2,534 Shares in Philip Morris International Inc. (NYSE:PM) Purchased by Code Waechter LLC

Code Waechter 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 SEC. The institutional investor purchased 2,534 shares of the company’s stock, valued at approximately $308,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC increased its position in shares of Philip Morris International by 684.4% during the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after acquiring an additional 219 shares during the period. Sachetta LLC raised its position in 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 purchasing an additional 105 shares in the last quarter. Fortitude Family Office LLC lifted its holdings in shares of Philip Morris International by 57.4% in the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after buying an additional 116 shares during the period. Boyd Watterson Asset Management LLC OH grew its position in shares of Philip Morris International by 250.0% during the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock worth $30,000 after buying an additional 230 shares in the last quarter. Finally, Olistico Wealth LLC purchased a new position in shares of Philip Morris International during the second quarter valued at $34,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. UBS Group upped their price objective on shares of Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a research note on Monday, September 9th. The Goldman Sachs Group increased their price objective 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. Stifel Nicolaus boosted their price objective on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. JPMorgan Chase & Co. increased their target price on Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Citigroup lifted their target price on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $122.41.

Philip Morris International Trading Up 0.6 %

Shares of NYSE PM traded up $0.71 during midday trading on Friday, reaching $120.10. The company had a trading volume of 2,630,090 shares, compared to its average volume of 5,359,857. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $128.22. The business’s 50-day simple moving average is $120.84 and its 200 day simple moving average is $107.38. The stock has a market cap of $186.73 billion, a P/E ratio of 21.26, a P/E/G ratio of 2.35 and a beta of 0.55.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. The company had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.60 EPS. Analysts predict that Philip Morris International Inc. will post 6.45 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were paid 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 4.50%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio is presently 95.58%.

Insider Buying and Selling

In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the sale, the insider now directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the transaction, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the sale, the insider now directly owns 158,447 shares in the company, valued at approximately $17,906,095.47. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

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.