Balboa Wealth Partners Has $442,000 Holdings in Philip Morris International Inc. (NYSE:PM)

Balboa Wealth Partners raised its position in Philip Morris International Inc. (NYSE:PM) by 7.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,638 shares of the company’s stock after purchasing an additional 240 shares during the quarter. Balboa Wealth Partners’ holdings in Philip Morris International were worth $442,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. White Lighthouse Investment Management Inc. boosted its holdings in Philip Morris International by 71.4% in the third quarter. White Lighthouse Investment Management Inc. now owns 11,999 shares of the company’s stock valued at $1,457,000 after acquiring an additional 4,999 shares during the last quarter. Accredited Investors Inc. boosted its stake in shares of Philip Morris International by 3,553.3% in the 3rd quarter. Accredited Investors Inc. now owns 206,959 shares of the company’s stock valued at $25,125,000 after purchasing an additional 201,294 shares during the last quarter. Axxcess Wealth Management LLC increased its position in shares of Philip Morris International by 25.4% during 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 during the period. Kennebec Savings Bank bought a new position in Philip Morris International during the third quarter worth $692,000. Finally, Sequoia Financial Advisors LLC lifted its holdings in Philip Morris International by 17.9% in the second quarter. Sequoia Financial Advisors LLC now owns 31,591 shares of the company’s stock valued at $3,203,000 after buying an additional 4,793 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Philip Morris International

In other Philip Morris International 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 value 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 9.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $129.98, for a total transaction of $974,850.00. Following the sale, the insider now owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. This represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Philip Morris International Stock Performance

Shares of NYSE PM opened at $128.59 on Friday. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $134.15. The stock has a fifty day moving average of $124.25 and a 200-day moving average of $113.21. The stock has a market cap of $199.94 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 2.19 and a beta of 0.54.

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

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors 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. The ex-dividend date was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.20%. Philip Morris International’s payout ratio is presently 85.71%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Bank of America raised their price objective on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Citigroup boosted their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, Barclays upped their target price 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. One 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $127.85.

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.