MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 10,424 Shares of Philip Morris International Inc. (NYSE:PM)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 267,634 shares of the company's stock after buying an additional 10,424 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Philip Morris International were worth $32,207,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Meridian Wealth Partners LLC increased its position in shares of Philip Morris International by 4.1% during the fourth quarter. Meridian Wealth Partners LLC now owns 1,781 shares of the company's stock worth $214,000 after acquiring an additional 70 shares in the last quarter. NewSquare Capital LLC boosted its stake 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 purchasing an additional 72 shares during the period. Creative Financial Designs Inc. ADV increased 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 purchasing an additional 73 shares in the last quarter. Balboa Wealth Partners raised its stake 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 valued at $447,000 after purchasing an additional 74 shares during the period. Finally, Cravens & Co Advisors LLC lifted its holdings in shares of Philip Morris International by 0.7% in the fourth 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 in the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Stock Up 0.7%

Shares of NYSE:PM traded up $1.24 during midday trading on Friday, hitting $170.38. The stock had a trading volume of 3,802,405 shares, compared to its average volume of 5,603,936. The company has a market cap of $265.20 billion, a P/E ratio of 37.78, a PEG ratio of 2.65 and a beta of 0.50. Philip Morris International Inc. has a 12 month low of $98.93 and a 12 month high of $176.49. The business's 50-day simple moving average is $159.99 and its 200-day simple moving average is $141.99.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.08. The firm had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $9.10 billion. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.50 earnings per share. As a group, equities analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend was Thursday, March 20th. Philip Morris International's dividend payout ratio (DPR) is presently 111.34%.

Insider Buying and Selling at Philip Morris International

In other news, Chairman Andre Calantzopoulos sold 40,643 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $149.06, for a total transaction of $6,058,245.58. Following the transaction, the chairman now 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Emmanuel Babeau sold 30,000 shares of the business's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $148.85, for a total value of $4,465,500.00. Following the completion of the sale, the chief financial officer now owns 139,105 shares of the company's stock, valued at $20,705,779.25. This trade represents a 17.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 126,822 shares of company stock worth $18,906,185 over the last 90 days. Company insiders own 0.13% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Citigroup increased their price objective on Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, April 16th. JPMorgan Chase & Co. upped their price target on Philip Morris International from $145.00 to $160.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Barclays raised their price target 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. UBS Group raised shares of Philip Morris International from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $130.00 to $170.00 in a research report on Friday, April 25th. Finally, Argus upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a report on Friday, March 14th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Philip Morris International currently has a consensus rating of "Moderate Buy" and an average target price 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.