Gabelli Funds LLC buys 7,000 shares of Philip Morris International Inc. (NYSE:PM)

Gabelli Funds LLC raised its stake in Philip Morris International Inc. (NYSE:PM – Free Report) by 2.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 289,350 shares of the company’s stock after buying an additional 7,000 shares during the quarter. Gabelli Funds LLC’s holdings in Philip Morris International were worth $29,320,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Gilbert & Cook Inc. raised its holdings in shares of Philip Morris International by 3.8% in the 4th quarter. Gilbert & Cook Inc. now owns 10,946 shares of the company’s stock worth $1,030,000 after acquiring an additional 404 shares in the last quarter. Clearbridge Investments LLC purchased a new stake in Philip Morris International in the 4th quarter valued at about $460,000. TCW Group Inc. bought a new stake in Philip Morris International in the fourth quarter valued at approximately $2,305,000. HCR Wealth Advisors boosted its position in shares of Philip Morris International by 34.4% during the fourth quarter. HCR Wealth Advisors now owns 6,596 shares of the company’s stock valued at $621,000 after purchasing an additional 1,688 shares during the period. Finally, Skopos Labs Inc. bought a new position in shares of Philip Morris International during the fourth quarter valued at approximately $565,000. 78.63% of the shares are held by hedge funds and other institutional investors.

Analyst upgrades and downgrades

A number of equities research analysts have recently issued reports on PM shares. Bank of America upped their price target on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. UBS Group lifted their price target on Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a research report on Monday, September 9th. Barclays upped their target price on shares of Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Stifel Nicolaus upped their target price on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. 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 company. The stock has a consensus rating of “Moderate Buy” and an average price target of $117.05, based on data from MarketBeat.com.

Check out the latest stock report on Philip Morris International

Philip Morris international stocks rose 0.9%

Shares of PM stock opened at $120.79 on Friday. The firm has a market cap of $187.77 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 2.45 and a beta of 0.55. Philip Morris International Inc. it has a 52-week low of $87.23 and a 52-week high of $128.22. The company’s 50-day moving average is $118.17 and its 200-day moving average is $104.66.

Philip Morris International (NYSE:PM – Get Free Report ) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. The company had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The company’s revenue was up 5.6% compared to the same quarter last year. In the same period last year, the business posted EPS of $1.60. Analysts anticipate that Philip Morris International Inc. will record 6.45 EPS for the current fiscal year.

Philip Morris International has increased its dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th will be paid a dividend of $1.35 per share. This represents an annualized dividend of $5.40 and a dividend yield of 4.47%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Thursday, September 26. Philip Morris International’s dividend payout ratio is currently 105.47%.

Indoor activity

In related news, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of the transaction, the insider now owns 158,447 shares in the company, valued at approximately $17,906,095.47. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the sale, the insider now directly owns 85,629 shares in the company, valued at $9,877,305.15. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $113.01, for a total value of $2,260,200.00. Following the completion of the sale, the insider now directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s shares.

About Philip Morris International

(Free Report)

Philip Morris International Inc operates as a tobacco company working to deliver a smoke-free future and a long-term evolving portfolio to include products outside the tobacco and nicotine sector. The company’s product portfolio consists primarily of cigarettes and smokeless products, including smokeless heat, vapor and oral nicotine products, primarily under the IQOS and ZYN brands; and consumer accessories such as lighters and matches.

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