Huber Capital Management LLC Has $4.85 Million Position in Philip Morris International Inc. (NYSE:PM)

Huber Capital Management LLC decreased its stake in Philip Morris International Inc. (NYSE:PM) by 5.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,859 shares of the company’s stock after selling 3,000 shares during the period. Philip Morris International accounts for about 1.1% of Huber Capital Management LLC’s holdings, making the stock its 29th biggest holding. Huber Capital Management LLC’s holdings in Philip Morris International were worth $4,850,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PM. Vanguard Group Inc. raised its holdings in Philip Morris International by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 136,556,344 shares of the company’s stock worth $12,511,292,000 after purchasing an additional 481,636 shares during the last quarter. Capital World Investors lifted its holdings in Philip Morris International by 1.5% in the first quarter. Capital World Investors now owns 111,247,656 shares of the company’s stock valued at $10,192,510,000 after buying an additional 1,684,992 shares during the period. Capital Research Global Investors boosted its position in 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 valued at $5,517,085,000 after acquiring an additional 1,800,864 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Philip Morris International by 16.3% during 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. Finally, Northern Trust Corp lifted its stake in shares of Philip Morris International by 0.6% in the 4th quarter. Northern Trust Corp now owns 13,126,737 shares of the company’s stock valued at $1,234,963,000 after purchasing an additional 77,820 shares during the period. 78.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PM has been the subject of a number of research analyst reports. Bank of America lifted their target price on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Stifel Nicolaus increased 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. JPMorgan Chase & Co. upped their price objective on shares of Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $117.05.

Insiders Place Their Bets

In other news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction that occurred 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 directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction dated 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 $17,906,095.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. 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 $120.79 on Friday. Philip Morris International Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $128.22. The firm’s 50-day simple moving average is $118.17 and its 200 day simple moving average is $104.57. The stock has a market cap of $187.77 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The company had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period last year, the business posted $1.60 earnings per share. Philip Morris International’s revenue was up 5.6% on a year-over-year basis. As a group, analysts predict that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 26th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date is 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 105.47%.

Philip Morris International Company 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.