GAMMA Investing LLC Makes New $727,000 Investment in Philip Morris International Inc. (NYSE:PM)

GAMMA Investing 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 and Exchange Commission (SEC). The institutional investor acquired 7,998 shares of the company's stock, valued at approximately $727,000.

Several other hedge funds have also recently bought and sold shares of the stock. PFG Investments LLC raised its stake in Philip Morris International by 1.9% during the fourth quarter. PFG Investments LLC now owns 5,951 shares of the company's stock worth $560,000 after acquiring an additional 109 shares in the last quarter. Townsend Asset Management Corp NC ADV increased its stake in shares of Philip Morris International by 3.8% in the third quarter. Townsend Asset Management Corp NC ADV now owns 2,993 shares of the company's stock valued at $277,000 after buying an additional 110 shares in the last quarter. CGC Financial Services LLC increased its stake in shares of Philip Morris International by 8.2% in the fourth quarter. CGC Financial Services LLC now owns 1,453 shares of the company's stock valued at $137,000 after buying an additional 110 shares in the last quarter. Raleigh Capital Management Inc. increased its stake in shares of Philip Morris International by 0.3% in the third quarter. Raleigh Capital Management Inc. now owns 36,857 shares of the company's stock valued at $3,412,000 after buying an additional 112 shares in the last quarter. Finally, Douglas Lane & Associates LLC increased its stake in shares of Philip Morris International by 2.1% in the third quarter. Douglas Lane & Associates LLC now owns 5,581 shares of the company's stock valued at $517,000 after buying an additional 116 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Price Performance

PM traded up $3.60 during trading on Tuesday, hitting $97.66. The stock had a trading volume of 13,103,287 shares, compared to its average volume of 5,646,268. The company has a 50 day moving average price of $91.29 and a 200-day moving average price of $92.06. The firm has a market cap of $151.82 billion, a price-to-earnings ratio of 18.74, a P/E/G ratio of 1.96 and a beta of 0.61. Philip Morris International Inc. has a one year low of $87.23 and a one year high of $100.79.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.09. Philip Morris International had a negative return on equity of 116.29% and a net margin of 8.53%. The business had revenue of $8.79 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same period in the prior year, the company earned $1.38 EPS. Philip Morris International's revenue for the quarter was up 8.6% on a year-over-year basis. As a group, sell-side analysts predict that Philip Morris International Inc. will post 6.38 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 21st were issued a $1.30 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $5.20 dividend on an annualized basis and a yield of 5.32%. Philip Morris International's payout ratio is presently 103.59%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PM shares. UBS Group lowered Philip Morris International from a "buy" rating to a "sell" rating and lowered their target price for the company from $105.00 to $86.50 in a research note on Tuesday, January 23rd. Societe Generale upgraded Philip Morris International from a "sell" rating to a "hold" rating and set a $87.50 price objective for the company in a research report on Tuesday, February 13th. Finally, Argus reiterated a "hold" rating on shares of Philip Morris International in a research report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $105.40.

Insider Activity

In related news, insider Massimo Andolina sold 8,250 shares of the firm's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $93.63, for a total transaction of $772,447.50. Following the completion of the sale, the insider now owns 94,629 shares of the company's stock, valued at $8,860,113.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Reginaldo Dobrowolski sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $90.69, for a total value of $181,380.00. Following the transaction, the vice president now owns 9,726 shares in the company, valued at $882,050.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Massimo Andolina sold 8,250 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $93.63, for a total value of $772,447.50. Following the sale, the insider now directly owns 94,629 shares of the company's stock, valued at $8,860,113.27. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,250 shares of company stock valued at $1,411,128. Company insiders own 0.14% of the company's stock.

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.

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