Larson Financial Group LLC Grows Position in Philip Morris International Inc. (NYSE:PM)

Larson Financial Group LLC grew its position in Philip Morris International Inc. (NYSE:PM) by 227.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,100 shares of the company’s stock after acquiring an additional 6,317 shares during the quarter. Larson Financial Group LLC’s holdings in Philip Morris International were worth $1,105,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PM. Silvercrest Asset Management Group LLC raised its holdings in shares of Philip Morris International by 4.1% in the first quarter. Silvercrest Asset Management Group LLC now owns 58,070 shares of the company’s stock valued at $5,320,000 after buying an additional 2,303 shares during the last quarter. Waverly Advisors LLC grew its position in Philip Morris International by 170.9% in the 1st quarter. Waverly Advisors LLC now owns 22,001 shares of the company’s stock valued at $2,016,000 after buying an additional 13,879 shares during the last quarter. Industrial Alliance Investment Management Inc. increased its stake in Philip Morris International by 4.4% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 2,673 shares of the company’s stock valued at $245,000 after buying an additional 112 shares during the period. Whalerock Point Partners LLC increased its stake in Philip Morris International by 1.9% in the 1st quarter. Whalerock Point Partners LLC now owns 10,616 shares of the company’s stock valued at $973,000 after buying an additional 200 shares during the period. Finally, Sweeney & Michel LLC purchased a new position in Philip Morris International during the 1st quarter worth $308,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Philip Morris International

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the company’s 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 transaction, the chairman now directly owns 959,761 shares in the company, valued at approximately $124,624,965.85. This represents a 9.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $974,850.00. Following the sale, the insider now directly owns 95,418 shares in the company, valued at $12,402,431.64. This represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PM shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. UBS Group lifted their price objective on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their target price on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Citigroup lifted their price target 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. Finally, The Goldman Sachs Group upped their price objective on Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. One investment 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $131.50.

Philip Morris International Price Performance

NYSE PM opened at $129.99 on Monday. The business has a 50 day moving average price of $124.77 and a 200 day moving average price of $114.85. The company has a market capitalization of $202.11 billion, a P/E ratio of 20.63, a PEG ratio of 2.28 and a beta of 0.54. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $134.15.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.09. The business had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The business’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.67 EPS. On average, research analysts expect that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were given a $1.35 dividend. The ex-dividend date was Thursday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.15%. Philip Morris International’s dividend payout ratio is currently 85.71%.

About Philip Morris International

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.