Philip Morris International Inc. (NYSE:PM) Stock Holdings Increased by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc lifted its holdings in Philip Morris International Inc. (NYSE:PM) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 141,620 shares of the company’s stock after purchasing an additional 2,788 shares during the period. Pinnacle Financial Partners Inc’s holdings in Philip Morris International were worth $17,193,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Iron Horse Wealth Management LLC lifted its position in shares of Philip Morris International by 684.4% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after buying an additional 219 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of Philip Morris International in the 2nd quarter valued at $25,000. Sachetta LLC boosted its stake in shares of Philip Morris International by 64.8% in 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 grew 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 purchasing an additional 116 shares during the last quarter. Finally, Olistico Wealth LLC bought a new stake in Philip Morris International during the second quarter worth about $34,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the sale, the insider now owns 95,418 shares in the company, valued at $12,402,431.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the completion of the sale, the insider now directly owns 95,418 shares in the company, valued at $12,402,431.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the company’s 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 completion of the transaction, the chairman now directly owns 959,761 shares in the company, valued at approximately $124,624,965.85. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Philip Morris International Stock Performance

Shares of PM stock opened at $124.19 on Wednesday. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $134.15. The company’s 50 day moving average price is $124.21 and its two-hundred day moving average price is $113.02. The company has a market capitalization of $193.09 billion, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 2.19 and a beta of 0.54.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share 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 analysts’ expectations of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. Philip Morris International’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.67 earnings per share. Analysts forecast that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were given a dividend of $1.35 per share. The ex-dividend date was Thursday, September 26th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.35%. Philip Morris International’s payout ratio is 85.71%.

Analyst Ratings Changes

PM has been the subject of a number of research analyst reports. Bank of America lifted their price target on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft upped their price objective on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Barclays lifted their target price on Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. UBS Group raised their price target on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a report on Wednesday, October 23rd. Finally, StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $127.85.

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.