Sanders Morris Harris LLC Buys Shares of 52,563 Philip Morris International Inc. (NYSE:PM)

Sanders Morris Harris LLC bought a new stake in Philip Morris International Inc. (NYSE:PM) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 52,563 shares of the company’s stock, valued at approximately $3,997,000. Philip Morris International makes up approximately 1.1% of Sanders Morris Harris LLC’s investment portfolio, making the stock its 18th biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Blue Chip Wealth Management Inc. grew its stake in Philip Morris International by 4.1% in the second quarter. Blue Chip Wealth Management Inc. now owns 3,451 shares of the company’s stock valued at $242,000 after purchasing an additional 135 shares in the last quarter. Pure Financial Advisors Inc. lifted its position in shares of Philip Morris International by 3.8% in the third quarter. Pure Financial Advisors Inc. now owns 3,672 shares of the company’s stock worth $275,000 after buying an additional 135 shares during the last quarter. Stock Yards Bank & Trust Co. lifted its position in shares of Philip Morris International by 0.5% in the third quarter. Stock Yards Bank & Trust Co. now owns 29,221 shares of the company’s stock worth $2,191,000 after buying an additional 141 shares during the last quarter. Tanaka Capital Management Inc. lifted its position in shares of Philip Morris International by 2.6% in the second quarter. Tanaka Capital Management Inc. now owns 5,691 shares of the company’s stock worth $399,000 after buying an additional 145 shares during the last quarter. Finally, Sun Life Financial INC lifted its position in shares of Philip Morris International by 1.4% in the second quarter. Sun Life Financial INC now owns 11,746 shares of the company’s stock worth $823,000 after buying an additional 157 shares during the last quarter. Hedge funds and other institutional investors own 73.98% of the company’s stock.

In related news, Director Louis C. Camilleri sold 75,000 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $77.73, for a total transaction of $5,829,750.00. Insiders own 0.22% of the company’s stock.

PM has been the subject of a number of analyst reports. Stifel Nicolaus boosted their price target on Philip Morris International from $85.00 to $90.00 in a research report on Wednesday, July 22nd. Bank of America boosted their price target on Philip Morris International from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Friday, September 11th. Citigroup raised Philip Morris International from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $82.00 to $100.00 in a research report on Wednesday, October 7th. ValuEngine cut Philip Morris International from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. Finally, Goldman Sachs Group boosted their price objective on Philip Morris International from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, September 23rd. Two analysts have rated the stock with a sell rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $93.50.

PM traded up $0.13 on Friday, hitting $79.27. 3,033,585 shares of the stock traded hands, compared to its average volume of 5,376,414. Philip Morris International Inc. has a 52 week low of $56.01 and a 52 week high of $90.17. The firm has a market capitalization of $123.45 billion, a PE ratio of 16.94, a P/E/G ratio of 2.29 and a beta of 0.76. The business has a fifty day moving average price of $78.33 and a two-hundred day moving average price of $75.09.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.19. Philip Morris International had a negative return on equity of 80.24% and a net margin of 9.54%. The firm had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.54 billion. During the same period in the previous year, the company posted $1.46 earnings per share. The company’s quarterly revenue was down 13.6% compared to the same quarter last year. On average, research analysts forecast that Philip Morris International Inc. will post 5.06 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 13th. Investors of record on Thursday, September 24th were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 6.06%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.17. The ex-dividend date was Wednesday, September 23rd. Philip Morris International’s payout ratio is currently 92.49%.

Philip Morris International Company Profile

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, smoke-free products, and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.

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

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