Franklin Resources Inc. Buys 376,406 Shares of Philip Morris International Inc. (NYSE:PM)

Franklin Resources Inc. boosted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,000,570 shares of the company’s stock after purchasing an additional 376,406 shares during the period. Franklin Resources Inc.’s holdings in Philip Morris International were worth $1,560,752,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Valley Wealth Managers Inc. raised its holdings in Philip Morris International by 457.5% during the third 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 period. Dunhill Financial LLC boosted its stake 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 worth $29,000 after acquiring an additional 161 shares during the period. Iron Horse Wealth Management LLC grew its position in shares of 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 purchasing an additional 219 shares in the last quarter. Sachetta LLC raised its stake in Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after purchasing an additional 105 shares during the period. Finally, Concord Wealth Partners lifted its holdings in Philip Morris International by 2,709.1% in the 3rd quarter. Concord Wealth Partners now owns 309 shares of the company’s stock worth $38,000 after purchasing an additional 298 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

Philip Morris International stock opened at $126.99 on Friday. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $134.15. The company’s 50-day moving average is $127.35 and its 200 day moving average is $117.60. The firm has a market capitalization of $197.45 billion, a P/E ratio of 20.16, a price-to-earnings-growth ratio of 2.22 and a beta of 0.53.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) 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 10.35%. The company had revenue of $9.91 billion during the quarter, compared to analysts’ expectations of $9.68 billion. During the same quarter in the previous year, the business earned $1.67 EPS. Philip Morris International’s revenue was up 8.4% compared to the same quarter last year. Research analysts anticipate that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, December 26th will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 4.25%. Philip Morris International’s dividend payout ratio is presently 85.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PM shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. UBS Group lifted their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a report on Wednesday, October 23rd. Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Bank of America raised their price objective on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Finally, Citigroup lifted their target price on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.50.

Insider Buying and Selling at Philip Morris International

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s stock in a transaction that occurred 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Werner Barth sold 7,500 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the transaction, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. This trade represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

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.