Calamos Advisors LLC Acquires 49,080 Shares of Philip Morris International Inc. $PM

Calamos Advisors LLC raised its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 8.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 630,905 shares of the company’s stock after acquiring an additional 49,080 shares during the quarter. Calamos Advisors LLC’s holdings in Philip Morris International were worth $120,389,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. GQG Partners LLC acquired a new stake in shares of Philip Morris International during the 2nd quarter valued at $8,220,008,000. Bank of America Corp DE acquired a new stake in Philip Morris International during the second quarter valued at $3,075,267,000. Legal & General Group Plc purchased a new position in Philip Morris International in the second quarter valued at about $1,316,151,000. Jupiter Topco LLC purchased a new position in Philip Morris International in the second quarter valued at about $726,464,000. Finally, Bank of New York Mellon Corp grew its stake in Philip Morris International by 30.9% in the second quarter. Bank of New York Mellon Corp now owns 11,669,878 shares of the company’s stock valued at $2,111,198,000 after purchasing an additional 2,755,662 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

NYSE:PM traded down $3.73 during trading hours on Friday, reaching $197.76. The company’s stock had a trading volume of 5,637,781 shares, compared to its average volume of 4,641,165. The company has a market cap of $308.25 billion, a price-to-earnings ratio of 28.87, a price-to-earnings-growth ratio of 2.79 and a beta of 0.34. Philip Morris International Inc. has a one year low of $146.35 and a one year high of $214.35. The business’s 50-day moving average is $195.56 and its 200-day moving average is $182.81.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.06. The company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $11.32 billion. Philip Morris International had a negative return on equity of 183.96% and a net margin of 10.73%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.24 earnings per share. On average, sell-side analysts predict that Philip Morris International Inc. will post 8.32 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Friday, October 2nd were paid a $1.60 dividend. The ex-dividend date was Friday, October 2nd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.47. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.2%. Philip Morris International’s dividend payout ratio is presently 93.43%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PM. Stifel Nicolaus raised their price target on Philip Morris International from $205.00 to $232.00 and gave the stock a “buy” rating in a research note on Tuesday. BTIG Research set a $221.00 price target on Philip Morris International and gave the company a “buy” rating in a research note on Friday, July 24th. Argus increased their price objective on Philip Morris International from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, October 26th. Weiss Ratings upgraded Philip Morris International from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday. Finally, Morgan Stanley raised their price objective on shares of Philip Morris International from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $212.40.

Philip Morris International Company Profile

Philip Morris International is a global tobacco and nicotine company that develops, manufactures and sells cigarettes and smoke-free products. Its cigarette brands include Marlboro in markets outside the United States, along with other regional and international brands.

The company’s smoke-free portfolio includes IQOS heated tobacco products, ZYN nicotine pouches and VEEV e-vapor products. Philip Morris International sells its products in markets around the world, with availability varying by country and subject to local regulations.

Philip Morris International became an independent publicly traded company in 2008 after separating from Altria Group.