Philip James Wealth Mangement LLC bought a new position in Philip Morris International Inc. (NYSE:PM - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,647 shares of the company's stock, valued at approximately $564,000.
A number of other institutional investors have also modified their holdings of the stock. Iron Horse Wealth Management LLC increased its stake 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 valued at $25,000 after purchasing an additional 219 shares during the last quarter. Sachetta LLC grew its position in shares of Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company's stock valued at $27,000 after buying an additional 105 shares during the last quarter. Concord Wealth Partners raised its stake in Philip Morris International by 2,709.1% during the third quarter. Concord Wealth Partners now owns 309 shares of the company's stock worth $38,000 after acquiring an additional 298 shares during the period. Fortitude Family Office LLC lifted its holdings in Philip Morris International by 57.4% in 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. Finally, Olistico Wealth LLC acquired a new position in Philip Morris International in the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 78.63% of the company's stock.
NYSE:PM traded up $1.15 during midday trading on Friday, hitting $124.93. 716,457 shares of the stock were exchanged, compared to its average volume of 5,375,398. The company has a market capitalization of $194.24 billion, a price-to-earnings ratio of 19.65, a P/E/G ratio of 2.28 and a beta of 0.54. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $134.15. The business has a 50-day moving average price of $124.13 and a two-hundred day moving average price of $112.11.
Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.82 by $0.09. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. 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 previous year, the business earned $1.67 EPS. The company's quarterly revenue was up 8.4% compared to the same quarter last year. Sell-side analysts forecast that Philip Morris International Inc. will post 6.51 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were given a dividend of $1.35 per share. This is a positive change from Philip Morris International's previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.32%. Philip Morris International's dividend payout ratio (DPR) is 85.71%.
In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the company's stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total value of $13,234,052.30. Following the transaction, the chairman now owns 959,761 shares of the company's stock, valued at approximately $124,624,965.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total value of $13,234,052.30. Following the transaction, the chairman now owns 959,761 shares of the company's stock, valued at approximately $124,624,965.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Werner Barth sold 7,500 shares of the company's stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the sale, the insider now directly owns 95,418 shares of the company's stock, valued at $12,402,431.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company's stock.
A number of analysts have recently weighed in on PM shares. Bank of America increased their price target on Philip Morris International from $125.00 to $139.00 and gave the stock a "buy" rating in a research report on Wednesday, September 4th. Citigroup increased their target price on Philip Morris International from $118.50 to $132.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. StockNews.com upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Monday, July 22nd. Barclays lifted their price objective 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. Finally, The Goldman Sachs Group boosted their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Philip Morris International has a consensus rating of "Moderate Buy" and an average target price of $127.85.
View Our Latest Research Report on Philip Morris International
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.
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