Garden State Investment Advisory Services LLC Invests $209,000 in Philip Morris International Inc. (NYSE:PM)

Garden State Investment Advisory Services LLC bought a new stake in shares of Philip Morris International Inc. (NYSE:PM) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,713 shares of the company’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors have also modified their holdings of PM. Iron Horse Wealth Management LLC raised its stake in Philip Morris International by 684.4% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after purchasing 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 $25,000. Sachetta LLC lifted its stake in Philip Morris International by 64.8% in the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after acquiring an additional 105 shares in the last quarter. Valley Wealth Managers Inc. lifted its stake in Philip Morris International by 457.5% in the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock worth $27,000 after acquiring an additional 183 shares in the last quarter. Finally, Dunhill Financial LLC boosted its position in Philip Morris International by 203.8% during the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock worth $29,000 after acquiring an additional 161 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PM shares. Stifel Nicolaus reissued a “buy” rating and set a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. The Goldman Sachs Group lifted their price objective on 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 upped their target price on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Citigroup raised their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $131.50.

Insider Transactions at Philip Morris International

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the business’s stock in a transaction 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 transaction, the insider now owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. The trade was a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction dated 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 transaction, the chairman now directly owns 959,761 shares of the company’s stock, valued at $124,624,965.85. This represents a 9.60 % 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 Trading Down 0.3 %

Shares of PM stock opened at $126.62 on Friday. The company has a market capitalization of $196.87 billion, a P/E ratio of 20.10, a P/E/G ratio of 2.22 and a beta of 0.53. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $134.15. The stock has a 50 day moving average of $127.50 and a two-hundred day moving average of $117.79.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 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 the consensus estimate of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned $1.67 EPS. Sell-side analysts predict that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, December 26th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Thursday, December 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.26%. Philip Morris International’s dividend payout ratio is presently 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.