Philip Morris International Inc. (NYSE:PM) Shares Bought by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. increased its stake in Philip Morris International Inc. (NYSE:PM) by 457.5% in the third quarter, HoldingsChannel.com reports. The firm owned 223 shares of the company’s stock after acquiring an additional 183 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Philip Morris International were worth $27,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Iron Horse Wealth Management LLC raised 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 acquiring an additional 219 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Philip Morris International during the 2nd quarter worth approximately $25,000. Sachetta LLC lifted its stake in 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 in the last quarter. Fortitude Family Office LLC lifted its stake in Philip Morris International by 57.4% in the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after buying an additional 116 shares in the last quarter. Finally, Olistico Wealth LLC purchased a new position in Philip Morris International during the second quarter worth $34,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Trading Up 0.3 %

Shares of PM stock opened at $128.59 on Friday. The company has a market cap of $199.94 billion, a PE ratio of 20.41, a P/E/G ratio of 2.19 and a beta of 0.54. The company’s fifty day simple moving average is $124.30 and its 200-day simple moving average is $113.44. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $134.15.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, beating the consensus estimate 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 company had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.68 billion. During the same period last year, the company posted $1.67 earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year. Equities research analysts expect that Philip Morris International Inc. will post 6.51 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were given a dividend of $1.35 per share. 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 yield of 4.20%. Philip Morris International’s payout ratio is 85.71%.

Insiders Place Their Bets

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the transaction, the insider now owns 95,418 shares in the company, valued at $12,402,431.64. The trade was a 7.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total value of $13,234,052.30. Following the sale, the chairman now owns 959,761 shares of the company’s stock, valued at $124,624,965.85. This represents a 9.60 % 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.

Wall Street Analysts Forecast Growth

PM has been the topic of several recent research reports. Citigroup upped their price objective on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Stifel Nicolaus reaffirmed a “buy” rating and set a $145.00 price target (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. UBS Group lifted their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped 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. Finally, JPMorgan Chase & Co. lifted their target price on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. One investment 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 data from MarketBeat, Philip Morris International currently has an average rating of “Moderate Buy” and a consensus price target of $127.85.

About Philip Morris International

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.