Philip Morris International Inc. (NYSE:PM) Shares Acquired by Ameriprise Financial Inc.

Ameriprise Financial Inc. lifted its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 0.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,842,502 shares of the company's stock after buying an additional 18,753 shares during the period. Ameriprise Financial Inc. owned about 0.31% of Philip Morris International worth $577,610,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. GQG Partners LLC increased its stake in Philip Morris International by 14.3% in 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 in the last quarter. Raymond James Financial Inc. acquired a new stake in Philip Morris International in the fourth quarter valued at $522,214,000. Kovitz Investment Group Partners LLC increased its position in shares of Philip Morris International by 372.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,453,285 shares of the company's stock valued at $656,303,000 after buying an additional 4,298,530 shares in the last quarter. Capital World Investors raised its stake in shares of Philip Morris International by 3.6% during the 4th quarter. Capital World Investors now owns 122,584,210 shares of the company's stock worth $14,752,926,000 after buying an additional 4,216,586 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Philip Morris International by 9.9% in the 4th quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company's stock worth $4,241,837,000 after buying an additional 3,185,258 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PM. Stifel Nicolaus lifted their target price on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Argus raised Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. Barclays raised their price target on Philip Morris International from $175.00 to $205.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. 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 report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. increased 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 equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $166.33.

Insider Transactions at Philip Morris International

In other Philip Morris International news, CFO Emmanuel Babeau sold 30,000 shares of the stock in a transaction that occurred 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Andre Calantzopoulos sold 40,643 shares of Philip Morris International stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $149.06, for a total transaction of $6,058,245.58. Following the sale, the chairman now owns 561,349 shares in the company, valued at $83,674,681.94. This represents a 6.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 131,822 shares of company stock valued at $19,655,585 over the last 90 days. Corporate insiders own 0.13% of the company's stock.

Philip Morris International Stock Performance

Philip Morris International stock traded down $3.35 during trading on Thursday, reaching $172.02. The company had a trading volume of 5,630,094 shares, compared to its average volume of 5,562,228. Philip Morris International Inc. has a 12-month low of $98.19 and a 12-month high of $176.49. The stock's 50 day moving average price is $158.35 and its two-hundred day moving average price is $140.42. The firm has a market capitalization of $267.74 billion, a price-to-earnings ratio of 38.14, a PEG ratio of 2.65 and a beta of 0.50.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.08. The company 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 business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.50 EPS. As a group, research analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The firm 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 3.14%. Philip Morris International's dividend payout ratio is currently 111.34%.

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.