Philip Morris International Inc. (NYSE:PM) Shares Acquired by AQR Capital Management LLC

AQR Capital Management LLC grew its stake in Philip Morris International Inc. (NYSE:PM) by 29.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 322,043 shares of the company’s stock after purchasing an additional 73,234 shares during the quarter. AQR Capital Management LLC’s holdings in Philip Morris International were worth $32,571,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PM. Iron Horse Wealth Management LLC boosted its position in Philip Morris International by 684.4% during the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after acquiring an additional 219 shares during the last quarter. Sachetta LLC boosted its position in Philip Morris International by 64.8% during the second quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after acquiring an additional 105 shares during the last quarter. Fortitude Family Office LLC boosted its position in Philip Morris International by 57.4% during the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after acquiring an additional 116 shares during the last quarter. Boyd Watterson Asset Management LLC OH boosted its position in Philip Morris International by 250.0% during the first quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock worth $30,000 after acquiring an additional 230 shares during the last quarter. Finally, Olistico Wealth LLC acquired a new position in Philip Morris International during the second quarter worth about $34,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Insider Buying and Selling

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 sale, the insider now directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the business’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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the transaction, the insider now owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Philip Morris International Stock Performance

Philip Morris International stock opened at $120.62 on Monday. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $128.22. The company’s 50 day simple moving average is $119.60 and its 200-day simple moving average is $105.72. The company has a market capitalization of $187.51 billion, a price-to-earnings ratio of 23.56, a price-to-earnings-growth ratio of 2.37 and a beta of 0.55.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.02. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The firm had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the prior year, the firm earned $1.60 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities analysts expect that Philip Morris International Inc. will post 6.45 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 26th will be paid a dividend of $1.35 per share. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend is Thursday, September 26th. Philip Morris International’s dividend payout ratio is presently 105.47%.

Analyst Ratings Changes

PM has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Stifel Nicolaus lifted 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. Bank of America lifted their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, UBS Group lifted their target price on shares of Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a research note on Monday, September 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average target price of $119.14.

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.