Kingsview Wealth Management LLC Grows Position in Philip Morris International Inc. (NYSE:PM)

Kingsview Wealth Management LLC lifted its position in shares of Philip Morris International Inc. (NYSE:PM) by 17.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 18,808 shares of the company’s stock after purchasing an additional 2,747 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Philip Morris International were worth $2,283,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Iron Horse Wealth Management LLC lifted its position 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 valued at $25,000 after buying an additional 219 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of Philip Morris International in the 2nd quarter valued at $25,000. Sachetta LLC lifted its holdings in shares of Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after acquiring an additional 105 shares in the last quarter. Valley Wealth Managers Inc. boosted its position in Philip Morris International by 457.5% during the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock worth $27,000 after purchasing an additional 183 shares during the period. Finally, Fortitude Family Office LLC increased its holdings in Philip Morris International by 57.4% in the 2nd 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.

Insiders Place Their Bets

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total transaction 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. The trade was a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction dated Wednesday, October 23rd. The shares were 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 in the company, valued at approximately $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. 0.14% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PM has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft boosted their price objective 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. Bank of America increased their price objective 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. JPMorgan Chase & Co. boosted their target price 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. The Goldman Sachs Group lifted 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 note on Thursday, September 26th. Finally, Citigroup upped their price objective 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $131.50.

Philip Morris International Stock Up 0.5 %

Shares of Philip Morris International stock opened at $130.70 on Tuesday. The business has a 50-day moving average price of $124.86 and a 200 day moving average price of $115.07. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $134.15. The firm has a market cap of $203.22 billion, a P/E ratio of 20.75, a P/E/G ratio of 2.28 and a beta of 0.54.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data 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. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The firm had revenue of $9.91 billion for the quarter, compared to analysts’ expectations of $9.68 billion. During the same period last year, the business posted $1.67 earnings per share. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities research analysts anticipate that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were paid a dividend of $1.35 per share. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date was Thursday, September 26th. This represents a $5.40 annualized dividend and a yield of 4.13%. Philip Morris International’s dividend payout ratio is 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.