Creative Planning Increases Stake in Philip Morris International Inc. (NYSE:PM)

Creative Planning increased its position in shares of Philip Morris International Inc. (NYSE:PM) by 5.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 365,549 shares of the company’s stock after purchasing an additional 19,490 shares during the period. Creative Planning’s holdings in Philip Morris International were worth $44,378,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC lifted its position 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 last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Philip Morris International during the 2nd quarter valued at $25,000. Sachetta LLC grew its stake in Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after buying an additional 105 shares during the last quarter. Fortitude Family Office LLC increased its position in Philip Morris International by 57.4% during the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after buying an additional 116 shares in the last quarter. Finally, Olistico Wealth LLC purchased a new stake in Philip Morris International in the second quarter valued at about $34,000. 78.63% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the transaction, the insider now owns 85,629 shares of the company’s stock, valued at $9,877,305.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.35, for a total value of $1,038,150.00. Following the transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 158,447 shares in the company, valued at $17,906,095.47. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

PM has been the topic of a number of research analyst reports. UBS Group dropped their price target on Philip Morris International from $105.00 to $103.00 and set a “sell” rating on the stock in a research note on Tuesday, October 15th. Citigroup lifted their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. 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 target on Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Finally, Stifel Nicolaus raised their price objective on Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average target price of $123.95.

Philip Morris International Stock Up 0.1 %

PM stock opened at $120.21 on Friday. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $128.22. The firm has a market cap of $186.87 billion, a P/E ratio of 23.48, a PEG ratio of 2.35 and a beta of 0.55. The company’s 50-day simple moving average is $121.35 and its 200-day simple moving average is $108.50.

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

Philip Morris International Increases Dividend

The business also recently disclosed 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 is a boost from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 4.49%. Philip Morris International’s dividend payout ratio is currently 105.47%.

Philip Morris International Profile

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.