Synovus Financial Corp Buys 12,670 Shares of Philip Morris International Inc. (NYSE:PM)

Synovus Financial Corp increased its position in Philip Morris International Inc. (NYSE:PM) by 15.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 reporting period.

Other hedge funds also recently bought and sold shares of the company. Valley Wealth Managers Inc. raised its stake in shares of Philip Morris International by 457.5% in the third 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 last quarter. Dunhill Financial LLC raised its position in Philip Morris International by 203.8% in the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock worth $29,000 after buying an additional 161 shares during the last quarter. Iron Horse Wealth Management LLC raised its position in Philip Morris International by 684.4% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after buying an additional 219 shares during the last quarter. Sachetta LLC lifted its stake in 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 during the period. Finally, Concord Wealth Partners boosted its holdings in shares of Philip Morris International by 2,709.1% during the 3rd quarter. Concord Wealth Partners now owns 309 shares of the company’s stock valued at $38,000 after acquiring an additional 298 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Insider Buying and Selling

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the business’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 in the company, valued at approximately $124,624,965.85. The trade was a 9.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the transaction, the insider now directly owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. This trade 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 currently owned by company insiders.

Analysts Set New Price Targets

PM has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Barclays boosted their price target on Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 price objective (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. The Goldman Sachs Group raised their price objective on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. One research 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $131.50.

Philip Morris International Trading Down 0.3 %

Shares of Philip Morris International stock opened at $126.62 on Friday. The firm has a market cap of $196.87 billion, a PE ratio of 20.10, a PEG ratio of 2.22 and a beta of 0.53. The stock has a 50 day moving average of $127.50 and a 200 day moving average of $117.79. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $134.15.

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

Philip Morris International Announces Dividend

The firm 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 $1.35 dividend. The ex-dividend date of this dividend is Thursday, December 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.26%. Philip Morris International’s payout ratio is presently 85.71%.

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.