Steamboat Capital Partners LLC Takes $1.20 Million Position in Philip Morris International Inc. (NYSE:PM)

Steamboat Capital Partners LLC acquired a new position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 9,961 shares of the company's stock, valued at approximately $1,199,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Philip Morris International by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 139,432,392 shares of the company's stock valued at $16,780,688,000 after purchasing an additional 1,167,810 shares during the period. Capital World Investors raised its stake in Philip Morris International by 3.6% during the 4th quarter. Capital World Investors now owns 122,584,210 shares of the company's stock valued at $14,752,926,000 after purchasing an additional 4,216,586 shares during the period. GQG Partners LLC raised its stake in Philip Morris International by 14.3% during the 4th quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock valued at $5,866,678,000 after purchasing an additional 6,092,558 shares during the period. Geode Capital Management LLC raised its stake in 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 valued at $4,241,837,000 after purchasing an additional 3,185,258 shares during the period. Finally, Wellington Management Group LLP grew its holdings in shares of Philip Morris International by 3.1% during the 4th quarter. Wellington Management Group LLP now owns 17,276,790 shares of the company's stock valued at $2,079,262,000 after acquiring an additional 516,617 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Jacek Olczak sold 40,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $148.87, for a total value of $5,954,800.00. Following the transaction, the chief executive officer now directly owns 547,426 shares in the company, valued at $81,495,308.62. This represents a 6.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Yann Guerin sold 2,500 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $151.28, for a total transaction of $378,200.00. Following the completion of the transaction, the senior vice president now owns 30,308 shares in the company, valued at $4,584,994.24. This represents a 7.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 126,822 shares of company stock valued at $18,906,185. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Citigroup raised their price objective on shares of Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, April 16th. Argus upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a report on Friday, March 14th. StockNews.com upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a report on Thursday, April 24th. Morgan Stanley reiterated an "overweight" rating and issued a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. raised their price objective on Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, Philip Morris International has a consensus rating of "Moderate Buy" and a consensus target price of $166.33.

Philip Morris International Trading Up 0.3%

PM traded up $0.48 during midday trading on Wednesday, reaching $174.60. The company's stock had a trading volume of 6,243,560 shares, compared to its average volume of 5,596,941. The company has a fifty day simple moving average of $161.26 and a 200 day simple moving average of $142.92. The stock has a market cap of $271.77 billion, a P/E ratio of 38.71, a PEG ratio of 2.65 and a beta of 0.50. Philip Morris International Inc. has a twelve month low of $98.93 and a twelve month high of $176.49.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.08. The business had revenue of $9.30 billion during the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.50 earnings per share. Sell-side analysts expect 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. Shareholders 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 3.09%. Philip Morris International's dividend payout ratio is 111.34%.

About Philip Morris International

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.