Atlanta Consulting Group Advisors LLC Buys Shares of 9,353 Philip Morris International Inc. (NYSE:PM)

Atlanta Consulting Group Advisors LLC acquired a new stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 9,353 shares of the company's stock, valued at approximately $1,135,000.

Several other hedge funds have also recently bought and sold shares of PM. GoalVest Advisory LLC raised its holdings in shares of Philip Morris International by 2.3% during the third quarter. GoalVest Advisory LLC now owns 9,807 shares of the company's stock valued at $1,191,000 after acquiring an additional 225 shares during the period. BCGM Wealth Management LLC raised its holdings in Philip Morris International by 8.8% during the third quarter. BCGM Wealth Management LLC now owns 24,228 shares of the company's stock valued at $2,941,000 after buying an additional 1,960 shares in the last quarter. Veery Capital LLC bought a new position in shares of Philip Morris International in the 3rd quarter valued at approximately $239,000. Kinsale Capital Group Inc. boosted its holdings in shares of Philip Morris International by 14.6% during the 3rd quarter. Kinsale Capital Group Inc. now owns 60,608 shares of the company's stock worth $7,358,000 after buying an additional 7,741 shares during the period. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in Philip Morris International during the third quarter valued at about $250,000. 78.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PM shares. Citigroup increased their price objective on Philip Morris International from $118.50 to $132.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. Stifel Nicolaus reaffirmed a "buy" rating and set a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. The Goldman Sachs Group upped their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. JPMorgan Chase & Co. raised their price target on Philip Morris International from $125.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Finally, Barclays boosted their target price on Philip Morris International from $145.00 to $155.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. One equities 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. According to data from MarketBeat, Philip Morris International has an average rating of "Moderate Buy" and a consensus target price of $131.50.

Philip Morris International Stock Performance

PM traded up $0.39 during trading on Friday, reaching $128.59. 9,066,012 shares of the stock were exchanged, compared to its average volume of 6,116,835. The stock's 50 day moving average price is $124.30 and its two-hundred day moving average price is $113.57. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15. The stock has a market cap of $199.94 billion, a P/E ratio of 20.41, a price-to-earnings-growth ratio of 2.25 and a beta of 0.54.

Philip Morris International (NYSE:PM - Get Free Report) last released 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 negative return on equity of 117.94% and a net margin of 10.35%. The firm had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.68 billion. During the same quarter in the prior year, the company earned $1.67 earnings per share. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. Equities research analysts predict that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal 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 is an increase from Philip Morris International's previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.20%. Philip Morris International's dividend payout ratio is presently 85.71%.

Insider Transactions at Philip Morris International

In other news, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction that occurred 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 directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. The trade was a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the firm'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 owns 959,761 shares in the company, valued at approximately $124,624,965.85. This trade represents a 9.60 % 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.