KBC Group NV Raises Stock Holdings in Philip Morris International Inc. (NYSE:PM)

KBC Group NV increased its position in Philip Morris International Inc. (NYSE:PM) by 3.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,592 shares of the company’s stock after buying an additional 4,001 shares during the period. KBC Group NV’s holdings in Philip Morris International were worth $14,518,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Capital World Investors lifted its position in Philip Morris International by 1.5% during the first quarter. Capital World Investors now owns 111,247,656 shares of the company’s stock worth $10,192,510,000 after buying an additional 1,684,992 shares during the period. Capital Research Global Investors lifted its stake in shares of Philip Morris International by 3.1% during the first quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock worth $5,517,085,000 after purchasing an additional 1,800,864 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Philip Morris International by 16.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock worth $1,341,050,000 after acquiring an additional 1,856,551 shares during the period. First Eagle Investment Management LLC grew its holdings in Philip Morris International by 7.4% during the 2nd quarter. First Eagle Investment Management LLC now owns 10,655,948 shares of the company’s stock valued at $1,079,767,000 after purchasing an additional 736,961 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Philip Morris International by 4.7% during the second quarter. Legal & General Group Plc now owns 10,430,837 shares of the company’s stock valued at $1,056,957,000 after acquiring an additional 469,806 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Philip Morris International

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the transaction, the chairman now owns 959,761 shares of the company’s stock, valued at approximately $124,624,965.85. This represents a 9.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the sale, the insider now directly owns 95,418 shares of the company’s stock, valued at $12,402,431.64. The trade was a 7.29 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Philip Morris International Stock Performance

Philip Morris International stock opened at $128.59 on Friday. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $134.15. The firm has a market capitalization of $199.94 billion, a price-to-earnings ratio of 20.51, a P/E/G ratio of 2.19 and a beta of 0.54. The company has a 50 day moving average price of $124.25 and a 200 day moving average price of $113.21.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.09. The business had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. Philip Morris International’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.67 earnings per share. Equities analysts forecast that Philip Morris International Inc. will post 6.51 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 Thursday, October 10th. Stockholders of record on Thursday, September 26th were paid a $1.35 dividend. The ex-dividend date was Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.20%. Philip Morris International’s dividend payout ratio is 85.71%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Citigroup increased their target price on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. UBS Group boosted their price target on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their price objective on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. The Goldman Sachs Group increased their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Barclays lifted their price target on shares of Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average target price of $127.85.

Philip Morris International 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.