Executive Wealth Management LLC Buys New Stake in Philip Morris International Inc. (NYSE:PM)

Executive Wealth Management LLC acquired a new stake in Philip Morris International Inc. (NYSE:PM - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,187 shares of the company's stock, valued at approximately $508,000.

A number of other institutional investors have also modified their holdings of the company. Iron Horse Wealth Management LLC grew its stake in Philip Morris International by 684.4% during the 2nd 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. Strategic Financial Concepts LLC purchased a new stake in Philip Morris International during the 2nd quarter worth about $25,000. Sachetta LLC lifted its holdings in Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company's stock worth $27,000 after buying an additional 105 shares during the last quarter. Valley Wealth Managers Inc. lifted its holdings in Philip Morris International by 457.5% during the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company's stock worth $27,000 after buying an additional 183 shares during the last quarter. Finally, Dunhill Financial LLC lifted its holdings in Philip Morris International by 203.8% during the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company's stock worth $29,000 after buying an additional 161 shares during the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on PM. Barclays lifted their price target on Philip Morris International from $145.00 to $155.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. UBS Group lifted their price target on Philip Morris International from $103.00 to $105.00 and gave the stock a "sell" rating in a report on Wednesday, October 23rd. Bank of America lifted their price target on Philip Morris International from $125.00 to $139.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. Stifel Nicolaus reissued a "buy" rating and issued a $145.00 target price (up from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. boosted 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. One equities research 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, Philip Morris International currently has an average rating of "Moderate Buy" and an average target price of $131.50.

Philip Morris International Stock Down 1.7 %

PM stock traded down $2.16 during trading on Wednesday, hitting $126.82. The company had a trading volume of 10,118,375 shares, compared to its average volume of 5,356,776. The firm has a market cap of $197.18 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 2.29 and a beta of 0.53. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $134.15. The firm has a 50-day moving average price of $127.03 and a 200-day moving average price of $117.47.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $9.91 billion for the quarter, compared to analysts' expectations of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.67 EPS. Sell-side analysts anticipate that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were given a dividend of $1.35 per share. This is a boost from Philip Morris International's previous quarterly dividend of $1.30. The ex-dividend date was Thursday, September 26th. This represents a $5.40 annualized dividend and a yield of 4.26%. Philip Morris International's payout ratio is presently 85.71%.

Insiders Place Their Bets

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the company'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 sale, the chairman now owns 959,761 shares in the company, valued at $124,624,965.85. This represents a 9.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Werner Barth sold 7,500 shares of the company's 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 sale, the insider now owns 95,418 shares in the company, valued at approximately $12,402,431.64. This represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

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.