Allworth Financial LP Purchases 11,399 Shares of Philip Morris International Inc. (NYSE:PM)

Allworth Financial LP lifted its position in shares of Philip Morris International Inc. (NYSE:PM) by 23.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,234 shares of the company’s stock after purchasing an additional 11,399 shares during the period. Allworth Financial LP’s holdings in Philip Morris International were worth $7,312,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Highland Capital Management LLC bought a new position in shares of Philip Morris International during the 3rd quarter worth approximately $218,000. Sigma Investment Counselors Inc. lifted its holdings in Philip Morris International by 5.7% during the third quarter. Sigma Investment Counselors Inc. now owns 3,512 shares of the company’s stock worth $426,000 after acquiring an additional 189 shares during the period. Lake Street Advisors Group LLC boosted its position in Philip Morris International by 3.3% in the third quarter. Lake Street Advisors Group LLC now owns 7,770 shares of the company’s stock worth $954,000 after purchasing an additional 246 shares during the last quarter. Court Place Advisors LLC bought a new position in Philip Morris International in the 3rd quarter valued at $218,000. Finally, Tandem Capital Management Corp ADV increased its position in shares of Philip Morris International by 5.6% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 14,753 shares of the company’s stock valued at $1,791,000 after purchasing an additional 777 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 analysts recently issued reports on PM shares. Barclays raised their price objective on shares of Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. The Goldman Sachs Group upped their price objective on 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 raised their target price on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $126.85.

Philip Morris International Stock Down 2.2 %

Shares of NYSE PM opened at $129.86 on Friday. The company has a market cap of $201.87 billion, a P/E ratio of 25.36, a P/E/G ratio of 2.57 and a beta of 0.55. Philip Morris International Inc. has a 52 week low of $87.23 and a 52 week high of $133.27. The business has a 50-day simple moving average of $122.50 and a two-hundred day simple moving average of $109.84.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.09. The company had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a net margin of 12.10% and a negative return on equity of 117.94%. Philip Morris International’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business earned $1.67 earnings per share. Equities research analysts anticipate 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. Investors of record on Thursday, September 26th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.16%. 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 105.47%.

Insider Buying and Selling

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the sale, the insider now owns 95,418 shares of the company’s stock, valued at $12,402,431.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Werner Barth sold 7,500 shares of the stock in a transaction on Wednesday, October 23rd. The shares were 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 $12,402,431.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Massimo Andolina sold 9,000 shares of Philip Morris International 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 sale, the insider now directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 118,418 shares of company stock worth $15,247,052 over the last ninety days. 0.13% of the stock is owned by corporate insiders.

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.