Acorn Creek Capital LLC Buys Shares of 1,756 Philip Morris International Inc. (NYSE:PM)

Acorn Creek Capital LLC bought a new stake in shares of Philip Morris International Inc. (NYSE:PM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,756 shares of the company’s stock, valued at approximately $213,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PM. Longfellow Investment Management Co. LLC increased its holdings in Philip Morris International by 0.7% in the 2nd quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock valued at $1,306,000 after acquiring an additional 88 shares during the last quarter. Dearborn Partners LLC increased its holdings in shares of Philip Morris International by 3.2% in the 2nd quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock worth $291,000 after buying an additional 89 shares during the last quarter. Cypress Wealth Services LLC increased its holdings in shares of Philip Morris International by 1.3% in the 3rd quarter. Cypress Wealth Services LLC now owns 6,748 shares of the company’s stock worth $819,000 after buying an additional 89 shares during the last quarter. Luts & Greenleigh Group Inc. increased its holdings in shares of Philip Morris International by 1.1% in the 3rd quarter. Luts & Greenleigh Group Inc. now owns 8,448 shares of the company’s stock worth $1,026,000 after buying an additional 89 shares during the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC increased its holdings in shares of Philip Morris International by 1.1% in the 3rd quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 8,180 shares of the company’s stock worth $993,000 after buying an additional 90 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PM shares. UBS Group reduced their target price on shares of Philip Morris International from $105.00 to $103.00 and set a “sell” rating on the stock in a report on Tuesday. Bank of America boosted their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Stifel Nicolaus lifted their price target on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. The Goldman Sachs Group lifted their price target 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, StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. One equities research 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. Based on data from MarketBeat, Philip Morris International presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.95.

Insider Activity at Philip Morris International

In other Philip Morris International 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 value of $1,038,150.00. Following the completion of the transaction, the insider now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Philip Morris International 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 value of $1,038,150.00. Following the completion of the transaction, the insider now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of the firm’s 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 completion of the transaction, the insider now directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. This represents a 0.00 % 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 Stock Performance

NYSE PM opened at $120.42 on Wednesday. The firm’s 50 day moving average price is $121.09 and its 200-day moving average price is $108.01. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $128.22. The company has a market cap of $187.20 billion, a PE ratio of 23.52, a P/E/G ratio of 2.35 and a beta of 0.55.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The company had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter in the prior year, the company posted $1.60 earnings per share. Philip Morris International’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, analysts forecast that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were given a dividend of $1.35 per share. This is a boost 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 yield of 4.48%. Philip Morris International’s dividend payout ratio is presently 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.