GQG Partners LLC Purchases 1,269,102 Shares of Philip Morris International Inc. (NYSE:PM)

GQG Partners LLC raised its position in shares of Philip Morris International Inc. (NYSE:PM) by 12.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,745,168 shares of the company’s stock after buying an additional 1,269,102 shares during the quarter. Philip Morris International comprises 3.4% of GQG Partners LLC’s portfolio, making the stock its 10th largest position. GQG Partners LLC owned approximately 0.75% of Philip Morris International worth $1,163,957,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PM. Providence Capital Advisors LLC acquired a new stake in shares of Philip Morris International during the 1st quarter worth approximately $27,000. Centiva Capital LP raised its position in shares of Philip Morris International by 152.2% during the 1st quarter. Centiva Capital LP now owns 13,600 shares of the company’s stock worth $30,000 after purchasing an additional 8,208 shares during the period. Evolution Wealth Advisors LLC raised its position in shares of Philip Morris International by 179.1% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 307 shares of the company’s stock worth $30,000 after purchasing an additional 197 shares during the period. Monumental Financial Group Inc. acquired a new stake in shares of Philip Morris International during the 2nd quarter worth approximately $30,000. Finally, Regency Capital Management Inc. DE acquired a new stake in shares of Philip Morris International during the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 75.05% of the company’s stock.

In other news, CEO Martin G. King sold 21,725 shares of the stock in a transaction on Tuesday, July 27th. The stock was sold at an average price of $100.18, for a total transaction of $2,176,410.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.21% of the company’s stock.

A number of brokerages have recently weighed in on PM. Deutsche Bank Aktiengesellschaft increased their price target on Philip Morris International from $114.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, August 19th. Morgan Stanley reissued a “buy” rating and issued a $110.00 price objective on shares of Philip Morris International in a report on Friday, July 2nd. TheStreet raised Philip Morris International from a “c+” rating to a “b” rating in a report on Tuesday, July 20th. Finally, Barclays set a $98.59 price objective on Philip Morris International and gave the stock an “overweight” rating in a report on Friday, July 23rd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $102.60.

NYSE PM traded up $1.08 on Thursday, reaching $98.55. 55,504 shares of the stock traded hands, compared to its average volume of 4,408,336. The firm’s fifty day simple moving average is $100.71 and its 200 day simple moving average is $97.95. The company has a market cap of $153.59 billion, a price-to-earnings ratio of 17.19, a P/E/G ratio of 1.95 and a beta of 0.84. Philip Morris International Inc. has a 12 month low of $68.93 and a 12 month high of $106.51.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Monday, July 19th. The company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.02. The firm had revenue of $7.84 billion during the quarter, compared to analyst estimates of $7.71 billion. Philip Morris International had a negative return on equity of 91.56% and a net margin of 11.13%. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period last year, the company posted $1.29 EPS. Research analysts predict that Philip Morris International Inc. will post 6.07 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 14th. Shareholders of record on Wednesday, September 29th will be paid a dividend of $1.25 per share. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date is Tuesday, September 28th. Philip Morris International’s dividend payout ratio (DPR) is presently 96.71%.

Philip Morris International Profile

Philip Morris International, Inc is a holding company. It engages in manufacturing and sale of cigarettes, tobacco and nicotine-containing products. It operates through the following geographical segments: European Union, Eastern Europe, Middles East & Africa, South & Southeast Asia, East Asia & Australia and Latin America & Canada.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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