Kelly Financial Services LLC Buys New Position in Philip Morris International Inc. (NYSE:PM)

Kelly Financial Services LLC purchased a new position in shares of Philip Morris International Inc. (NYSE:PM) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,826 shares of the company’s stock, valued at approximately $220,000.

Other institutional investors have also modified their holdings of the company. Valley Wealth Managers Inc. raised its holdings in Philip Morris International by 457.5% in the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock valued at $27,000 after acquiring an additional 183 shares during the last quarter. Dunhill Financial LLC grew its position in shares of Philip Morris International by 203.8% in the third quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock valued at $29,000 after purchasing an additional 161 shares during the period. Concord Wealth Partners increased its stake in Philip Morris International by 2,709.1% in the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock valued at $38,000 after purchasing an additional 298 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in Philip Morris International during the third quarter worth about $54,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in Philip Morris International in the 4th quarter worth about $54,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Performance

PM stock opened at $121.88 on Friday. The firm has a market cap of $189.51 billion, a P/E ratio of 19.35, a price-to-earnings-growth ratio of 1.86 and a beta of 0.54. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $134.15. The stock has a 50-day simple moving average of $125.50 and a 200-day simple moving average of $121.19.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.09. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The company had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. During the same quarter last year, the company earned $1.67 earnings per share. Philip Morris International’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, equities research analysts predict that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, December 26th were issued a $1.35 dividend. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.43%. Philip Morris International’s dividend payout ratio is currently 85.71%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PM shares. JPMorgan Chase & Co. increased their price objective on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Morgan Stanley started coverage on shares of Philip Morris International in a report on Thursday. They issued an “overweight” rating and a $140.00 price target on the stock. Barclays dropped their price objective on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Citigroup lifted their target price on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Stifel Nicolaus restated 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Philip Morris International presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.35.

Insider Buying and Selling at Philip Morris International

In other news, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction 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 trade represents a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the sale, the chairman now directly owns 959,761 shares in the company, 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. 0.14% of the stock is currently owned by corporate insiders.

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.