Sigma Investment Counselors Inc. Acquires 189 Shares of Philip Morris International Inc. (NYSE:PM)

Sigma Investment Counselors Inc. raised its holdings in Philip Morris International Inc. (NYSE:PM) by 5.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,512 shares of the company’s stock after acquiring an additional 189 shares during the period. Sigma Investment Counselors Inc.’s holdings in Philip Morris International were worth $426,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Diversify Advisory Services LLC bought a new stake in shares of Philip Morris International during the first quarter worth about $5,634,000. Axxcess Wealth Management LLC grew its holdings 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 purchasing an additional 6,974 shares during the last quarter. Duality Advisers LP grew its holdings in shares of Philip Morris International by 165.6% during the first quarter. Duality Advisers LP now owns 38,644 shares of the company’s stock worth $3,541,000 after purchasing an additional 24,093 shares during the last quarter. New Mexico Educational Retirement Board boosted its holdings in Philip Morris International by 11.5% in the first quarter. New Mexico Educational Retirement Board now owns 90,111 shares of the company’s stock valued at $8,465,000 after acquiring an additional 9,300 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted 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 acquiring an additional 4,793 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

Insider Transactions at Philip Morris International

In other news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction that occurred on 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction on 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total value of $13,234,052.30. Following the sale, the chairman now owns 959,761 shares of the company’s stock, valued at $124,624,965.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 118,418 shares of company stock valued at $15,247,052 over the last ninety days. 0.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. Bank of America upped their target price on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 target price (up from $138.00) on shares of Philip Morris International in a report on Wednesday. JPMorgan Chase & Co. upped their target price on Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday. UBS Group upped their target price on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a report on Wednesday. Finally, Barclays upped their target price on Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, September 9th. One 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $126.85.

Philip Morris International Stock Performance

Shares of PM opened at $129.86 on Friday. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $133.27. The business’s 50 day moving average price is $122.50 and its two-hundred day moving average price is $109.71. The firm has a market cap 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.

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, beating 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 12.10%. The firm 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 firm earned $1.67 earnings per share. The company’s revenue was up 8.4% compared to the same quarter last year. Research analysts predict that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis 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 was Thursday, September 26th. Philip Morris International’s dividend payout ratio is presently 105.47%.

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.