Graypoint LLC Raises Stake in Philip Morris International Inc. (NYSE:PM)

Graypoint LLC raised its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 6.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,318 shares of the company’s stock after purchasing an additional 657 shares during the quarter. Graypoint LLC’s holdings in Philip Morris International were worth $1,374,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. White Lighthouse Investment Management Inc. lifted its holdings in Philip Morris International by 71.4% during the third quarter. White Lighthouse Investment Management Inc. now owns 11,999 shares of the company’s stock valued at $1,457,000 after purchasing an additional 4,999 shares during the last quarter. Axxcess Wealth Management LLC lifted its holdings in shares of Philip Morris International by 25.4% in the first quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock worth $3,151,000 after buying an additional 6,974 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Philip Morris International by 17.9% in the second quarter. Sequoia Financial Advisors LLC now owns 31,591 shares of the company’s stock worth $3,203,000 after buying an additional 4,793 shares in the last quarter. Burke & Herbert Bank & Trust Co. lifted its holdings in shares of Philip Morris International by 68.0% in the second quarter. Burke & Herbert Bank & Trust Co. now owns 20,896 shares of the company’s stock worth $2,117,000 after buying an additional 8,455 shares in the last quarter. Finally, Gabelli Funds LLC lifted its holdings in shares of Philip Morris International by 2.5% in the second quarter. Gabelli Funds LLC now owns 289,350 shares of the company’s stock worth $29,320,000 after buying an additional 7,000 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, 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 transaction of $974,850.00. Following the completion of the transaction, the insider now directly owns 95,418 shares in the company, valued at $12,402,431.64. 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 the SEC website. In other news, 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 transaction of $974,850.00. Following the completion of the transaction, the insider now directly owns 95,418 shares in the company, valued at $12,402,431.64. 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 the SEC website. Also, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction dated 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 completion of the sale, the chairman now owns 959,761 shares of the company’s stock, valued at $124,624,965.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Barclays increased their price target on shares of Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. UBS Group increased their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group increased their price target 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. JPMorgan Chase & Co. upped their price objective 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. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.85.

Philip Morris International Stock Performance

NYSE:PM opened at $123.78 on Friday. The firm has a market cap of $192.46 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 2.28 and a beta of 0.54. The business has a 50 day moving average price of $124.13 and a 200-day moving average price of $112.11. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $134.15.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.82 by $0.09. The business had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.67 earnings per share. Research analysts predict that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were issued a dividend of $1.35 per share. The ex-dividend date was Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.36%. Philip Morris International’s dividend payout ratio (DPR) 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.