Mezzasalma Advisors LLC Purchases New Stake in Philip Morris International Inc. (NYSE:PM)

Mezzasalma Advisors LLC bought a new stake in shares of Philip Morris International Inc. (NYSE:PM) during the third quarter, HoldingsChannel reports. The institutional investor bought 1,945 shares of the company’s stock, valued at approximately $236,000.

A number of other large investors also recently made changes to their positions in PM. SPC Financial Inc. boosted its position in shares of Philip Morris International by 2.5% during the third quarter. SPC Financial Inc. now owns 4,129 shares of the company’s stock worth $501,000 after buying an additional 100 shares during the period. B.O.S.S. Retirement Advisors LLC boosted its position in Philip Morris International by 3.5% during the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 14,457 shares of the company’s stock worth $1,755,000 after acquiring an additional 486 shares during the last quarter. Fulton Breakefield Broenniman LLC acquired a new position in Philip Morris International during the 3rd quarter worth approximately $225,000. Firethorn Wealth Partners LLC bought a new position in shares of Philip Morris International during the 3rd quarter worth approximately $215,000. Finally, Regent Peak Wealth Advisors LLC raised its holdings in shares of Philip Morris International by 4.5% in the third quarter. Regent Peak Wealth Advisors LLC now owns 2,209 shares of the company’s stock valued at $268,000 after purchasing an additional 96 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Down 0.1 %

NYSE PM opened at $120.71 on Thursday. The company has a market cap of $187.65 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55. The firm’s 50-day simple moving average is $121.19 and its two-hundred day simple moving average is $108.10. Philip Morris International Inc. has a 52 week low of $87.23 and a 52 week high of $128.22.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the prior year, the company posted $1.60 EPS. Philip Morris International’s revenue was up 5.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were given a dividend of $1.35 per share. The ex-dividend date was Thursday, September 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.47%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is 105.47%.

Insider Buying and Selling

In related news, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total value of $2,260,200.00. Following the completion of the sale, the insider now owns 158,447 shares in the company, valued at $17,906,095.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the sale, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Wilde Frederic De sold 20,000 shares of the 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 sale, the insider now directly owns 158,447 shares in the company, valued at $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 company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on PM. Citigroup increased their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. increased 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. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Finally, The Goldman Sachs Group increased their target price on 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 investment 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $123.95.

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.