1,755 Shares in Philip Morris International Inc. (NYSE:PM) Bought by Drive Wealth Management LLC

Drive Wealth Management LLC purchased a new stake in Philip Morris International Inc. (NYSE:PM) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,755 shares of the company’s stock, valued at approximately $215,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. grew its position in Philip Morris International by 21.4% during the 1st quarter. Hillsdale Investment Management Inc. now owns 1,700 shares of the company’s stock worth $156,000 after purchasing an additional 300 shares during the last quarter. Covestor Ltd grew its holdings in shares of Philip Morris International by 119.4% during the first quarter. Covestor Ltd now owns 1,051 shares of the company’s stock valued at $96,000 after buying an additional 572 shares during the last quarter. Seven Eight Capital LP grew its holdings in shares of Philip Morris International by 120.7% during the first quarter. Seven Eight Capital LP now owns 8,719 shares of the company’s stock valued at $799,000 after buying an additional 4,768 shares during the last quarter. Lake Street Advisors Group LLC raised its stake in Philip Morris International by 45.2% in the 1st quarter. Lake Street Advisors Group LLC now owns 7,230 shares of the company’s stock worth $672,000 after acquiring an additional 2,249 shares during the last quarter. Finally, Pitcairn Co. raised its stake in Philip Morris International by 2.2% in the 1st quarter. Pitcairn Co. now owns 29,295 shares of the company’s stock worth $2,684,000 after acquiring an additional 637 shares during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft increased their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Stifel Nicolaus restated a “buy” rating and set a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Bank of America increased their price objective on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Citigroup lifted their price objective on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Philip Morris International presently has an average rating of “Moderate Buy” and an average price target of $131.50.

Insider Buying and Selling at Philip Morris International

In related news, insider Werner Barth sold 7,500 shares of the 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 transaction, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. This represents a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’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 sale, the chairman now directly 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 company insiders.

Philip Morris International Stock Performance

NYSE:PM opened at $131.72 on Tuesday. The stock has a market capitalization of $204.80 billion, a PE ratio of 20.91, a P/E/G ratio of 2.25 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 $124.39 and a two-hundred day moving average of $113.94.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, beating 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% compared to the same quarter last year. During the same period in the prior year, the business 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 business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were paid a $1.35 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis 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.