CacheTech Inc. Sells 834 Shares of Philip Morris International Inc. (NYSE:PM)

CacheTech Inc. cut its position in Philip Morris International Inc. (NYSE:PM) by 12.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,979 shares of the company’s stock after selling 834 shares during the quarter. CacheTech Inc.’s holdings in Philip Morris International were worth $726,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Iron Horse Wealth Management LLC boosted its position in shares of Philip Morris International by 684.4% in the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after acquiring an additional 219 shares during the period. Strategic Financial Concepts LLC acquired a new stake in Philip Morris International in the 2nd quarter worth $25,000. Sachetta LLC increased its holdings in shares of Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after purchasing an additional 105 shares during the period. Fortitude Family Office LLC raised its position in shares of Philip Morris International by 57.4% during the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after buying an additional 116 shares during the last quarter. Finally, Olistico Wealth LLC bought a new stake in shares of Philip Morris International in the second quarter valued at about $34,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Trading Down 1.5 %

NYSE PM opened at $130.65 on Friday. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $134.15. The company has a 50 day moving average of $123.70 and a 200-day moving average of $111.17. The firm has a market cap of $203.14 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 2.31 and a beta of 0.55.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, beating 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 analysts’ expectations of $9.68 billion. During the same period last year, the firm posted $1.67 EPS. The business’s revenue was up 8.4% on a year-over-year basis. On average, analysts forecast 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 declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.13%. 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 payout ratio is currently 85.71%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Barclays boosted their price target on Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday. Bank of America upped their target price on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Stifel Nicolaus reiterated a “buy” rating and set a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Finally, The Goldman Sachs Group lifted 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 report on Thursday, September 26th. One investment 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 MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and a consensus price target of $127.85.

Insider Buying and Selling

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the sale, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related 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 transaction, the insider now owns 95,418 shares in the company, valued at $12,402,431.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value 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 have sold a total of 118,418 shares of company stock worth $15,247,052 in the last 90 days. Corporate insiders own 0.13% of the company’s stock.

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.