Neo Ivy Capital Management Invests $2.41 Million in Philip Morris International Inc. (NYSE:PM)

Neo Ivy Capital Management purchased a new position in Philip Morris International Inc. (NYSE:PM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,814 shares of the company’s stock, valued at approximately $2,406,000. Philip Morris International comprises 0.8% of Neo Ivy Capital Management’s investment portfolio, making the stock its 29th largest position.

A number of other hedge funds have also recently made changes to their positions in the stock. Coldstream Capital Management Inc. lifted its stake in Philip Morris International by 6.6% in the third quarter. Coldstream Capital Management Inc. now owns 34,030 shares of the company’s stock worth $4,138,000 after acquiring an additional 2,098 shares during the period. Geode Capital Management LLC lifted its position in shares of Philip Morris International by 2.0% during the third quarter. Geode Capital Management LLC now owns 32,101,324 shares of the company’s stock valued at $3,886,818,000 after buying an additional 621,034 shares during the last quarter. Brophy Wealth Management LLC purchased a new stake in shares of Philip Morris International during the third quarter valued at about $203,000. Vestcor Inc lifted its position in shares of Philip Morris International by 1.6% during the third quarter. Vestcor Inc now owns 65,882 shares of the company’s stock valued at $7,998,000 after buying an additional 1,061 shares during the last quarter. Finally, Executive Wealth Management LLC purchased a new stake in shares of Philip Morris International during the third quarter valued at about $508,000. 78.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on PM shares. Barclays increased their price target on shares of Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Bank of America increased their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Citigroup increased their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Stifel Nicolaus reissued a “buy” rating and set a $145.00 price target (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Finally, UBS Group increased their price objective on shares of Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $131.50.

Philip Morris International Trading Up 0.2 %

Shares of NYSE:PM opened at $128.99 on Wednesday. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15. The company’s 50 day moving average is $126.86 and its 200 day moving average is $117.27. The company has a market cap of $200.56 billion, a PE ratio of 20.47, a price-to-earnings-growth ratio of 2.29 and a beta of 0.53.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.09. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The company had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. During the same quarter in the prior year, the company earned $1.67 EPS. Philip Morris International’s quarterly revenue was up 8.4% on a year-over-year basis. Equities research analysts predict that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were paid a dividend of $1.35 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.19%. Philip Morris International’s dividend payout ratio (DPR) is presently 85.71%.

Insider Activity

In other news, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the completion of the transaction, the insider now directly owns 95,418 shares of the company’s stock, valued at $12,402,431.64. The trade was a 7.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the transaction, the chairman now directly owns 959,761 shares of the company’s stock, valued at approximately $124,624,965.85. This trade represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Philip Morris International 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.