Kovitz Investment Group Partners LLC Has $656.30 Million Position in Philip Morris International Inc. (NYSE:PM)

Kovitz Investment Group Partners LLC increased its position in Philip Morris International Inc. (NYSE:PM) by 372.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,453,285 shares of the company’s stock after acquiring an additional 4,298,530 shares during the period. Philip Morris International comprises approximately 2.2% of Kovitz Investment Group Partners LLC’s holdings, making the stock its 10th largest position. Kovitz Investment Group Partners LLC owned approximately 0.35% of Philip Morris International worth $656,303,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Morse Asset Management Inc purchased a new position in shares of Philip Morris International during the third quarter valued at approximately $206,000. McIlrath & Eck LLC raised its stake in Philip Morris International by 38.5% during the 3rd quarter. McIlrath & Eck LLC now owns 561 shares of the company’s stock valued at $68,000 after buying an additional 156 shares during the last quarter. Anchor Investment Management LLC lifted its holdings in shares of Philip Morris International by 3.5% during the 3rd quarter. Anchor Investment Management LLC now owns 46,037 shares of the company’s stock valued at $5,589,000 after buying an additional 1,544 shares during the period. Pine Valley Investments Ltd Liability Co boosted its stake in shares of Philip Morris International by 225.4% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 23,379 shares of the company’s stock worth $2,841,000 after buying an additional 16,194 shares during the last quarter. Finally, World Investment Advisors LLC grew its holdings in shares of Philip Morris International by 567.0% in the third quarter. World Investment Advisors LLC now owns 50,672 shares of the company’s stock worth $6,152,000 after acquiring an additional 43,075 shares during the period. 78.63% of the stock is owned by institutional investors.

Philip Morris International Stock Up 1.3 %

NYSE:PM opened at $170.26 on Friday. The stock has a market cap of $265.01 billion, a PE ratio of 37.75, a P/E/G ratio of 2.65 and a beta of 0.46. The business’s 50-day simple moving average is $155.09 and its two-hundred day simple moving average is $137.22. Philip Morris International Inc. has a 52 week low of $94.42 and a 52 week high of $171.63.

Philip Morris International (NYSE:PM) last issued its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.08. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. The company had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter last year, the company earned $1.50 EPS. Sell-side analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th were issued a $1.35 dividend. The ex-dividend date was Thursday, March 20th. This represents a $5.40 dividend on an annualized basis and a yield of 3.17%. Philip Morris International’s dividend payout ratio is currently 111.34%.

Analysts Set New Price Targets

Several brokerages have issued reports on PM. JPMorgan Chase & Co. raised their target price on Philip Morris International from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. UBS Group boosted their target price on shares of Philip Morris International from $105.00 to $120.00 and gave the company a “sell” rating in a research report on Friday, February 7th. Citigroup increased their price target on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 16th. Stifel Nicolaus boosted their price objective on shares of Philip Morris International from $168.00 to $186.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Argus raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, March 14th. One research analyst has rated the stock with a sell rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $157.44.

Insiders Place Their Bets

In related news, insider Werner Barth sold 10,000 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $148.67, for a total value of $1,486,700.00. Following the sale, the insider now owns 106,244 shares in the company, valued at approximately $15,795,295.48. The trade was a 8.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Andre Calantzopoulos sold 40,643 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $149.06, for a total transaction of $6,058,245.58. Following the sale, the chairman now directly owns 561,349 shares in the company, valued at approximately $83,674,681.94. The trade was a 6.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 131,822 shares of company stock worth $19,655,585 in the last 90 days. 0.13% of the stock is currently owned by corporate insiders.

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.