Philip Morris International Inc. (NYSE:PM) Shares Bought by SteelPeak Wealth LLC

SteelPeak Wealth LLC grew its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 556.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 72,038 shares of the company’s stock after purchasing an additional 61,057 shares during the period. SteelPeak Wealth LLC’s holdings in Philip Morris International were worth $8,843,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Philip Morris International by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 136,556,344 shares of the company’s stock valued at $12,511,292,000 after purchasing an additional 481,636 shares in the last quarter. Capital World Investors raised its holdings in Philip Morris International by 1.5% during the first quarter. Capital World Investors now owns 111,247,656 shares of the company’s stock valued at $10,192,510,000 after buying an additional 1,684,992 shares in the last quarter. Capital Research Global Investors grew its holdings in 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 valued at $5,517,085,000 after purchasing an additional 1,800,864 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Philip Morris International by 16.3% in the 2nd 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 purchasing an additional 1,856,551 shares during the period. Finally, First Eagle Investment Management LLC increased its stake in 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 valued at $1,079,767,000 after acquiring an additional 736,961 shares during the period. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Price Performance

Shares of Philip Morris International stock traded up $0.24 during trading on Wednesday, reaching $131.81. 1,096,201 shares of the company traded hands, compared to its average volume of 5,348,891. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $133.27. The firm has a market capitalization of $204.94 billion, a PE ratio of 20.88, a P/E/G ratio of 2.57 and a beta of 0.55. The company has a 50 day moving average price of $122.99 and a 200-day moving average price of $110.58.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. Philip Morris International had a negative return on equity of 117.94% and a net margin of 12.10%. The firm had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. During the same period in the previous year, the company posted $1.67 EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities research analysts expect 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 disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend was Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio is 85.71%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PM shares. Stifel Nicolaus restated a “buy” rating and issued a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Barclays boosted their price target on shares of Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Bank of America upped their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Citigroup lifted their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, UBS Group lifted their price objective 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, October 23rd. 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.85.

Insider Activity

In other news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction dated 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 completion of the transaction, the insider now owns 85,629 shares in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the 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 transaction, the chairman now owns 959,761 shares of the company’s stock, valued at approximately $124,624,965.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Massimo Andolina sold 9,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $9,877,305.15. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 118,418 shares of company stock valued at $15,247,052 in the last ninety days. 0.14% of the stock is currently owned by insiders.

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.