Firethorn Wealth Partners LLC Makes New $215,000 Investment in Philip Morris International Inc. (NYSE:PM)

Firethorn Wealth Partners LLC bought a new stake in Philip Morris International Inc. (NYSE:PM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,770 shares of the company’s stock, valued at approximately $215,000.

Other large investors have also modified their holdings of the company. Iron Horse Wealth Management LLC boosted its holdings in Philip Morris International by 684.4% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after purchasing an additional 219 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in Philip Morris International during the second quarter worth $25,000. Sachetta LLC raised its position in Philip Morris International by 64.8% in the second quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after acquiring an additional 105 shares in the last quarter. Boyd Watterson Asset Management LLC OH raised its position in Philip Morris International by 250.0% in the first quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock worth $30,000 after acquiring an additional 230 shares in the last quarter. Finally, Fortitude Family Office LLC lifted its holdings in Philip Morris International by 57.4% in the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after acquiring an additional 116 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

PM has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Citigroup lifted their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. UBS Group decreased 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. Deutsche Bank Aktiengesellschaft raised 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. Finally, Stifel Nicolaus boosted their target price on Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $123.95.

Insider Activity 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 shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the transaction, the insider now owns 85,629 shares of the company’s stock, valued at $9,877,305.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related 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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 in the company, valued at $17,906,095.47. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Philip Morris International Stock Up 0.4 %

Shares of NYSE:PM opened at $120.86 on Thursday. The company has a market capitalization of $187.88 billion, a P/E ratio of 23.61, a P/E/G ratio of 2.35 and a beta of 0.55. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $128.22. The stock’s fifty day simple moving average is $121.19 and its 200-day simple moving average is $108.10.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 9.41% and a negative return on equity of 113.32%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.60 EPS. On average, sell-side analysts anticipate that Philip Morris International Inc. will post 6.45 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were issued a $1.35 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.47%. Philip Morris International’s payout ratio is 105.47%.

Philip Morris International Company 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.