BIP Wealth LLC Grows Holdings in Philip Morris International Inc. (NYSE:PM)

BIP Wealth LLC increased its position in shares of Philip Morris International Inc. (NYSE:PM) by 155.0% during the third quarter, Holdings Channel reports. The fund owned 5,878 shares of the company’s stock after acquiring an additional 3,573 shares during the quarter. BIP Wealth LLC’s holdings in Philip Morris International were worth $714,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Iron Horse Wealth Management LLC lifted its holdings in shares of Philip Morris International by 684.4% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after acquiring an additional 219 shares during the period. Strategic Financial Concepts LLC acquired a new position in Philip Morris International during the second quarter valued at approximately $25,000. Sachetta LLC grew its stake in Philip Morris International by 64.8% during the second quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after buying an additional 105 shares during the period. Valley Wealth Managers Inc. raised its stake in shares of Philip Morris International by 457.5% in the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock valued at $27,000 after acquiring an additional 183 shares during the period. Finally, Fortitude Family Office LLC lifted its holdings in shares of Philip Morris International by 57.4% during the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after acquiring an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Citigroup raised their price objective on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Barclays increased their price objective on shares of Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group upped their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. UBS Group lifted their price objective on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and an average price target of $131.50.

Insider Buying and Selling

In other news, insider Werner Barth sold 7,500 shares of the business’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 sale, the insider now owns 95,418 shares in the company, valued at $12,402,431.64. The trade was a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the company’s 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 trade represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Philip Morris International Trading Up 2.4 %

PM stock opened at $131.72 on Tuesday. The firm’s 50-day moving average is $124.39 and its two-hundred day moving average is $113.94. The company has a market capitalization of $204.80 billion, a price-to-earnings ratio of 20.91, a price-to-earnings-growth ratio of 2.25 and a beta of 0.54. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $134.15.

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. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The firm had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. During the same period in the prior year, the firm posted $1.67 earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities research analysts predict that Philip Morris International Inc. will post 6.51 earnings per share for the current 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 given a dividend of $1.35 per share. This is a positive change 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 dividend yield of 4.10%. Philip Morris International’s dividend payout ratio (DPR) is 85.71%.

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.