Mirae Asset Global Investments Co. Ltd. Has $13.96 Million Holdings in Philip Morris International Inc. (NYSE:PM)

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Philip Morris International Inc. (NYSE:PM) by 16.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 115,698 shares of the company’s stock after acquiring an additional 16,154 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Philip Morris International were worth $13,955,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. BKM Wealth Management LLC acquired a new stake in shares of Philip Morris International during the 3rd quarter worth approximately $291,000. Parcion Private Wealth LLC boosted its position in shares of Philip Morris International by 11.7% during the 3rd quarter. Parcion Private Wealth LLC now owns 2,830 shares of the company’s stock worth $344,000 after acquiring an additional 296 shares in the last quarter. Allworth Financial LP boosted its position in shares of Philip Morris International by 23.3% during the 3rd quarter. Allworth Financial LP now owns 60,234 shares of the company’s stock worth $7,312,000 after acquiring an additional 11,399 shares in the last quarter. Highland Capital Management LLC acquired a new stake in shares of Philip Morris International during the 3rd quarter worth approximately $218,000. Finally, Sigma Investment Counselors Inc. boosted its position in shares of Philip Morris International by 5.7% during the 3rd quarter. Sigma Investment Counselors Inc. now owns 3,512 shares of the company’s stock worth $426,000 after acquiring an additional 189 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Insider Buying and Selling

In related news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the transaction, the insider now owns 85,629 shares of the company’s stock, valued at $9,877,305.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the completion of the transaction, the insider now owns 95,418 shares of the company’s stock, valued at $12,402,431.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 118,418 shares of company stock valued at $15,247,052 over the last quarter. Insiders own 0.13% of the company’s stock.

Philip Morris International Stock Performance

PM stock opened at $129.86 on Friday. The company has a fifty day moving average price of $122.50 and a 200-day moving average price of $109.84. The company has a market capitalization of $201.87 billion, a P/E ratio of 25.36, a PEG ratio of 2.57 and a beta of 0.55. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $133.27.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.09. The firm had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. Philip Morris International had a net margin of 12.10% and a negative return on equity of 117.94%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.67 earnings per share. As a group, sell-side analysts forecast that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend was Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is currently 105.47%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Barclays increased their price target on shares of Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Bank of America raised their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Stifel Nicolaus restated a “buy” rating and issued a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a research report on Wednesday. JPMorgan Chase & Co. raised their target price on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Citigroup raised their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $126.85.

About Philip Morris International

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.