DORCHESTER WEALTH MANAGEMENT Co Decreases Position in Philip Morris International Inc. (NYSE:PM)

DORCHESTER WEALTH MANAGEMENT Co cut its stake in Philip Morris International Inc. (NYSE:PM) by 0.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,166 shares of the company’s stock after selling 105 shares during the quarter. Philip Morris International makes up approximately 1.5% of DORCHESTER WEALTH MANAGEMENT Co’s portfolio, making the stock its 23rd largest holding. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Philip Morris International were worth $8,640,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brookstone Capital Management lifted its stake in Philip Morris International by 5.4% in the 1st quarter. Brookstone Capital Management now owns 28,607 shares of the company’s stock worth $2,621,000 after purchasing an additional 1,466 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in Philip Morris International in the 1st quarter worth approximately $125,000. Wealthcare Advisory Partners LLC lifted its stake in Philip Morris International by 8.8% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 10,522 shares of the company’s stock worth $964,000 after purchasing an additional 848 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Philip Morris International by 3.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 226,472 shares of the company’s stock worth $20,749,000 after purchasing an additional 7,667 shares in the last quarter. Finally, Thrive Wealth Management LLC lifted its stake in Philip Morris International by 19.0% in the 1st quarter. Thrive Wealth Management LLC now owns 7,960 shares of the company’s stock worth $729,000 after purchasing an additional 1,272 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Stock Up 0.5 %

PM traded up $0.69 on Thursday, reaching $132.10. The company had a trading volume of 924,264 shares, compared to its average volume of 5,351,930. The stock has a 50-day moving average price of $121.97 and a 200-day moving average price of $109.28. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $132.87. The stock has a market capitalization of $205.36 billion, a PE ratio of 25.66, a P/E/G ratio of 2.35 and a beta of 0.55.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The business had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.68 billion. During the same period in the previous year, the business posted $1.67 earnings per share. The business’s revenue was up 8.4% compared to the same quarter last year. As a group, analysts expect that Philip Morris International Inc. will post 6.45 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. The ex-dividend date of this dividend was Thursday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.09%. Philip Morris International’s dividend payout ratio is currently 105.47%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PM shares. Citigroup lifted 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 report on Tuesday, October 8th. JPMorgan Chase & Co. lifted their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Barclays lifted their price target on shares of Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Finally, Bank of America lifted their price target 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. 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 stock. According to 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 the stock in a transaction that occurred on 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 sale, the insider now directly owns 85,629 shares in the company, valued at $9,877,305.15. This 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 through the SEC website. Company insiders own 0.13% of the company’s stock.

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.