Philip Morris International Inc. (NYSE:PM) Shares Purchased by Wedmont Private Capital

Wedmont Private Capital raised its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 76.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 26,348 shares of the company's stock after purchasing an additional 11,410 shares during the period. Wedmont Private Capital's holdings in Philip Morris International were worth $3,087,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PM. Valley Wealth Managers Inc. boosted 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 last quarter. Dunhill Financial LLC boosted its holdings in 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 during the last quarter. Concord Wealth Partners grew its stake in shares of Philip Morris International by 2,709.1% in the 3rd quarter. Concord Wealth Partners now owns 309 shares of the company's stock valued at $38,000 after buying an additional 298 shares during the period. Darwin Wealth Management LLC purchased a new stake in shares of Philip Morris International during the 3rd quarter valued at approximately $54,000. Finally, Reston Wealth Management LLC acquired a new position in Philip Morris International in the third quarter valued at approximately $58,000. Institutional investors and hedge funds own 78.63% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on PM shares. JPMorgan Chase & Co. lifted their target price on Philip Morris International from $125.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. 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 report on Tuesday, October 8th. Barclays dropped their price target on shares of Philip Morris International from $155.00 to $145.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Stifel Nicolaus restated 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. Finally, The Goldman Sachs Group lifted their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the company a "buy" rating in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $130.39.

Philip Morris International Stock Up 0.3 %

NYSE:PM traded up $0.32 during midday trading on Monday, reaching $117.47. The stock had a trading volume of 5,675,898 shares, compared to its average volume of 4,468,427. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $134.15. The stock has a market cap of $182.65 billion, a P/E ratio of 18.65, a P/E/G ratio of 2.22 and a beta of 0.54. The firm has a fifty day simple moving average of $126.08 and a two-hundred day simple moving average of $120.95.

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, topping the consensus estimate of $1.82 by $0.09. The firm had revenue of $9.91 billion during the quarter, compared to analysts' expectations of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.67 earnings per share. On average, sell-side analysts anticipate 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 declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, December 26th will be given a dividend of $1.35 per share. The ex-dividend date is Thursday, December 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.60%. Philip Morris International's payout ratio is 85.71%.

Insider Transactions at Philip Morris International

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the company's stock in a transaction that occurred 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 owns 959,761 shares of the company's stock, valued at approximately $124,624,965.85. This represents a 9.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $974,850.00. Following the transaction, the insider now directly owns 95,418 shares of the company's stock, valued at $12,402,431.64. The trade was a 7.29 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.