Brown Brothers Harriman & Co. Acquires 1,701 Shares of Philip Morris International Inc. (NYSE:PM)

Brown Brothers Harriman & Co. lifted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 0.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 742,604 shares of the company’s stock after buying an additional 1,701 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Philip Morris International were worth $90,152,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Iron Horse Wealth Management LLC increased its stake in Philip Morris International by 684.4% in the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after acquiring an additional 219 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in Philip Morris International during the 2nd quarter worth $25,000. Sachetta LLC lifted its stake in shares of Philip Morris International by 64.8% in the second quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after acquiring an additional 105 shares during the period. Valley Wealth Managers Inc. lifted its position in shares of Philip Morris International by 457.5% in the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock worth $27,000 after purchasing an additional 183 shares during the period. Finally, Fortitude Family Office LLC boosted its position in Philip Morris International by 57.4% during the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after acquiring an additional 116 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Trading Down 0.9 %

Shares of PM opened at $129.99 on Monday. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $134.15. The company has a market cap of $202.11 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 2.28 and a beta of 0.54. The stock has a 50-day moving average price of $124.77 and a 200-day moving average price of $114.85.

Philip Morris International (NYSE:PM) last released its quarterly 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 business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.67 EPS. As a group, analysts predict 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 declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were paid a dividend of $1.35 per share. The ex-dividend date was Thursday, September 26th. This represents a $5.40 annualized dividend and a yield of 4.15%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is 85.71%.

Analysts Set New Price Targets

Several brokerages have recently commented on PM. Stifel Nicolaus reaffirmed a “buy” rating and set a $145.00 price objective (up previously from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Barclays raised their price objective on Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. 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 report on Wednesday, September 4th. Finally, UBS Group raised their target price on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, Philip Morris International has an average rating of “Moderate Buy” and a consensus target price of $131.50.

Insider Transactions at Philip Morris International

In other news, insider Werner Barth sold 7,500 shares of the company’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 completion of the sale, the insider now owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. This represents a 7.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction 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. The trade was a 9.60 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

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.