Philip Morris International Inc. (NYSE:PM) Insider Sells $974,850.00 in Stock

by · The Cerbat Gem

Philip Morris International Inc. (NYSE:PM – Get Free Report) 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 completion of the transaction, the insider now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link.

Philip Morris International Price Performance

PM stock traded down $2.94 during trading hours on Friday, reaching $129.86. 3,886,837 shares of the stock were exchanged, compared to its average volume of 5,367,846. The firm’s 50-day moving average is $122.26 and its 200-day moving average is $109.44. The company has a market cap of $201.87 billion, a price-to-earnings ratio of 25.61, a PEG ratio of 2.57 and a beta of 0.55. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $133.27.

Philip Morris International (NYSE:PM – Get Free Report) last released its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. The firm had revenue of $9.91 billion during the quarter, compared to analysts’ expectations of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 12.10%. The company’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.67 EPS. As a group, equities research analysts forecast that Philip Morris International Inc. will post 6.45 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were issued a $1.35 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.16%. Philip Morris International’s dividend payout ratio (DPR) is presently 105.47%.

Hedge Funds Weigh In On Philip Morris International

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

Analyst Ratings Changes

A number of research firms have recently weighed in on PM. Stifel Nicolaus reissued a “buy” rating and issued a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday. UBS Group raised their price objective on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research note on Wednesday. Barclays raised their price objective on Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Finally, The Goldman Sachs Group raised their price objective on Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. One research 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 presently has an average rating of “Moderate Buy” and an average price target of $126.85.

Check Out Our Latest Analysis on Philip Morris International

About Philip Morris International

(Get 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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