WealthPLAN Partners LLC Acquires Shares of 1,728 Philip Morris International Inc. (NYSE:PM)

WealthPLAN Partners LLC purchased a new position in shares of Philip Morris International Inc. (NYSE:PM) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 1,728 shares of the company’s stock, valued at approximately $210,000.

Several other institutional investors have also recently added to or reduced their stakes in PM. Russell Investments Group Ltd. boosted its holdings in shares of Philip Morris International by 8.4% in the first quarter. Russell Investments Group Ltd. now owns 260,370 shares of the company’s stock valued at $23,857,000 after acquiring an additional 20,108 shares in the last quarter. Koshinski Asset Management Inc. increased its position in Philip Morris International by 41.0% during the 1st quarter. Koshinski Asset Management Inc. now owns 7,238 shares of the company’s stock worth $663,000 after purchasing an additional 2,104 shares during the period. Managed Asset Portfolios LLC raised its stake in shares of Philip Morris International by 83.0% during the 1st quarter. Managed Asset Portfolios LLC now owns 17,727 shares of the company’s stock worth $1,624,000 after buying an additional 8,039 shares in the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of Philip Morris International by 10.0% in the 1st quarter. First Eagle Investment Management LLC now owns 9,918,987 shares of the company’s stock valued at $908,778,000 after buying an additional 902,557 shares during the period. Finally, Kingsview Wealth Management LLC boosted its stake in shares of Philip Morris International by 4.9% in the first quarter. Kingsview Wealth Management LLC now owns 13,675 shares of the company’s stock valued at $1,253,000 after buying an additional 642 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Price Performance

Shares of NYSE PM opened at $124.19 on Wednesday. The company has a market cap of $193.09 billion, a PE ratio of 19.71, a price-to-earnings-growth ratio of 2.19 and a beta of 0.54. The company has a 50-day simple moving average of $124.24 and a 200-day simple moving average of $112.81. 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 issued its quarterly 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 company 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 for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.67 EPS. On average, analysts anticipate that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The business 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 is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.35%. The ex-dividend date was Thursday, September 26th. Philip Morris International’s dividend payout ratio is presently 85.71%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PM shares. UBS Group increased their price objective on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research report on Wednesday, October 23rd. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. The Goldman Sachs Group lifted their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Bank of America raised their price objective on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, Barclays boosted their target price on Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a research 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 given a buy rating to the company’s stock. According to MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and a consensus target price of $127.85.

Insider Buying and Selling

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the 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 of the company’s stock, 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 document filed with the SEC, which is accessible through this hyperlink. In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the sale, the chairman now owns 959,761 shares of the company’s stock, valued at approximately $124,624,965.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Werner Barth sold 7,500 shares of Philip Morris International 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 directly owns 95,418 shares in the company, valued at approximately $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 0.14% of the company’s stock.

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.