Bronte Capital Management Pty Ltd. Has $40.05 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Bronte Capital Management Pty Ltd. boosted its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 5.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 425,653 shares of the company's stock after acquiring an additional 21,633 shares during the period. Philip Morris International accounts for about 3.8% of Bronte Capital Management Pty Ltd.'s holdings, making the stock its 10th biggest position. Bronte Capital Management Pty Ltd.'s holdings in Philip Morris International were worth $40,045,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Headlands Technologies LLC bought a new position in shares of Philip Morris International during the third quarter valued at about $27,000. Tennessee Valley Asset Management Partners bought a new position in Philip Morris International in the fourth quarter worth approximately $33,000. Wetzel Investment Advisors Inc. bought a new position in shares of Philip Morris International in the fourth quarter worth about $39,000. McClarren Financial Advisors Inc. grew its stake in shares of Philip Morris International by 158.0% during the 4th quarter. McClarren Financial Advisors Inc. now owns 454 shares of the company's stock valued at $43,000 after acquiring an additional 278 shares during the period. Finally, Activest Wealth Management raised its stake in Philip Morris International by 1,685.7% during the 4th quarter. Activest Wealth Management now owns 500 shares of the company's stock worth $47,000 after acquiring an additional 472 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PM shares. Stifel Nicolaus upped their price target on shares of Philip Morris International from $108.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, April 24th. Argus reissued a "hold" rating on shares of Philip Morris International in a report on Tuesday, March 5th. Societe Generale upgraded shares of Philip Morris International from a "sell" rating to a "hold" rating and set a $87.50 price target on the stock in a research note on Tuesday, February 13th. Finally, UBS Group downgraded 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 report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $105.50.

Insider Activity

In other Philip Morris International news, VP Reginaldo Dobrowolski sold 2,000 shares of the firm's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $90.69, for a total transaction of $181,380.00. Following the sale, the vice president now directly owns 9,726 shares of the company's stock, valued at approximately $882,050.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Wilde Frederic De sold 20,000 shares of the company's stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $96.42, for a total value of $1,928,400.00. Following the sale, the insider now directly owns 178,447 shares of the company's stock, valued at $17,205,859.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Reginaldo Dobrowolski sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $90.69, for a total value of $181,380.00. Following the completion of the sale, the vice president now owns 9,726 shares of the company's stock, valued at $882,050.94. The disclosure for this sale can be found here. Insiders sold a total of 35,250 shares of company stock worth $3,339,528 over the last 90 days. 0.14% of the stock is currently owned by corporate insiders.

Philip Morris International Price Performance

PM traded up $1.20 during trading hours on Thursday, reaching $99.45. The company's stock had a trading volume of 3,837,890 shares, compared to its average volume of 5,704,349. The stock has a market cap of $154.60 billion, a PE ratio of 19.43, a P/E/G ratio of 2.08 and a beta of 0.60. Philip Morris International Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $100.70. The business's 50-day moving average is $92.92 and its 200-day moving average is $92.42.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.09. The business had revenue of $8.79 billion for the quarter, compared to analysts' expectations of $8.44 billion. Philip Morris International had a net margin of 8.58% and a negative return on equity of 113.26%. The business's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.38 earnings per share. Analysts expect that Philip Morris International Inc. will post 6.29 EPS for the current year.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 21st were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.23%. The ex-dividend date of this dividend was Wednesday, March 20th. Philip Morris International's payout ratio is currently 101.56%.

Philip Morris International 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.

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