Bronte Capital Management Pty Ltd. Lowers Stake in Philip Morris International Inc. $PM

Bronte Capital Management Pty Ltd. trimmed its stake in shares of Philip Morris International Inc. (NYSE:PM) by 22.8% in the third quarter, HoldingsChannel.com reports. The fund owned 417,650 shares of the company’s stock after selling 123,451 shares during the quarter. Philip Morris International comprises about 9.2% of Bronte Capital Management Pty Ltd.’s investment portfolio, making the stock its 5th biggest position. Bronte Capital Management Pty Ltd.’s holdings in Philip Morris International were worth $67,743,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Legacy Investment Solutions LLC acquired a new position in shares of Philip Morris International in the 2nd quarter valued at approximately $25,000. Traub Capital Management LLC bought a new position in Philip Morris International in the second quarter valued at approximately $25,000. Marquette Asset Management LLC raised its position in Philip Morris International by 1,677.8% during the third quarter. Marquette Asset Management LLC now owns 160 shares of the company’s stock valued at $26,000 after purchasing an additional 151 shares in the last quarter. Briaud Financial Planning Inc lifted its stake in Philip Morris International by 266.7% during the second quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after purchasing an additional 120 shares during the last quarter. Finally, Estabrook Capital Management acquired a new stake in shares of Philip Morris International in the 2nd quarter valued at $30,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Stock Performance

PM stock opened at $180.22 on Thursday. The company has a market capitalization of $280.54 billion, a P/E ratio of 32.65, a PEG ratio of 1.91 and a beta of 0.39. The company has a fifty day moving average price of $162.98 and a 200-day moving average price of $161.39. Philip Morris International Inc. has a 52-week low of $130.31 and a 52-week high of $186.69.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th were issued a dividend of $1.47 per share. The ex-dividend date of this dividend was Friday, December 26th. This represents a $5.88 annualized dividend and a yield of 3.3%. Philip Morris International’s payout ratio is presently 106.52%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PM shares. Barclays lowered their price target on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a report on Monday, November 17th. JPMorgan Chase & Co. lowered their target price on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Stifel Nicolaus set a $180.00 price target on shares of Philip Morris International in a report on Tuesday, October 21st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research note on Thursday, January 22nd. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $184.56.

Philip Morris International Company Profile

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.