KKM Financial LLC Buys New Shares in Philip Morris International Inc. (NYSE:PM)

KKM Financial LLC bought a new position in Philip Morris International Inc. (NYSE:PM) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,733 shares of the company’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in shares of Philip Morris International by 16.3% in 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 acquiring an additional 1,856,551 shares during the period. First Eagle Investment Management LLC boosted its holdings in Philip Morris International by 7.4% in the second quarter. First Eagle Investment Management LLC now owns 10,655,948 shares of the company’s stock valued at $1,079,767,000 after purchasing an additional 736,961 shares during the last quarter. Legal & General Group Plc grew its position in Philip Morris International by 4.7% during the 2nd quarter. Legal & General Group Plc now owns 10,430,837 shares of the company’s stock worth $1,056,957,000 after purchasing an additional 469,806 shares during the period. Ninety One UK Ltd raised its stake in shares of Philip Morris International by 0.9% during the 2nd quarter. Ninety One UK Ltd now owns 9,467,759 shares of the company’s stock valued at $959,368,000 after buying an additional 86,667 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Philip Morris International by 57.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock valued at $1,121,932,000 after buying an additional 3,363,454 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Performance

NYSE:PM opened at $129.99 on Friday. The stock has a market capitalization of $202.11 billion, a PE ratio of 20.63, a P/E/G ratio of 2.30 and a beta of 0.54. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $134.15. The company has a fifty day moving average of $124.77 and a two-hundred day moving average of $114.62.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. The business had revenue of $9.91 billion during the quarter, compared to analysts’ expectations of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.67 earnings per share. Research analysts forecast that Philip Morris International Inc. will post 6.51 earnings per share for the current 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 given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.15%. The ex-dividend date was Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is 85.71%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PM shares. Barclays raised their target price on Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Bank of America raised their price objective on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. UBS Group boosted their target price on shares of Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group raised their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $145.00 price objective (up previously from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.50.

Insider Transactions at Philip Morris International

In related news, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total transaction of $974,850.00. Following the transaction, the insider now owns 95,418 shares in the company, valued at approximately $12,402,431.64. This trade represents a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s stock in a transaction on 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 directly owns 959,761 shares in the company, valued at $124,624,965.85. This trade represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

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.