Philip Morris International Inc. $PM Shares Sold by Bronte Capital Management Pty Ltd.

Bronte Capital Management Pty Ltd. decreased its stake in Philip Morris International Inc. (NYSE:PM) by 22.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 417,650 shares of the company’s stock after selling 123,451 shares during the period. Philip Morris International accounts for approximately 9.2% of Bronte Capital Management Pty Ltd.’s holdings, making the stock its 5th largest position. Bronte Capital Management Pty Ltd.’s holdings in Philip Morris International were worth $67,743,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new position in Philip Morris International during the second quarter worth $25,000. Traub Capital Management LLC bought a new position in shares of Philip Morris International in the 2nd quarter valued at about $25,000. Marquette Asset Management LLC grew its position in shares of Philip Morris International by 1,677.8% in the 3rd quarter. Marquette Asset Management LLC now owns 160 shares of the company’s stock valued at $26,000 after acquiring an additional 151 shares during the period. Estabrook Capital Management acquired a new position in shares of Philip Morris International during the 2nd quarter worth about $30,000. Finally, Briaud Financial Planning Inc raised its holdings in shares of Philip Morris International by 266.7% in the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock valued at $30,000 after purchasing an additional 120 shares during the period. Institutional investors own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Stifel Nicolaus set a $180.00 price target on Philip Morris International in a report on Tuesday, October 21st. Barclays reduced their target price on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday, November 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a report on Thursday, January 22nd. JPMorgan Chase & Co. cut their price target on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Finally, Morgan Stanley set a $175.00 price objective on shares of Philip Morris International and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Eleven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and an average target price of $184.56.

Philip Morris International Stock Performance

Shares of Philip Morris International stock opened at $180.22 on Thursday. The firm has a 50-day moving average of $162.98 and a 200-day moving average of $161.39. Philip Morris International Inc. has a 52-week low of $130.31 and a 52-week high of $186.69. The stock has a market cap of $280.54 billion, a PE ratio of 32.65, a PEG ratio of 1.91 and a beta of 0.39.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th were given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Friday, December 26th. Philip Morris International’s dividend payout ratio is presently 106.52%.

About Philip Morris International

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.