Philip Morris International Inc. (NYSE:PM) Shares Purchased by Beese Fulmer Investment Management Inc.

Beese Fulmer Investment Management Inc. boosted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 0.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,565 shares of the company’s stock after buying an additional 478 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Philip Morris International were worth $13,423,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PM. Iron Horse Wealth Management LLC increased its stake in Philip Morris International by 684.4% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after buying an additional 219 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of Philip Morris International during the 2nd quarter worth about $25,000. Sachetta LLC increased 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 acquiring an additional 105 shares during the last quarter. Fortitude Family Office LLC increased its stake 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 purchasing an additional 116 shares during the last quarter. Finally, Olistico Wealth LLC acquired a new position in shares of Philip Morris International in the 2nd quarter valued at $34,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PM has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday. Bank of America boosted their price objective on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Stifel Nicolaus restated a “buy” rating and set a $145.00 target price (up from $138.00) on shares of Philip Morris International in a research report on Wednesday. Citigroup raised their price target on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, UBS Group upped their price objective on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $126.85.

Philip Morris International Price Performance

Philip Morris International stock opened at $131.39 on Thursday. Philip Morris International Inc. has a 1-year low of $87.23 and a 1-year high of $131.97. The stock’s 50 day moving average price is $121.97 and its 200 day moving average price is $109.28. The company has a market cap of $204.25 billion, a PE ratio of 25.66, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 9.41% and a negative return on equity of 113.32%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.67 EPS. On average, equities research analysts anticipate that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently disclosed 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 boost from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.11%. Philip Morris International’s payout ratio is currently 105.47%.

Insiders Place Their Bets

In other news, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the transaction, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.13% of the stock is owned by company insiders.

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.