Philip Morris International Inc. (NYSE:PM) Shares Bought by Quest Partners LLC

Quest Partners LLC grew its position in shares of Philip Morris International Inc. (NYSE:PM) by 233.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,993 shares of the company’s stock after acquiring an additional 15,404 shares during the quarter. Quest Partners LLC’s holdings in Philip Morris International were worth $2,670,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Iron Horse Wealth Management LLC raised its stake in shares of Philip Morris International by 684.4% during 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 in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Philip Morris International during the second quarter valued at about $25,000. Sachetta LLC raised its stake in shares of Philip Morris International by 64.8% during the second quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after purchasing an additional 105 shares in the last quarter. Valley Wealth Managers Inc. raised its stake in shares of Philip Morris International by 457.5% during the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock valued at $27,000 after purchasing an additional 183 shares in the last quarter. Finally, Fortitude Family Office LLC raised its stake in shares of Philip Morris International by 57.4% during 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 in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Insider Activity at Philip Morris International

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the sale, the chairman now 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the sale, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. This represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on PM. The Goldman Sachs Group boosted their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 price target (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Bank of America boosted their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $131.50.

Philip Morris International Trading Up 0.3 %

Shares of NYSE PM opened at $128.59 on Monday. The business has a fifty day simple moving average of $124.30 and a 200 day simple moving average of $113.69. The firm has a market capitalization of $199.94 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 2.25 and a beta of 0.54. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $134.15.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.82 by $0.09. The company had revenue of $9.91 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.67 earnings per share. On average, research analysts anticipate that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal 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 issued a $1.35 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 annualized dividend and a yield of 4.20%. Philip Morris International’s dividend payout ratio (DPR) is currently 85.71%.

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.