip Morris International's revenue for the quarter was up 5.8% on a year-over-year basis. On average, sell-side analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, March 20th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $5.40 annualized dividend and a yield of 3.16%. Philip Morris International's dividend payout ratio is currently 111.34%.

Insider Activity at Philip Morris International

In other news, Chairman Andre Calantzopoulos sold 40,643 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $149.06, for a total transaction of $6,058,245.58. Following the transaction, the chairman now directly owns 561,349 shares in the company, valued at approximately $83,674,681.94. This trade represents a 6.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Reginaldo Dobrowolski sold 5,000 shares of the company's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $149.88, for a total transaction of $749,400.00. Following the completion of the sale, the vice president now owns 20,799 shares of the company's stock, valued at approximately $3,117,354.12. This trade represents a 19.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 131,822 shares of company stock valued at $19,655,585 over the last ninety days. Insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

PM has been the topic of a number of research reports. StockNews.com upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. Argus raised Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. JPMorgan Chase & Co. lifted their target price on Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Citigroup increased their price target on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. Finally, Morgan Stanley restated an "overweight" rating and issued a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $166.33.

Philip Morris International Company 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.