Fiduciary Trust Co Raises Stock Position in Philip Morris International Inc. (NYSE:PM)

Fiduciary Trust Co boosted its holdings in Philip Morris International Inc. (NYSE:PM) by 40.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 32,847 shares of the company’s stock after buying an additional 9,391 shares during the period. Fiduciary Trust Co’s holdings in Philip Morris International were worth $3,988,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Iron Horse Wealth Management LLC grew 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 valued at $25,000 after purchasing an additional 219 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Philip Morris International in the 2nd quarter valued at about $25,000. Sachetta LLC lifted 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. Valley Wealth Managers Inc. lifted its holdings in shares of Philip Morris International by 457.5% in the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock valued at $27,000 after acquiring an additional 183 shares during the last quarter. Finally, Fortitude Family Office LLC lifted 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 acquiring an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Bank of America increased their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Citigroup increased their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. increased their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group raised their price objective on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $145.00 price objective (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $131.50.

Insiders Place Their Bets

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the transaction, the chairman now directly owns 959,761 shares in the company, valued at $124,624,965.85. The trade was a 9.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total transaction of $974,850.00. Following the completion of the transaction, the insider now owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. This trade represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Philip Morris International Stock Performance

Shares of NYSE:PM opened at $131.82 on Friday. The firm has a market cap of $204.96 billion, a PE ratio of 20.92, a price-to-earnings-growth ratio of 2.31 and a beta of 0.54. The firm’s 50 day simple moving average is $125.50 and its 200-day simple moving average is $115.53. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $134.15.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.09. The company had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. Philip Morris International’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $1.67 earnings per share. Equities research analysts predict that Philip Morris International Inc. will post 6.51 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm 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. This represents a $5.40 annualized dividend and a yield of 4.10%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is presently 85.71%.

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.