First Horizon Advisors Inc. Buys 3,874 Shares of Philip Morris International Inc. (NYSE:PM)

First Horizon Advisors Inc. grew its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 1.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 214,734 shares of the company's stock after purchasing an additional 3,874 shares during the period. First Horizon Advisors Inc.'s holdings in Philip Morris International were worth $26,069,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Covestor Ltd lifted its holdings in shares of Philip Morris International by 119.4% during the 1st quarter. Covestor Ltd now owns 1,051 shares of the company's stock valued at $96,000 after buying an additional 572 shares during the last quarter. Seven Eight Capital LP grew its position in Philip Morris International by 120.7% in the first quarter. Seven Eight Capital LP now owns 8,719 shares of the company's stock worth $799,000 after acquiring an additional 4,768 shares in the last quarter. Lake Street Advisors Group LLC increased its stake in shares of Philip Morris International by 45.2% during the 1st quarter. Lake Street Advisors Group LLC now owns 7,230 shares of the company's stock worth $672,000 after purchasing an additional 2,249 shares during the last quarter. Crewe Advisors LLC bought a new position in shares of Philip Morris International during the 1st quarter valued at $222,000. Finally, CreativeOne Wealth LLC lifted its stake in shares of Philip Morris International by 138.3% in the 1st quarter. CreativeOne Wealth LLC now owns 27,182 shares of the company's stock valued at $2,490,000 after purchasing an additional 15,776 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, 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 transaction, the chairman now directly owns 959,761 shares of the company's stock, valued at $124,624,965.85. The trade was a 9.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Werner Barth sold 7,500 shares of the firm's stock in a transaction 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 sale, the insider now directly owns 95,418 shares of the company's stock, valued at $12,402,431.64. This represents a 7.29 % 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 insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PM shares. Stifel Nicolaus restated a "buy" rating and set a $145.00 target price (up from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Citigroup boosted 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. UBS Group increased their price target on Philip Morris International from $103.00 to $105.00 and gave the company a "sell" rating in a report on Wednesday, October 23rd. The Goldman Sachs Group lifted their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Finally, JPMorgan Chase & Co. upped 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Philip Morris International presently has an average rating of "Moderate Buy" and an average target price of $131.50.

Philip Morris International Trading Up 0.7 %

PM stock traded up $0.85 during trading on Wednesday, reaching $130.39. 4,172,696 shares of the stock were exchanged, compared to its average volume of 5,407,974. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15. The company has a market capitalization of $202.73 billion, a P/E ratio of 20.56, a price-to-earnings-growth ratio of 2.25 and a beta of 0.54. The stock has a 50 day simple moving average of $124.44 and a 200-day simple moving average of $114.16.

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 analysts' consensus estimates of $1.82 by $0.09. The business 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%. Philip Morris International's quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.67 earnings per share. Equities analysts predict that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were given a dividend of $1.35 per share. This is a positive change from Philip Morris International's previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International's payout ratio is 85.71%.

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.