Icon Wealth Advisors LLC Sells 134 Shares of Philip Morris International Inc. (NYSE:PM)

Icon Wealth Advisors LLC trimmed its position in shares of Philip Morris International Inc. (NYSE:PM) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,142 shares of the company’s stock after selling 134 shares during the period. Icon Wealth Advisors LLC’s holdings in Philip Morris International were worth $1,595,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Valley Wealth Managers Inc. grew its position in Philip Morris International by 457.5% during the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock worth $27,000 after buying an additional 183 shares in the last quarter. Iron Horse Wealth Management LLC boosted its holdings 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 in the last quarter. Sachetta LLC boosted its holdings in Philip Morris International by 64.8% during the second 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. Concord Wealth Partners boosted its holdings in Philip Morris International by 2,709.1% during the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock valued at $38,000 after purchasing an additional 298 shares in the last quarter. Finally, Fortitude Family Office LLC boosted its holdings in Philip Morris International by 57.4% during the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after purchasing an additional 116 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 transaction of $13,234,052.30. Following the completion of the transaction, the chairman now owns 959,761 shares of the company’s stock, valued at $124,624,965.85. This trade represents a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total transaction of $974,850.00. Following the transaction, the insider now directly owns 95,418 shares of the company’s stock, valued at $12,402,431.64. This represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PM has been the topic of a number of recent research reports. Citigroup lifted their price objective on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Barclays lifted their target price on shares of Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their target price 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. Finally, Bank of America lifted their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $131.50.

Philip Morris International Trading Down 0.3 %

Shares of NYSE PM opened at $131.82 on Friday. The company has a fifty day moving average price of $125.50 and a 200 day moving average price of $115.53. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $134.15. The firm has a market cap of $204.96 billion, a PE ratio of 20.92, a PEG ratio of 2.31 and a beta of 0.54.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.09. The company had revenue of $9.91 billion for the quarter, compared to analysts’ expectations of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. Philip Morris International’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.67 EPS. Equities research analysts forecast that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently announced 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. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend was Thursday, September 26th. 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 85.71%.

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.