Heritage Wealth Management Inc. Acquires Shares of 12,165 Philip Morris International Inc. (NYSE:PM)

Heritage Wealth Management Inc. bought a new position in shares of Philip Morris International Inc. (NYSE:PM) during the second quarter, according to its most recent filing with the SEC. The fund bought 12,165 shares of the company’s stock, valued at approximately $1,242,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Evoke Wealth LLC raised its position in Philip Morris International by 7.2% in the fourth quarter. Evoke Wealth LLC now owns 2,398 shares of the company’s stock worth $229,000 after acquiring an additional 162 shares during the period. KBC Group NV increased its stake in shares of Philip Morris International by 6.3% during the 4th quarter. KBC Group NV now owns 104,347 shares of the company’s stock worth $9,817,000 after purchasing an additional 6,209 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Philip Morris International by 4.7% in the 4th quarter. Jones Financial Companies Lllp now owns 24,365 shares of the company’s stock worth $2,292,000 after purchasing an additional 1,095 shares during the period. CWA Asset Management Group LLC lifted its stake in Philip Morris International by 4.8% in the fourth quarter. CWA Asset Management Group LLC now owns 3,906 shares of the company’s stock valued at $368,000 after purchasing an additional 178 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its holdings in Philip Morris International by 4.2% during the fourth quarter. Rafferty Asset Management LLC now owns 120,459 shares of the company’s stock valued at $11,333,000 after purchasing an additional 4,820 shares during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on PM shares. Barclays boosted their target price on Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, UBS Group raised their price objective on shares of Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a report on Monday, September 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $120.68.

Philip Morris International Price Performance

NYSE PM opened at $120.58 on Wednesday. The company’s 50 day simple moving average is $120.10 and its two-hundred day simple moving average is $106.10. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $128.22. The stock has a market capitalization of $187.45 billion, a PE ratio of 23.55, a P/E/G ratio of 2.37 and a beta of 0.55.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. The company had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.60 earnings per share. On average, research analysts anticipate that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date is Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is 105.47%.

Insider Transactions at Philip Morris International

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the sale, the insider now directly owns 85,629 shares in the company, valued at $9,877,305.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the sale, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the sale, the insider now directly owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

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.