Castleark Management LLC Takes $10.49 Million Position in Philip Morris International Inc. (NYSE:PM)

Castleark Management LLC purchased 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 disclosure with the Securities and Exchange Commission (SEC). The firm purchased 87,160 shares of the company's stock, valued at approximately $10,490,000.

A number of other hedge funds also recently modified their holdings of the business. Meridian Wealth Partners LLC boosted its stake in shares of Philip Morris International by 4.1% in the 4th quarter. Meridian Wealth Partners LLC now owns 1,781 shares of the company's stock valued at $214,000 after purchasing an additional 70 shares during the last quarter. NewSquare Capital LLC boosted its position in Philip Morris International by 53.7% during the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company's stock valued at $25,000 after acquiring an additional 72 shares during the last quarter. Creative Financial Designs Inc. ADV grew its holdings in Philip Morris International by 2.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,628 shares of the company's stock worth $437,000 after acquiring an additional 73 shares during the period. Balboa Wealth Partners raised its position in shares of Philip Morris International by 2.0% in the 4th quarter. Balboa Wealth Partners now owns 3,712 shares of the company's stock worth $447,000 after acquiring an additional 74 shares in the last quarter. Finally, Cravens & Co Advisors LLC lifted its stake in shares of Philip Morris International by 0.7% in the 4th quarter. Cravens & Co Advisors LLC now owns 10,052 shares of the company's stock valued at $1,210,000 after purchasing an additional 74 shares during the period. Institutional investors and hedge funds own 78.63% of the company's stock.

Insider Buying and Selling

In other news, insider Lars Dahlgren sold 3,679 shares of Philip Morris International stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $152.96, for a total transaction of $562,739.84. Following the completion of the sale, the insider now owns 26,828 shares in the company, valued at approximately $4,103,610.88. This trade represents a 12.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.13% of the stock is currently owned by insiders.

Philip Morris International Stock Performance

PM stock traded up $3.00 during mid-day trading on Friday, hitting $178.23. The company had a trading volume of 6,162,362 shares, compared to its average volume of 5,604,753. Philip Morris International Inc. has a 12 month low of $98.93 and a 12 month high of $178.70. The stock's fifty day moving average price is $162.60 and its two-hundred day moving average price is $143.76. The firm has a market cap of $277.41 billion, a PE ratio of 39.52, a price-to-earnings-growth ratio of 2.65 and a beta of 0.50.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $9.30 billion during the quarter, compared to analyst estimates of $9.10 billion. During the same period in the prior year, the company earned $1.50 earnings per share. Philip Morris International's revenue was up 5.8% compared to the same quarter last year. Equities analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The company also recently disclosed 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 was Thursday, March 20th. This represents a $5.40 annualized dividend and a yield of 3.03%. Philip Morris International's dividend payout ratio is currently 111.34%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PM. Argus raised Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. Needham & Company LLC assumed coverage on shares of Philip Morris International in a research report on Thursday. They set a "buy" rating for the company. Morgan Stanley reiterated an "overweight" rating and issued a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Barclays increased their target price on shares of Philip Morris International from $175.00 to $205.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Finally, Citigroup raised their price target on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, April 16th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Philip Morris International has a consensus rating of "Moderate Buy" and a consensus price target of $169.20.

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.