Primoris Wealth Advisors LLC Buys 9,450 Shares of Philip Morris International Inc. (NYSE:PM)

Primoris Wealth Advisors LLC grew its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 69.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,963 shares of the company’s stock after purchasing an additional 9,450 shares during the quarter. Philip Morris International comprises approximately 2.0% of Primoris Wealth Advisors LLC’s portfolio, making the stock its 16th biggest holding. Primoris Wealth Advisors LLC’s holdings in Philip Morris International were worth $2,818,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Iron Horse Wealth Management LLC increased its stake in Philip Morris International by 684.4% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after purchasing an additional 219 shares during the period. Strategic Financial Concepts LLC purchased a new position in shares of Philip Morris International in the 2nd quarter worth about $25,000. Sachetta LLC lifted its stake in shares of Philip Morris International by 64.8% in the second quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after buying an additional 105 shares in the last quarter. Fortitude Family Office LLC increased its holdings in Philip Morris International by 57.4% in the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after buying an additional 116 shares in the last quarter. Finally, Olistico Wealth LLC bought a new position in Philip Morris International during the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Insiders Place Their Bets

In related news, 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 transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the transaction, the chairman now directly owns 959,761 shares in the company, valued at approximately $124,624,965.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Werner Barth sold 7,500 shares of the stock in a transaction on 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 directly owns 95,418 shares in the company, valued at $12,402,431.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Philip Morris International Price Performance

Shares of NYSE:PM traded up $2.46 during trading on Friday, reaching $126.24. 6,365,289 shares of the company were exchanged, compared to its average volume of 5,293,789. The business’s fifty day simple moving average is $124.21 and its 200-day simple moving average is $112.41. The firm has a market capitalization of $196.28 billion, a PE ratio of 20.04, a P/E/G ratio of 2.19 and a beta of 0.54. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $134.15.

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

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.28%. The ex-dividend date was Thursday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio is currently 85.71%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. The Goldman Sachs Group raised their target price on Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft upped their target price 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. Stifel Nicolaus reiterated a “buy” rating and set a $145.00 price target (up previously from $138.00) on shares of Philip Morris International 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, JPMorgan Chase & Co. lifted their target price on Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $127.85.

About Philip Morris International

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.