Code Waechter LLC Makes New $308,000 Investment in Philip Morris International Inc. (NYSE:PM)

Code Waechter LLC bought a new stake in Philip Morris International Inc. (NYSE:PM) during the 3rd quarter, HoldingsChannel reports. The firm bought 2,534 shares of the company’s stock, valued at approximately $308,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Philip Morris International by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 136,556,344 shares of the company’s stock worth $12,511,292,000 after buying an additional 481,636 shares during the last quarter. Capital World Investors increased its position in shares of Philip Morris International by 1.5% during the first quarter. Capital World Investors now owns 111,247,656 shares of the company’s stock worth $10,192,510,000 after purchasing an additional 1,684,992 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Philip Morris International by 3.1% during the first quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock worth $5,517,085,000 after buying an additional 1,800,864 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Philip Morris International by 16.3% in the second quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock valued at $1,341,050,000 after buying an additional 1,856,551 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its stake in shares of Philip Morris International by 7.4% in the second quarter. First Eagle Investment Management LLC now owns 10,655,948 shares of the company’s stock worth $1,079,767,000 after buying an additional 736,961 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on PM. Barclays increased their price objective on shares of Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Citigroup lifted their price objective on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday. Stifel Nicolaus upped their target price on Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. JPMorgan Chase & Co. lifted their price target on Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and a consensus target price of $122.41.

Insiders Place Their Bets

In related news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total value of $1,038,150.00. Following the sale, the insider now owns 85,629 shares of the company’s stock, valued at $9,877,305.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the transaction, the insider now owns 158,447 shares of the company’s stock, valued at $17,906,095.47. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Philip Morris International Price Performance

Shares of PM stock traded up $0.71 during trading hours on Friday, hitting $120.10. The company had a trading volume of 2,630,090 shares, compared to its average volume of 5,359,857. Philip Morris International Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $128.22. The company’s fifty day moving average is $120.84 and its 200 day moving average is $107.38. The stock has a market capitalization of $186.73 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.02. The firm had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. Philip Morris International’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.60 EPS. Equities analysts forecast that Philip Morris International Inc. will post 6.45 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently announced 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 an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International’s dividend payout ratio is presently 95.58%.

Philip Morris International 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.