Oppenheimer & Co. Inc. Boosts Stock Position in Philip Morris International Inc. (NYSE:PM)

Oppenheimer & Co. Inc. lifted its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 12.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,314 shares of the company's stock after buying an additional 9,288 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Philip Morris International were worth $10,357,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PM. Russell Investments Group Ltd. grew its position in Philip Morris International by 8.4% during the 1st quarter. Russell Investments Group Ltd. now owns 260,370 shares of the company's stock valued at $23,857,000 after purchasing an additional 20,108 shares during the last quarter. Koshinski Asset Management Inc. grew its position in Philip Morris International by 41.0% during the 1st quarter. Koshinski Asset Management Inc. now owns 7,238 shares of the company's stock valued at $663,000 after purchasing an additional 2,104 shares during the last quarter. Kingsview Wealth Management LLC grew its position in Philip Morris International by 4.9% during the 1st quarter. Kingsview Wealth Management LLC now owns 13,675 shares of the company's stock valued at $1,253,000 after purchasing an additional 642 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its position in Philip Morris International by 27.6% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 10,595 shares of the company's stock valued at $971,000 after purchasing an additional 2,291 shares during the last quarter. Finally, Anthracite Investment Company Inc. purchased a new stake in Philip Morris International during the 1st quarter valued at about $1,500,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the completion of the sale, the insider now directly owns 95,418 shares of the company's stock, valued at $12,402,431.64. This trade represents a 7.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the firm's stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the transaction, the chairman now directly owns 959,761 shares of the company's stock, valued at approximately $124,624,965.85. This trade represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

Philip Morris International Trading Up 2.4 %

NYSE PM traded up $2.96 on Thursday, reaching $128.20. 6,815,617 shares of the stock were exchanged, compared to its average volume of 5,398,920. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $134.15. The firm has a market capitalization of $199.33 billion, a PE ratio of 20.35, a PEG ratio of 2.17 and a beta of 0.54. The company's 50-day simple moving average is $124.19 and its two-hundred day simple moving average is $113.11.

Philip Morris International (NYSE:PM - Get Free Report) last released its earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.82 by $0.09. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The company had revenue of $9.91 billion for the quarter, compared to analysts' expectations of $9.68 billion. During the same quarter last year, the business earned $1.67 EPS. The firm's revenue was up 8.4% compared to the same quarter last year. Sell-side analysts forecast that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were issued 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 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date was Thursday, September 26th. Philip Morris International's dividend payout ratio (DPR) is 85.71%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Barclays upped their target price on shares of Philip Morris International from $145.00 to $155.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Citigroup upped their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. Stifel Nicolaus restated a "buy" rating and set a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a research note 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 company a "buy" rating in a research note on Thursday, September 26th. Finally, UBS Group upped their target price on shares of Philip Morris International from $103.00 to $105.00 and gave the company a "sell" rating in a research note on Wednesday, October 23rd. 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $127.85.

Philip Morris International 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.