Philip Morris International Inc. $PM is Bronte Capital Management Pty Ltd.’s 3rd Largest Position

Bronte Capital Management Pty Ltd. boosted its stake in Philip Morris International Inc. (NYSE:PM) by 4.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 541,101 shares of the company’s stock after purchasing an additional 22,716 shares during the quarter. Philip Morris International comprises approximately 20.7% of Bronte Capital Management Pty Ltd.’s portfolio, making the stock its 3rd biggest holding. Bronte Capital Management Pty Ltd.’s holdings in Philip Morris International were worth $98,551,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC lifted its stake in Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock worth $1,027,000 after purchasing an additional 2,023 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Philip Morris International by 4.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock valued at $252,000 after buying an additional 91 shares in the last quarter. Capstone Wealth Management Group LLC bought a new stake in Philip Morris International in the 1st quarter worth approximately $238,000. PFG Advisors boosted its stake in Philip Morris International by 6.5% in the first quarter. PFG Advisors now owns 3,180 shares of the company’s stock worth $505,000 after buying an additional 194 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its position in Philip Morris International by 3.2% during the first quarter. Proficio Capital Partners LLC now owns 3,988 shares of the company’s stock valued at $633,000 after acquiring an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Trading Down 0.3%

Philip Morris International stock opened at $155.46 on Thursday. The firm has a market cap of $241.99 billion, a P/E ratio of 28.16, a P/E/G ratio of 1.84 and a beta of 0.43. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69. The firm has a 50-day moving average of $156.88 and a 200-day moving average of $167.55.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. The business had revenue of $8.12 billion during the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%. Research analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.8%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date was Friday, October 3rd. Philip Morris International’s dividend payout ratio (DPR) is presently 106.52%.

Wall Street Analysts Forecast Growth

PM has been the subject of a number of recent research reports. Barclays lowered their price objective on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a report on Monday. Needham & Company LLC reissued a “buy” rating and issued a $195.00 price target on shares of Philip Morris International in a research note on Wednesday, July 23rd. Morgan Stanley set a $175.00 price objective on Philip Morris International and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. KGI Securities assumed coverage on Philip Morris International in a report on Monday, August 4th. They issued an “outperform” rating on the stock. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Philip Morris International presently has a consensus rating of “Moderate Buy” and an average price target of $189.56.

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.