Allen Wealth Management LLC Buys New Position in Philip Morris International Inc. (NYSE:PM)

Allen Wealth Management LLC purchased a new position in shares of Philip Morris International Inc. (NYSE:PM) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,844 shares of the company’s stock, valued at approximately $224,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pure Financial Advisors LLC lifted its holdings in Philip Morris International by 7.9% in the third quarter. Pure Financial Advisors LLC now owns 6,621 shares of the company’s stock valued at $804,000 after buying an additional 482 shares during the period. Private Wealth Partners LLC boosted its holdings in Philip Morris International by 5.4% in the third quarter. Private Wealth Partners LLC now owns 3,587 shares of the company’s stock worth $435,000 after acquiring an additional 184 shares in the last quarter. Optas LLC acquired a new stake in Philip Morris International in the 3rd quarter valued at $268,000. Chicago Partners Investment Group LLC grew its holdings in shares of Philip Morris International by 3.7% during the third quarter. Chicago Partners Investment Group LLC now owns 8,474 shares of the company’s stock valued at $1,114,000 after buying an additional 299 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Philip Morris International by 29.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 26,612 shares of the company’s stock valued at $3,231,000 after purchasing an additional 5,996 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Down 1.5 %

NYSE PM opened at $130.65 on Friday. The business has a 50-day moving average price of $123.70 and a 200-day moving average price of $111.32. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15. The firm has a market cap of $203.14 billion, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 2.32 and a beta of 0.54.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.82 by $0.09. The company had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $1.67 earnings per share. Research analysts expect that Philip Morris International Inc. will post 6.51 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were issued a dividend of $1.35 per share. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is presently 85.71%.

Insider Transactions at Philip Morris International

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the sale, the chairman now directly owns 959,761 shares in the company, valued at approximately $124,624,965.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total value of $13,234,052.30. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Werner Barth sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the sale, the insider now owns 95,418 shares of the company’s stock, valued at $12,402,431.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 118,418 shares of company stock valued at $15,247,052. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. UBS Group increased their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their target price on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, The Goldman Sachs Group boosted their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the stock 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 issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Philip Morris International currently has an average rating of “Moderate Buy” and a consensus target price of $127.85.

Philip Morris International Company Profile

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.