Cornerstone Wealth Group LLC Buys 31,592 Shares of Philip Morris International Inc. (NYSE:PM)

Cornerstone Wealth Group LLC grew its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 450.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 38,606 shares of the company’s stock after purchasing an additional 31,592 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Philip Morris International were worth $4,687,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PM. Iron Horse Wealth Management LLC increased its position in shares of Philip Morris International by 684.4% during 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 during the last quarter. Strategic Financial Concepts LLC bought a new stake in Philip Morris International in the second quarter valued at approximately $25,000. Sachetta LLC lifted its position in Philip Morris International by 64.8% in the second quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after purchasing an additional 105 shares during the last quarter. Fortitude Family Office LLC raised its holdings in shares of Philip Morris International by 57.4% during 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 in the last quarter. Finally, Olistico Wealth LLC purchased a new stake in Philip Morris International in the second quarter worth $34,000. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Performance

Philip Morris International stock opened at $132.12 on Thursday. The business’s 50-day simple moving average is $123.23 and its two-hundred day simple moving average is $110.73. The company has a market cap of $205.42 billion, a PE ratio of 20.97, a PEG ratio of 2.57 and a beta of 0.55. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $133.27.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. Philip Morris International had a negative return on equity of 117.94% and a net margin of 12.10%. The firm had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. During the same quarter in the prior year, the business earned $1.67 earnings per share. The company’s revenue was up 8.4% compared to the same quarter last year. As a group, analysts predict that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were paid a $1.35 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.09%. Philip Morris International’s dividend payout ratio is presently 85.71%.

Wall Street Analysts Forecast Growth

PM has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. raised 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. Barclays raised their price target on Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday. Citigroup lifted their target price 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, The Goldman Sachs Group raised their price target on Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $127.85.

Insider Buying and Selling

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total value of $13,234,052.30. Following the completion of the transaction, the chairman now owns 959,761 shares of the company’s stock, valued at approximately $124,624,965.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was 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 owns 959,761 shares of the company’s stock, valued at $124,624,965.85. 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. Also, insider Werner Barth sold 7,500 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the transaction, the insider now directly owns 95,418 shares of the company’s stock, valued at $12,402,431.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 118,418 shares of company stock valued at $15,247,052. 0.14% of the stock is owned by company insiders.

About Philip Morris International

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.