Woodline Partners LP Buys Shares of 93,374 Philip Morris International Inc. (NYSE:PM)

Woodline Partners LP acquired a new position in Philip Morris International Inc. (NYSE:PM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 93,374 shares of the company's stock, valued at approximately $11,238,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. NewSquare Capital LLC increased its position in Philip Morris International by 53.7% in the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company's stock worth $25,000 after buying an additional 72 shares during the period. McClarren Financial Advisors Inc. acquired a new stake in shares of Philip Morris International during the fourth quarter worth approximately $33,000. Knuff & Co LLC acquired a new position in Philip Morris International in the fourth quarter worth $36,000. Sierra Ocean LLC acquired a new stake in Philip Morris International in the 4th quarter valued at about $37,000. Finally, Transce3nd LLC acquired a new position in Philip Morris International during the 4th quarter worth $41,000. Institutional investors and hedge funds own 78.63% of the company's stock.

Insider Activity

In other news, insider Lars Dahlgren sold 3,679 shares of the firm's stock in a transaction on 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 transaction, the insider now directly owns 26,828 shares in the company, valued at $4,103,610.88. This trade represents a 12.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.13% of the company's stock.

Philip Morris International Stock Up 0.6%

Philip Morris International stock traded up $1.02 during trading hours on Tuesday, hitting $179.21. The stock had a trading volume of 3,570,262 shares, compared to its average volume of 5,604,080. The stock has a market cap of $278.95 billion, a price-to-earnings ratio of 39.79, a P/E/G ratio of 2.65 and a beta of 0.50. The business's 50 day simple moving average is $163.08 and its 200-day simple moving average is $144.39. Philip Morris International Inc. has a one year low of $98.93 and a one year high of $179.79.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $9.30 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.50 EPS. Research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, March 20th were issued a dividend of $1.35 per share. The ex-dividend date was Thursday, March 20th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.01%. Philip Morris International's dividend payout ratio is 111.34%.

Analysts Set New Price Targets

A number of analysts have recently commented on PM shares. Wall Street Zen raised Philip Morris International from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Morgan Stanley reaffirmed an "overweight" rating and set a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Argus upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. Citigroup upped their price objective on Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, April 16th. Finally, Stifel Nicolaus lifted their target price on Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $169.20.

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.