Fortis Group Advisors LLC Raises Stock Position in Philip Morris International Inc. (NYSE:PM)

Fortis Group Advisors LLC raised its stake in shares of Philip Morris International Inc. (NYSE:PM) by 3,612.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,712 shares of the company’s stock after purchasing an additional 3,612 shares during the period. Fortis Group Advisors LLC’s holdings in Philip Morris International were worth $451,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Austin Private Wealth LLC raised its holdings in shares of Philip Morris International by 8.6% during the 1st quarter. Austin Private Wealth LLC now owns 3,288 shares of the company’s stock worth $299,000 after acquiring an additional 260 shares during the period. Capital Advisors Wealth Management LLC purchased a new position in Philip Morris International during the first quarter worth about $256,000. Riverview Trust Co acquired a new position in Philip Morris International in the 1st quarter valued at about $73,000. Prentice Wealth Management LLC grew its stake in shares of Philip Morris International by 9.4% in the 1st quarter. Prentice Wealth Management LLC now owns 3,874 shares of the company’s stock valued at $355,000 after buying an additional 333 shares during the period. Finally, CFM Wealth Partners LLC increased its holdings in shares of Philip Morris International by 0.4% during the 1st quarter. CFM Wealth Partners LLC now owns 89,091 shares of the company’s stock worth $8,163,000 after buying an additional 336 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

PM has been the topic of a number of research analyst reports. The Goldman Sachs Group lifted their target price 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. JPMorgan Chase & Co. upped their price target on Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Citigroup boosted their price objective on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Bank of America lifted their price target 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, Stifel Nicolaus lifted their price objective on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. One equities 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $123.95.

Insider Activity

In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of the transaction, the insider now directly owns 158,447 shares in the company, valued at $17,906,095.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total value of $2,260,200.00. Following the completion of the transaction, the insider now directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Massimo Andolina sold 9,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the transaction, the insider now owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Philip Morris International Stock Performance

PM traded up $8.53 during trading on Tuesday, reaching $127.49. The company had a trading volume of 2,918,315 shares, compared to its average volume of 5,310,736. Philip Morris International Inc. has a 12-month low of $87.23 and a 12-month high of $128.22. The company has a market cap of $198.19 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 2.35 and a beta of 0.55. The firm’s 50-day simple moving average is $121.41 and its 200 day simple moving average is $108.83.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The firm had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the prior year, the company posted $1.60 earnings per share. Philip Morris International’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, sell-side analysts expect that Philip Morris International Inc. will post 6.45 EPS 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 $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.24%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date was Thursday, September 26th. Philip Morris International’s dividend payout ratio is currently 105.47%.

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.