Pekin Hardy Strauss Inc. Purchases 368 Shares of Philip Morris International Inc. (NYSE:PM)

Pekin Hardy Strauss Inc. lifted its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 1.3% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 29,281 shares of the company’s stock after acquiring an additional 368 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Philip Morris International were worth $3,555,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Mount Yale Investment Advisors LLC raised its stake in shares of Philip Morris International by 35.9% in the first quarter. Mount Yale Investment Advisors LLC now owns 22,189 shares of the company’s stock worth $2,033,000 after purchasing an additional 5,856 shares during the last quarter. Silvercrest Asset Management Group LLC raised its position in Philip Morris International by 4.1% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 58,070 shares of the company’s stock worth $5,320,000 after buying an additional 2,303 shares during the last quarter. Kinloch Capital LLC lifted its stake in Philip Morris International by 22.7% during the 1st quarter. Kinloch Capital LLC now owns 25,160 shares of the company’s stock valued at $2,305,000 after acquiring an additional 4,657 shares during the period. Waverly Advisors LLC lifted its stake in Philip Morris International by 170.9% during the 1st quarter. Waverly Advisors LLC now owns 22,001 shares of the company’s stock valued at $2,016,000 after acquiring an additional 13,879 shares during the period. Finally, Bayesian Capital Management LP purchased a new stake in shares of Philip Morris International in the 1st quarter valued at $6,240,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Performance

NYSE:PM opened at $129.99 on Friday. The stock has a market capitalization of $202.11 billion, a PE ratio of 20.63, a P/E/G ratio of 2.30 and a beta of 0.54. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $134.15. The company has a fifty day moving average of $124.77 and a two-hundred day moving average of $114.74.

Philip Morris International (NYSE:PM) last released its earnings results 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 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 quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.67 earnings per share. Research analysts forecast that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.15%. The ex-dividend date was Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is 85.71%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PM. The Goldman Sachs Group raised their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Bank of America boosted their price objective on 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 raised 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. Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 target price (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Philip Morris International has a consensus rating of “Moderate Buy” and a consensus target price of $131.50.

Insider Transactions at Philip Morris International

In other news, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value 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 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 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 approximately $124,624,965.85. This represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% 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.