Surience Private Wealth LLC Takes Position in Philip Morris International Inc. (NYSE:PM)

Surience Private Wealth LLC acquired a new position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 28,073 shares of the company's stock, valued at approximately $3,408,000. Philip Morris International accounts for about 3.5% of Surience Private Wealth LLC's holdings, making the stock its 11th biggest holding.

A number of other hedge funds have also bought and sold shares of PM. Iron Horse Wealth Management LLC lifted its stake in shares of 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 acquiring an additional 219 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in Philip Morris International in the second quarter worth $25,000. Sachetta LLC lifted its position in shares of Philip Morris International by 64.8% during the second quarter. Sachetta LLC now owns 267 shares of the company's stock worth $27,000 after purchasing an additional 105 shares during the last quarter. Fortitude Family Office LLC boosted its stake in shares of Philip Morris International by 57.4% during the second quarter. Fortitude Family Office LLC now owns 318 shares of the company's stock valued at $32,000 after purchasing an additional 116 shares during the period. Finally, Olistico Wealth LLC purchased a new position in Philip Morris International in the 2nd quarter worth about $34,000. Institutional investors 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 the business's stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the sale, the insider now directly owns 85,629 shares of the company's stock, valued at $9,877,305.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the transaction, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Wilde Frederic De sold 20,000 shares of the business's stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of the transaction, the insider now owns 158,447 shares in the company, valued at $17,906,095.47. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

Philip Morris International Stock Up 7.4 %

Shares of NYSE PM traded up $8.75 during mid-day trading on Tuesday, hitting $127.71. 3,259,592 shares of the company were exchanged, compared to its average volume of 5,312,409. The stock has a 50 day simple moving average of $121.41 and a 200-day simple moving average of $108.83. Philip Morris International Inc. has a 1-year low of $87.23 and a 1-year high of $128.22. The firm has a market cap of $198.53 billion, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55.

Philip Morris International (NYSE:PM - Get Free Report) last released its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.02. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The company had revenue of $9.47 billion for the quarter, compared to analysts' expectations of $9.19 billion. During the same quarter in the previous year, the firm posted $1.60 EPS. The firm's quarterly revenue was up 5.6% on a year-over-year basis. Analysts anticipate that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend was Thursday, September 26th. This is a positive change from Philip Morris International's previous quarterly dividend of $1.30. Philip Morris International's dividend payout ratio is currently 105.47%.

Analyst Upgrades and Downgrades

PM has been the subject of several recent research reports. Bank of America boosted their price target on Philip Morris International from $125.00 to $139.00 and gave the stock a "buy" rating in a research report on Wednesday, September 4th. Stifel Nicolaus raised their price target on shares of Philip Morris International from $120.00 to $138.00 and gave the company a "buy" rating in a report on Wednesday, September 4th. UBS Group decreased their target price on shares of Philip Morris International from $105.00 to $103.00 and set a "sell" rating for the company in a research report on Tuesday, October 15th. JPMorgan Chase & Co. lifted their price target on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an "overweight" rating in a report on Thursday, July 25th. Finally, The Goldman Sachs Group upped 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 note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $123.95.

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.

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