Avidian Wealth Enterprises LLC Purchases 2,287 Shares of Philip Morris International Inc. (NYSE:PM)

Avidian Wealth Enterprises LLC boosted its holdings in Philip Morris International Inc. (NYSE:PM) by 59.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 6,137 shares of the company’s stock after buying an additional 2,287 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Philip Morris International were worth $745,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. GQG Partners LLC raised its stake in Philip Morris International by 5,006.0% during the 1st quarter. GQG Partners LLC now owns 5,958,391 shares of the company’s stock valued at $545,908,000 after purchasing an additional 5,841,696 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Philip Morris International by 79.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,878,158 shares of the company’s stock valued at $595,634,000 after buying an additional 2,599,684 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Philip Morris International by 16.3% in the second quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock worth $1,341,050,000 after buying an additional 1,856,551 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Philip Morris International by 3.1% during the first quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock worth $5,517,085,000 after acquiring an additional 1,800,864 shares during the last quarter. Finally, Capital World Investors grew its stake in Philip Morris International by 1.5% during the first quarter. Capital World Investors now owns 111,247,656 shares of the company’s stock valued at $10,192,510,000 after acquiring an additional 1,684,992 shares in the last quarter. 78.63% of the stock is owned by institutional investors.

Philip Morris International Trading Down 5.2 %

PM stock opened at $125.31 on Thursday. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $134.15. The stock has a market cap of $194.84 billion, a PE ratio of 19.89, a P/E/G ratio of 2.28 and a beta of 0.54. The company has a 50-day moving average price of $124.13 and a 200 day moving average price of $112.11.

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

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were paid a $1.35 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International’s dividend payout ratio is currently 85.71%.

Analyst Ratings Changes

PM has been the topic of several research analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. UBS Group increased their price target on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group raised their price target on Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft increased their target price on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Finally, StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $127.85.

Insider Transactions at Philip Morris International

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s stock in a transaction that occurred 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the company’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 completion of the sale, the chairman now directly owns 959,761 shares of the company’s stock, valued at $124,624,965.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Werner Barth sold 7,500 shares of the firm’s 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 transaction, the insider now directly owns 95,418 shares in the company, valued at $12,402,431.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.14% 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.