Philip Morris International Inc. (NYSE:PM) Stock Position Raised by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in Philip Morris International Inc. (NYSE:PM) by 5.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,774,350 shares of the company’s stock after purchasing an additional 85,043 shares during the period. Principal Financial Group Inc.’s holdings in Philip Morris International were worth $215,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the company. Iron Horse Wealth Management LLC grew its holdings 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 in the last quarter. Strategic Financial Concepts LLC acquired a new position in Philip Morris International during the 2nd quarter worth $25,000. Sachetta LLC grew its stake in shares of Philip Morris International by 64.8% in the second quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after purchasing an additional 105 shares in the last quarter. Fortitude Family Office LLC increased its holdings in shares of Philip Morris International by 57.4% during the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after purchasing an additional 116 shares during the period. Finally, Olistico Wealth LLC bought a new stake in shares of Philip Morris International during the second quarter valued at about $34,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Performance

PM opened at $123.78 on Friday. The firm has a market cap of $192.46 billion, a P/E 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 twelve month low of $87.82 and a twelve month high of $134.15.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data 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 business had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. Philip Morris International’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.67 EPS. As a group, analysts anticipate that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were given a $1.35 dividend. 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%. The ex-dividend date was Thursday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is currently 85.71%.

Analyst Upgrades and Downgrades

PM has been the subject of several recent analyst reports. The Goldman Sachs Group increased their price objective on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, September 26th. UBS Group lifted their price target on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research report on Wednesday, October 23rd. Bank of America upped their price objective on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. One 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 company’s stock. According to MarketBeat.com, Philip Morris International presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.85.

Insider Transactions at Philip Morris International

In related news, insider Werner Barth sold 7,500 shares of the stock in a transaction that occurred 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 sale, the insider now owns 95,418 shares in the company, valued at $12,402,431.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $124,624,965.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Werner Barth sold 7,500 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the completion of the sale, the insider now owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

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.