Costello Asset Management INC acquired a new stake in shares of Philip Morris International Inc. (NYSE:PM) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 18,235 shares of the company’s stock, valued at approximately $1,217,000. Philip Morris International accounts for approximately 1.6% of Costello Asset Management INC’s holdings, making the stock its 21st largest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in PM. Vanguard Group Inc. lifted its holdings in shares of Philip Morris International by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 118,890,424 shares of the company’s stock valued at $9,694,325,000 after acquiring an additional 1,516,211 shares in the last quarter. Vanguard Group Inc lifted its holdings in shares of Philip Morris International by 1.3% during the 3rd quarter. Vanguard Group Inc now owns 118,890,424 shares of the company’s stock valued at $9,694,325,000 after acquiring an additional 1,516,211 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Philip Morris International by 5.1% during the 4th quarter. BlackRock Inc. now owns 95,049,723 shares of the company’s stock valued at $6,345,520,000 after acquiring an additional 4,576,645 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Philip Morris International by 11.0% during the 3rd quarter. Capital Research Global Investors now owns 46,383,194 shares of the company’s stock valued at $3,782,086,000 after acquiring an additional 4,613,349 shares in the last quarter. Finally, Capital International Investors lifted its holdings in shares of Philip Morris International by 325.0% during the 3rd quarter. Capital International Investors now owns 33,897,955 shares of the company’s stock valued at $2,764,039,000 after acquiring an additional 25,922,397 shares in the last quarter. 74.45% of the stock is owned by institutional investors.

Several equities analysts recently weighed in on the stock. Piper Jaffray Companies set a $110.00 target price on shares of Philip Morris International and gave the company a “buy” rating in a report on Monday, December 3rd. Morgan Stanley reduced their target price on shares of Philip Morris International from $102.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, January 8th. ValuEngine lowered shares of Philip Morris International from a “hold” rating to a “sell” rating in a report on Monday, December 31st. Jefferies Financial Group restated a “hold” rating and set a $80.00 target price on shares of Philip Morris International in a report on Sunday, February 10th. Finally, Zacks Investment Research upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a report on Thursday, February 14th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. Philip Morris International presently has a consensus rating of “Hold” and an average target price of $91.86.

Shares of PM stock opened at $89.79 on Friday. Philip Morris International Inc. has a 12 month low of $64.67 and a 12 month high of $105.80. The firm has a market capitalization of $138.98 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 1.85 and a beta of 0.95.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, February 7th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. Philip Morris International had a net margin of 9.90% and a negative return on equity of 76.82%. The firm had revenue of $7.50 billion for the quarter, compared to analyst estimates of $7.46 billion. During the same quarter in the previous year, the business posted $1.32 EPS. The firm’s revenue was down 9.6% compared to the same quarter last year. Equities analysts expect that Philip Morris International Inc. will post 5.36 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Tuesday, March 26th will be issued a $1.14 dividend. The ex-dividend date is Monday, March 25th. This represents a $4.56 dividend on an annualized basis and a yield of 5.08%. Philip Morris International’s dividend payout ratio is currently 89.41%.

In other Philip Morris International news, CEO Andre Calantzopoulos sold 50,000 shares of the business’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $84.76, for a total value of $4,238,000.00. Following the transaction, the chief executive officer now owns 844,901 shares in the company, valued at approximately $71,613,808.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.22% of the company’s stock.

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Philip Morris International Profile

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.

Further Reading: Why does a company issue an IPO?

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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