Covenant Partners LLC Increases Holdings in Philip Morris International Inc. (NYSE:PM)

Covenant Partners LLC grew its holdings in Philip Morris International Inc. (NYSE:PM) by 5.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,043 shares of the company’s stock after buying an additional 253 shares during the quarter. Covenant Partners LLC’s holdings in Philip Morris International were worth $612,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PM. Iron Horse Wealth Management LLC raised its position in shares of 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 acquiring an additional 219 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in Philip Morris International in the second quarter worth $25,000. Sachetta LLC lifted its position in 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 buying an additional 105 shares during the period. Fortitude Family Office LLC boosted its holdings in shares of Philip Morris International by 57.4% during the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after buying an additional 116 shares in the last quarter. Finally, Olistico Wealth LLC bought a new position in shares of Philip Morris International in the 2nd quarter worth about $34,000. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Price Performance

Philip Morris International stock traded down $2.94 during mid-day trading on Friday, reaching $129.86. 3,888,565 shares of the stock traded hands, compared to its average volume of 5,367,846. The stock has a market capitalization of $201.87 billion, a PE ratio of 25.36, a price-to-earnings-growth ratio of 2.57 and a beta of 0.55. The business’s 50-day moving average is $122.50 and its 200-day moving average is $109.71. Philip Morris International Inc. has a 12-month low of $87.23 and a 12-month high of $133.27.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.09. The firm had revenue of $9.91 billion for the quarter, compared to analysts’ expectations of $9.68 billion. Philip Morris International had a net margin of 12.10% and a negative return on equity of 117.94%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.67 EPS. Equities analysts anticipate that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.16%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International’s dividend payout ratio is 105.47%.

Insider Buying and Selling

In other news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the 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 sale, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Werner Barth sold 7,500 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the transaction, the insider now owns 95,418 shares in the company, valued at $12,402,431.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 118,418 shares of company stock valued at $15,247,052. 0.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PM shares. 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 report on Tuesday, October 1st. Citigroup upped their price target on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Stifel Nicolaus reiterated a “buy” rating and set a $145.00 price objective (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday. 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. Finally, UBS Group upped their target price on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and an average target price of $126.85.

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.