Philip Morris International Inc. (NYSE:PM) Shares Bought by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. grew its stake in Philip Morris International Inc. (NYSE:PM) by 11.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,490 shares of the company’s stock after acquiring an additional 2,531 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Philip Morris International were worth $3,094,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PM. Iron Horse Wealth Management LLC lifted its holdings in Philip Morris International by 684.4% in the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after acquiring an additional 219 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in Philip Morris International during the second quarter worth about $25,000. Sachetta LLC lifted its position in shares of Philip Morris International by 64.8% during 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 grew its holdings in shares of Philip Morris International by 57.4% in 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 in the last quarter. Finally, Olistico Wealth LLC purchased a new stake in Philip Morris International during the 2nd quarter worth about $34,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

NYSE PM traded down $0.23 during mid-day trading on Wednesday, reaching $131.34. 884,715 shares of the stock were exchanged, compared to its average volume of 5,347,883. The business’s fifty day simple moving average is $122.99 and its 200 day simple moving average is $110.58. The stock has a market capitalization of $204.21 billion, a PE ratio of 20.88, a PEG ratio of 2.57 and a beta of 0.55. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $133.27.

Philip Morris International (NYSE:PM) last released 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. The business had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 12.10%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.67 EPS. On average, analysts anticipate that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were paid a $1.35 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.11%. Philip Morris International’s payout ratio is 85.71%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PM. Stifel Nicolaus reissued a “buy” rating and set a $145.00 price objective (up previously from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price objective on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. UBS Group raised their price target on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research note on Wednesday, October 23rd. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. One 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $126.85.

Insider Activity at Philip Morris International

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the firm’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 completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, 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 transaction of $1,038,150.00. Following the completion of the transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction on 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 directly owns 95,418 shares in the company, valued at $12,402,431.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 118,418 shares of company stock valued at $15,247,052. Insiders own 0.14% of the company’s stock.

Philip Morris International 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.