Philip Morris International Inc. (NYSE:PM) Shares Acquired by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. boosted its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 12.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,314 shares of the company's stock after buying an additional 9,288 shares during the period. Oppenheimer & Co. Inc.'s holdings in Philip Morris International were worth $10,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Iron Horse Wealth Management LLC increased its holdings in shares of Philip Morris International by 684.4% in the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company's stock valued at $25,000 after purchasing an additional 219 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of Philip Morris International in the second quarter valued at about $25,000. Sachetta LLC increased its holdings in shares of Philip Morris International by 64.8% in the second quarter. Sachetta LLC now owns 267 shares of the company's stock valued at $27,000 after purchasing an additional 105 shares during the period. Fortitude Family Office LLC increased its holdings in shares of Philip Morris International by 57.4% in 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 acquired a new position in shares of Philip Morris International in the second quarter valued at about $34,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. UBS Group increased their price objective on Philip Morris International from $103.00 to $105.00 and gave the company a "sell" rating in a report on Wednesday, October 23rd. Stifel Nicolaus reissued a "buy" rating and issued a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Bank of America upped their target price on Philip Morris International from $125.00 to $139.00 and gave the stock a "buy" rating in a research note on Wednesday, September 4th. Barclays upped their target price on Philip Morris International from $145.00 to $155.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Philip Morris International from $118.00 to $135.00 and gave the stock a "buy" rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $127.85.

Philip Morris International Trading Down 0.3 %

PM stock traded down $0.33 during midday trading on Thursday, hitting $124.91. 802,757 shares of the company's stock were exchanged, compared to its average volume of 5,370,444. The business has a 50-day simple moving average of $124.19 and a two-hundred day simple moving average of $113.11. The stock has a market capitalization of $194.21 billion, a PE ratio of 19.88, a P/E/G ratio of 2.17 and a beta of 0.54. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $134.15.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $9.91 billion during the quarter, compared to analysts' expectations of $9.68 billion. During the same period in the previous year, the firm posted $1.67 earnings per share. The company's revenue was up 8.4% on a year-over-year basis. As a group, research analysts expect that Philip Morris International Inc. will post 6.51 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were paid a $1.35 dividend. The ex-dividend date was Thursday, September 26th. This is a boost from Philip Morris International's previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.32%. Philip Morris International's payout ratio is presently 85.71%.

Insider Activity

In related news, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction 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 transaction, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction 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 transaction, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total value of $13,234,052.30. Following the completion of the transaction, the chairman now owns 959,761 shares of the company's stock, valued at approximately $124,624,965.85. This trade represents a 0.00 % 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 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.