Strategic Investment Solutions Inc. IL decreased its position in shares of Philip Morris International Inc. (NYSE:PM – Free Report) by 17.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,127 shares of the company’s stock after selling 245 shares during the period. Strategic Investment Solutions Inc. IL’s holdings in Philip Morris International were worth $137,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the company. Brookstone Capital Management increased its stake in shares of Philip Morris International by 5.4% during the 1st quarter. Brookstone Capital Management now owns 28,607 shares of the company’s stock valued at $2,621,000 after acquiring an additional 1,466 shares during the last quarter. Wealthcare Advisory Partners LLC raised its stake in Philip Morris International by 8.8% during the first quarter. Wealthcare Advisory Partners LLC now owns 10,522 shares of the company’s stock worth $964,000 after purchasing an additional 848 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Philip Morris International by 3.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 226,472 shares of the company’s stock valued at $20,749,000 after purchasing an additional 7,667 shares during the last quarter. Financial Management Professionals Inc. grew its stake in shares of Philip Morris International by 6.7% during the 1st quarter. Financial Management Professionals Inc. now owns 6,329 shares of the company’s stock valued at $580,000 after buying an additional 397 shares during the period. Finally, Independence Bank of Kentucky increased its holdings in shares of Philip Morris International by 34.6% during the 1st quarter. Independence Bank of Kentucky now owns 16,097 shares of the company’s stock worth $1,475,000 after buying an additional 4,134 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.
Insider Activity at Philip Morris International
In other news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the transaction, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by corporate insiders.
Philip Morris International Trading Down 0.5 %
Philip Morris International (NYSE:PM – Get Free Report) last issued its quarterly earnings data 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 12.10%. The firm had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. During the same quarter last year, the firm earned $1.67 EPS. Philip Morris International’s quarterly revenue was up 8.4% on a year-over-year basis. Sell-side analysts predict that Philip Morris International Inc. will post 6.45 EPS for the current year.
Philip Morris International Increases Dividend
The business 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. The ex-dividend date was Thursday, September 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.09%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is presently 85.71%.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. boosted their target price on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday. Barclays raised their price target on shares of Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Bank of America boosted 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. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $145.00 price objective (up previously from $138.00) on shares of Philip Morris International in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $126.85.
Check Out Our Latest Stock Report on Philip Morris International
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.
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