Private Wealth Group LLC Takes Position in Philip Morris International Inc. (NYSE:PM)

Private Wealth Group LLC purchased a new stake in shares of Philip Morris International Inc. (NYSE:PM) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,850 shares of the company’s stock, valued at approximately $225,000.

Several other hedge funds also recently modified their holdings of PM. Lowe Brockenbrough & Co. Inc. grew its holdings in shares of Philip Morris International by 5.1% in the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 38,817 shares of the company’s stock worth $4,765,000 after acquiring an additional 1,873 shares during the last quarter. Campbell Wealth Management acquired a new position in shares of Philip Morris International in the 3rd quarter worth $315,000. Gladstone Institutional Advisory LLC grew its holdings in shares of Philip Morris International by 37.7% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 18,899 shares of the company’s stock worth $2,294,000 after acquiring an additional 5,178 shares during the last quarter. Pursue Wealth Partners LLC acquired a new position in shares of Philip Morris International in the 3rd quarter worth $337,000. Finally, Principal Securities Inc. grew its holdings in shares of Philip Morris International by 7.9% in the 3rd quarter. Principal Securities Inc. now owns 54,715 shares of the company’s stock worth $6,642,000 after acquiring an additional 4,022 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Trading Down 1.5 %

PM opened at $130.65 on Friday. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $134.15. The stock has a fifty day moving average price of $123.70 and a 200 day moving average price of $111.17. The stock has a market cap of $203.14 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 2.31 and a beta of 0.55.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share 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 during the quarter, compared to analysts’ expectations of $9.68 billion. During the same quarter in the previous year, the firm earned $1.67 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were given a $1.35 dividend. The ex-dividend date was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.13%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is currently 85.71%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. UBS Group raised their target price on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research report on Wednesday, October 23rd. Citigroup raised 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. Bank of America raised their target price 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. Finally, StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Philip Morris International presently has an average rating of “Moderate Buy” and an average price target of $127.85.

Insiders Place Their Bets

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s 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 completion of the sale, the chairman now owns 959,761 shares of the company’s stock, valued at $124,624,965.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 completion of the transaction, the chairman now owns 959,761 shares in the company, valued at $124,624,965.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 118,418 shares of company stock valued at $15,247,052 over the last quarter. Insiders own 0.13% of the company’s stock.

About 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.