Philip Morris International Inc. (NYSE:PM) Shares Bought by Equitable Trust Co.

Equitable Trust Co. increased its holdings in Philip Morris International Inc. (NYSE:PM) by 12.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,174 shares of the company’s stock after acquiring an additional 1,575 shares during the quarter. Equitable Trust Co.’s holdings in Philip Morris International were worth $1,721,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the business. Iron Horse Wealth Management LLC increased its position in shares of 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 last quarter. Strategic Financial Concepts LLC acquired a new stake in Philip Morris International during the second quarter valued at approximately $25,000. Sachetta LLC lifted its holdings in Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after buying an additional 105 shares during the last quarter. Fortitude Family Office LLC lifted its holdings in Philip Morris International by 57.4% during 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 during the last quarter. Finally, Olistico Wealth LLC bought a new stake in shares of Philip Morris International in the 2nd quarter valued at approximately $34,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PM shares. Stifel Nicolaus reissued a “buy” rating and set a $145.00 price target (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. 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 report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. The Goldman Sachs Group lifted their target price on Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Barclays upped their target price on Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Philip Morris International presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.85.

Philip Morris International Trading Up 2.0 %

Shares of NYSE PM opened at $126.24 on Friday. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $134.15. The company has a market cap of $196.28 billion, a PE ratio of 20.04, a P/E/G ratio of 2.19 and a beta of 0.54. The stock has a 50 day simple moving average of $124.21 and a 200-day simple moving average of $112.41.

Philip Morris International (NYSE:PM) last announced 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. The company had revenue of $9.91 billion during 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 firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.67 EPS. Sell-side analysts forecast that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal 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 dividend of $1.35 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date was Thursday, September 26th. This represents a $5.40 annualized dividend and a yield of 4.28%. Philip Morris International’s dividend payout ratio (DPR) is presently 85.71%.

Insiders Place Their Bets

In related news, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Philip Morris International news, 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 completion of the transaction, the insider now directly owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction on 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 transaction, the chairman now 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 disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

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.