RIA Advisory Group LLC Takes $664,000 Position in Philip Morris International Inc. (NYSE:PM)

RIA Advisory Group LLC acquired a new stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,467 shares of the company's stock, valued at approximately $664,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Capital World Investors increased its position in Philip Morris International by 1.5% during the 1st quarter. Capital World Investors now owns 111,247,656 shares of the company's stock worth $10,192,510,000 after purchasing an additional 1,684,992 shares in the last quarter. Capital Research Global Investors increased its position in Philip Morris International by 3.1% during the 1st quarter. Capital Research Global Investors now owns 60,217,039 shares of the company's stock worth $5,517,085,000 after purchasing an additional 1,800,864 shares in the last quarter. Bank of New York Mellon Corp increased its position in Philip Morris International by 16.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company's stock worth $1,341,050,000 after purchasing an additional 1,856,551 shares in the last quarter. First Eagle Investment Management LLC increased its position in Philip Morris International by 7.4% during the 2nd quarter. First Eagle Investment Management LLC now owns 10,655,948 shares of the company's stock worth $1,079,767,000 after purchasing an additional 736,961 shares in the last quarter. Finally, Legal & General Group Plc increased its position in Philip Morris International by 4.7% during the 2nd quarter. Legal & General Group Plc now owns 10,430,837 shares of the company's stock worth $1,056,957,000 after purchasing an additional 469,806 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on PM. Bank of America upped 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. Citigroup upped their price target on Philip Morris International from $118.50 to $132.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Stifel Nicolaus restated a "buy" rating and issued a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. UBS Group upped 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. Finally, Barclays upped 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $127.85.

Philip Morris International Price Performance

Shares of PM stock traded up $0.39 on Friday, hitting $128.59. 9,066,012 shares of the stock traded hands, compared to its average volume of 5,415,458. The company has a market capitalization of $199.94 billion, a PE ratio of 20.41, a PEG ratio of 2.19 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. The company's fifty day moving average is $124.30 and its 200 day moving average is $113.44.

Philip Morris International (NYSE:PM - Get Free Report) last posted 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 business had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The business's revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.67 EPS. As a group, equities research analysts expect that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors 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 4.20%. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International's dividend payout ratio is currently 85.71%.

Insiders Place Their Bets

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction 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 directly owns 959,761 shares of the company's stock, valued at $124,624,965.85. This trade represents a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Werner Barth sold 7,500 shares of the 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 sale, the insider now directly owns 95,418 shares in the company, 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. 0.13% of the stock is owned by corporate insiders.

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.