PBMares Wealth Management LLC Sells 115 Shares of Philip Morris International Inc. (NYSE:PM)

by · The Markets Daily

PBMares Wealth Management LLC cut its holdings in shares of Philip Morris International Inc. (NYSE:PM – Free Report) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,846 shares of the company’s stock after selling 115 shares during the period. PBMares Wealth Management LLC’s holdings in Philip Morris International were worth $953,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fortitude Family Office LLC boosted its holdings in shares of Philip Morris International by 546.2% in the third quarter. Fortitude Family Office LLC now owns 2,055 shares of the company’s stock valued at $249,000 after buying an additional 1,737 shares during the period. Gateway Wealth Partners LLC bought a new stake in Philip Morris International in the 3rd quarter valued at $264,000. China Universal Asset Management Co. Ltd. bought a new stake in Philip Morris International in the 3rd quarter valued at $686,000. Hunter Associates Investment Management LLC boosted its stake in Philip Morris International by 1.6% in the 3rd quarter. Hunter Associates Investment Management LLC now owns 33,656 shares of the company’s stock worth $4,074,000 after purchasing an additional 526 shares during the period. Finally, Orrstown Financial Services Inc. bought a new position in Philip Morris International during the 3rd quarter worth about $298,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Price Performance

PM stock traded up $0.55 during trading hours on Tuesday, reaching $131.05. The stock had a trading volume of 673,314 shares, compared to its average volume of 5,346,142. The stock has a 50-day simple moving average of $122.74 and a 200 day simple moving average of $110.28. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $133.27. The stock has a market capitalization of $203.72 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 2.57 and a beta of 0.55.

Philip Morris International (NYSE:PM – Get Free Report) last issued its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating 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 net margin of 12.10% and a negative return on equity of 117.94%. Philip Morris International’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the business posted $1.67 EPS. On average, sell-side analysts forecast that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend 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 dividend on an annualized basis and a dividend yield of 4.12%. Philip Morris International’s payout ratio is presently 105.47%.

Insider Buying and Selling

In other news, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the completion of the sale, the insider now owns 95,418 shares in the company, valued at approximately $12,402,431.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Werner Barth sold 7,500 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total transaction of $974,850.00. Following the transaction, the insider now owns 95,418 shares in the company, valued at approximately $12,402,431.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s stock in a transaction on 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 completion of the sale, the chairman now owns 959,761 shares of the company’s stock, valued at $124,624,965.85. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 118,418 shares of company stock valued at $15,247,052. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PM shares. JPMorgan Chase & Co. boosted their price target on Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Barclays lifted their price objective on shares of Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, September 9th. The Goldman Sachs Group boosted their price objective on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $126.85.

Read Our Latest Analysis on Philip Morris International

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.

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