Philip Morris International Inc. (NYSE:PM) Shares Purchased by Synovus Financial Corp

Synovus Financial Corp boosted its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 15.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 92,177 shares of the company's stock after purchasing an additional 12,670 shares during the period. Synovus Financial Corp's holdings in Philip Morris International were worth $11,190,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Iron Horse Wealth Management LLC boosted its holdings in Philip Morris International by 684.4% during the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company's stock worth $25,000 after buying an additional 219 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Philip Morris International in the second quarter worth about $25,000. Sachetta LLC boosted its stake in shares of Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company's stock worth $27,000 after acquiring an additional 105 shares in the last quarter. Valley Wealth Managers Inc. grew its position in shares of Philip Morris International by 457.5% during the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company's stock valued at $27,000 after acquiring an additional 183 shares during the period. Finally, Dunhill Financial LLC increased its stake in shares of Philip Morris International by 203.8% in the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company's stock valued at $29,000 after purchasing an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on PM. Citigroup raised their price objective on Philip Morris International from $118.50 to $132.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Barclays boosted their price target on shares of Philip Morris International from $145.00 to $155.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Stifel Nicolaus restated a "buy" rating and set a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Bank of America lifted their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the company a "buy" rating in a research report on Wednesday, September 4th. Finally, The Goldman Sachs Group boosted their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Philip Morris International presently has a consensus rating of "Moderate Buy" and an average target price of $131.50.

Philip Morris International Price Performance

PM traded down $0.38 on Friday, reaching $126.62. 3,233,184 shares of the company's stock were exchanged, compared to its average volume of 5,347,094. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15. The stock has a market cap of $196.87 billion, a PE ratio of 20.10, a P/E/G ratio of 2.22 and a beta of 0.53. The stock's fifty day moving average price is $127.50 and its 200-day moving average price is $117.79.

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

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, December 26th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date is Thursday, December 26th. Philip Morris International's dividend payout ratio (DPR) is presently 85.71%.

Insider Transactions at Philip Morris International

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the firm's stock in a transaction on Wednesday, October 23rd. The stock was 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 owns 95,418 shares of the company's stock, valued at $12,402,431.64. This trade represents a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the chairman now owns 959,761 shares of the company's stock, valued at approximately $124,624,965.85. This 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.

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.