Philip Morris International Inc. (NYSE:PM) Shares Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its stake in Philip Morris International Inc. (NYSE:PM) by 24.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,701 shares of the company’s stock after acquiring an additional 7,094 shares during the period. Ritholtz Wealth Management’s holdings in Philip Morris International were worth $4,334,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of PM. GQG Partners LLC grew its stake in shares of Philip Morris International by 5,006.0% in the 1st quarter. GQG Partners LLC now owns 5,958,391 shares of the company’s stock valued at $545,908,000 after buying an additional 5,841,696 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Philip Morris International by 79.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,878,158 shares of the company’s stock valued at $595,634,000 after acquiring an additional 2,599,684 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Philip Morris International by 5,045.1% in the first quarter. Van ECK Associates Corp now owns 2,122,729 shares of the company’s stock valued at $194,484,000 after purchasing an additional 2,081,472 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Philip Morris International by 16.3% during the second quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock worth $1,341,050,000 after purchasing an additional 1,856,551 shares during the period. Finally, Capital Research Global Investors boosted its stake in Philip Morris International by 3.1% in the 1st quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock valued at $5,517,085,000 after buying an additional 1,800,864 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on PM. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. The Goldman Sachs Group increased their target price on Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. upped their price objective on shares of Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Stifel Nicolaus increased 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 report on Wednesday, September 4th. Finally, Barclays boosted their target price on Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International presently has an average rating of “Moderate Buy” and an average price target of $122.41.

Philip Morris International Stock Performance

Shares of PM traded up $0.71 on Friday, reaching $120.10. The stock had a trading volume of 2,630,090 shares, compared to its average volume of 5,359,857. The company has a 50-day simple moving average of $120.84 and a 200-day simple moving average of $107.38. The firm has a market capitalization of $186.73 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55. Philip Morris International Inc. has a 12-month low of $87.23 and a 12-month high of $128.22.

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

Philip Morris International Increases Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 4.50%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio is currently 95.58%.

Philip Morris International 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.