476 Shares in Philip Morris International Inc. (NYSE:PM) Bought by Reston Wealth Management LLC

01 Nov 2024, 08:42 by Renee Jackson · The Cerbat Gem

Reston Wealth Management LLC bought a new stake in Philip Morris International Inc. (NYSE:PM – Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 476 shares of the company’s stock, valued at approximately $58,000.

A number of other large investors have also bought and sold shares of the company. GQG Partners LLC raised its stake in Philip Morris International by 5,006.0% in the 1st quarter. GQG Partners LLC now owns 5,958,391 shares of the company’s stock valued at $545,908,000 after acquiring an additional 5,841,696 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Philip Morris International by 79.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,878,158 shares of the company’s stock valued at $595,634,000 after purchasing an additional 2,599,684 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Philip Morris International by 16.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock valued at $1,341,050,000 after buying an additional 1,856,551 shares in the last quarter. Capital Research Global Investors boosted its holdings in Philip Morris International by 3.1% in the 1st quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock worth $5,517,085,000 after buying an additional 1,800,864 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in Philip Morris International by 294.1% in the 1st quarter. BNP Paribas Financial Markets now owns 2,367,002 shares of the company’s stock valued at $216,865,000 after buying an additional 1,766,383 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. boosted their target price on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Bank of America raised their price target on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Stifel Nicolaus reissued a “buy” rating and set a $145.00 price objective (up previously from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group raised 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 note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and a consensus target price of $127.85.

Read Our Latest Stock Report on Philip Morris International

Philip Morris International Stock Up 0.4 %

NYSE PM opened at $132.70 on Friday. The company has a 50-day simple moving average of $123.49 and a two-hundred day simple moving average of $110.88. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $134.15. The firm has a market cap of $206.33 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 2.31 and a beta of 0.55.

Philip Morris International (NYSE:PM – Get Free Report) last posted 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. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The business had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.68 billion. During the same period last year, the company earned $1.67 EPS. Philip Morris International’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities 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 company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were given a dividend of $1.35 per share. The ex-dividend date was Thursday, September 26th. This represents a $5.40 annualized dividend and a yield of 4.07%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio is presently 85.71%.

Insiders Place Their Bets

In other 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 transaction 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 approximately $124,624,965.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the company’s 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 completion of the transaction, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $13,234,052.30. Following the sale, the chairman now directly owns 959,761 shares in the company, valued at $124,624,965.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 118,418 shares of company stock valued at $15,247,052 in the last quarter. Insiders own 0.13% of the company’s stock.

Philip Morris International Profile

(Free Report)

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.