Assetmark Inc. Increases Holdings in Philip Morris International Inc. (NYSE:PM)

Assetmark Inc. raised its stake in Philip Morris International Inc. (NYSE:PM) by 5.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 173,597 shares of the company’s stock after buying an additional 9,415 shares during the quarter. Assetmark Inc.’s holdings in Philip Morris International were worth $21,075,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Iron Horse Wealth Management LLC increased its position 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 worth $25,000 after purchasing an additional 219 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in Philip Morris International in the 2nd quarter valued at about $25,000. Sachetta LLC grew 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 buying an additional 105 shares during the period. Fortitude Family Office LLC increased its holdings in shares of Philip Morris International by 57.4% during the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after buying an additional 116 shares during the last quarter. Finally, Olistico Wealth LLC purchased a new stake in shares of Philip Morris International during the 2nd quarter valued at approximately $34,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PM has been the subject of several analyst reports. Citigroup increased their price objective on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised their price objective on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Barclays upped 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 report on Wednesday, October 30th. Bank of America lifted their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Finally, The Goldman Sachs Group upped their price objective on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $127.85.

Insider Transactions at Philip Morris International

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total value of $13,234,052.30. Following the transaction, the chairman now owns 959,761 shares in the company, valued at approximately $124,624,965.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, 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 in the company, valued at approximately $12,402,431.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction that occurred on Wednesday, October 23rd. The stock was 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 in the company, valued at approximately $124,624,965.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Philip Morris International Stock Performance

PM opened at $126.24 on Friday. The company has a market cap of $196.28 billion, a P/E ratio of 20.04, a PEG ratio of 2.19 and a beta of 0.54. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $134.15. The business’s 50-day simple moving average is $124.21 and its 200-day simple moving average is $112.41.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.09. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The firm had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. During the same period in the previous year, the business earned $1.67 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, analysts predict that Philip Morris International Inc. will post 6.51 earnings per share 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. Investors of record on Thursday, September 26th were issued a $1.35 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.28%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) 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.