Harfst & Associates Inc. Invests $213,000 in Philip Morris International Inc. (NYSE:PM)

Harfst & Associates Inc. bought a new stake in Philip Morris International Inc. (NYSE:PM) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,751 shares of the company’s stock, valued at approximately $213,000.

A number of other institutional investors have also modified their holdings of PM. RFG Advisory LLC increased its holdings in shares of Philip Morris International by 3.1% in the 1st quarter. RFG Advisory LLC now owns 14,080 shares of the company’s stock valued at $1,290,000 after acquiring an additional 421 shares during the period. Gulf International Bank UK Ltd increased its stake in Philip Morris International by 5.1% in the 1st quarter. Gulf International Bank UK Ltd now owns 10,001 shares of the company’s stock valued at $916,000 after buying an additional 489 shares during the period. Rockland Trust Co. increased its stake in Philip Morris International by 0.8% in the 1st quarter. Rockland Trust Co. now owns 17,722 shares of the company’s stock valued at $1,624,000 after buying an additional 139 shares during the period. MJP Associates Inc. ADV increased its stake in Philip Morris International by 38.8% in the 1st quarter. MJP Associates Inc. ADV now owns 4,218 shares of the company’s stock valued at $386,000 after buying an additional 1,178 shares during the period. Finally, &PARTNERS increased its stake in Philip Morris International by 86.4% in the 1st quarter. &PARTNERS now owns 5,792 shares of the company’s stock valued at $515,000 after buying an additional 2,684 shares during the period. 78.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PM shares. JPMorgan Chase & Co. boosted 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 note on Thursday, July 25th. Bank of America boosted their price objective 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. Deutsche Bank Aktiengesellschaft boosted 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 dropped their price objective on shares of Philip Morris International from $105.00 to $103.00 and set a “sell” rating on the stock in a research note on Tuesday. Finally, Citigroup upped their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $123.95.

Insider Buying and Selling at Philip Morris International

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 transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. This represents a 0.00 % decrease in their position. The transaction 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 transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Philip Morris International Stock Up 0.1 %

Shares of Philip Morris International stock traded up $0.07 on Friday, hitting $120.21. The company’s stock had a trading volume of 4,046,070 shares, compared to its average volume of 5,321,175. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $128.22. The firm has a fifty day moving average price of $121.35 and a 200-day moving average price of $108.38. The company has a market capitalization of $186.87 billion, a P/E ratio of 23.48, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.57 by $0.02. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The business had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period in the previous year, the firm earned $1.60 EPS. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, analysts expect 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. Investors of record on Thursday, September 26th were given a $1.35 dividend. The ex-dividend date was Thursday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.49%. Philip Morris International’s payout ratio is currently 105.47%.

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.