Bar Harbor Wealth Management Has $880,000 Position in Philip Morris International Inc. (NYSE:PM)

Bar Harbor Wealth Management grew its holdings in Philip Morris International Inc. (NYSE:PM) by 87.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,309 shares of the company’s stock after buying an additional 3,420 shares during the quarter. Bar Harbor Wealth Management’s holdings in Philip Morris International were worth $880,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PM. Valley Wealth Managers Inc. boosted its holdings in Philip Morris International by 457.5% in the third 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. Dunhill Financial LLC lifted its position in Philip Morris International by 203.8% during the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock valued at $29,000 after purchasing an additional 161 shares during the period. Concord Wealth Partners boosted its stake in shares of Philip Morris International by 2,709.1% in the 3rd quarter. Concord Wealth Partners now owns 309 shares of the company’s stock valued at $38,000 after purchasing an additional 298 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Philip Morris International during the 3rd quarter worth approximately $54,000. Finally, Reston Wealth Management LLC bought a new stake in shares of Philip Morris International during the third quarter worth approximately $58,000. Institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PM shares. Barclays reduced their price objective on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. lifted their price objective on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Citigroup upped their price objective on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Stifel Nicolaus restated a “buy” rating and set a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their price target 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $130.39.

Insider Buying and Selling

In related news, insider Werner Barth sold 7,500 shares of Philip Morris International 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 in the company, valued at approximately $12,402,431.64. This trade represents a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total value of $13,234,052.30. Following the completion of the sale, the chairman now owns 959,761 shares in the company, valued at $124,624,965.85. This represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Philip Morris International Price Performance

PM traded up $0.32 during trading on Monday, reaching $117.47. The company had a trading volume of 3,381,552 shares, compared to its average volume of 4,084,856. The company has a market cap of $182.65 billion, a P/E ratio of 18.65, a PEG ratio of 2.22 and a beta of 0.54. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $134.15. The business’s fifty day moving average price is $126.34 and its 200 day moving average price is $120.84.

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

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, December 26th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date is Thursday, December 26th. Philip Morris International’s dividend payout ratio is currently 85.71%.

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.