Pursue Wealth Partners LLC Acquires Shares of 2,779 Philip Morris International Inc. (NYSE:PM)

Pursue Wealth Partners LLC bought a new position in shares of Philip Morris International Inc. (NYSE:PM) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,779 shares of the company’s stock, valued at approximately $337,000.

A number of other institutional investors also recently made changes to their positions in PM. YHB Investment Advisors Inc. grew its position in shares of Philip Morris International by 4.2% during the 3rd quarter. YHB Investment Advisors Inc. now owns 2,158 shares of the company’s stock valued at $262,000 after acquiring an additional 87 shares during the period. Longfellow Investment Management Co. LLC raised its holdings in shares of Philip Morris International by 0.7% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock worth $1,306,000 after acquiring an additional 88 shares during the period. Dearborn Partners LLC boosted its holdings in Philip Morris International by 3.2% in the 2nd quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock valued at $291,000 after purchasing an additional 89 shares during the last quarter. Cypress Wealth Services LLC grew its position in Philip Morris International by 1.3% in the third quarter. Cypress Wealth Services LLC now owns 6,748 shares of the company’s stock worth $819,000 after acquiring an additional 89 shares during the period. Finally, Luts & Greenleigh Group Inc. increased its position in shares of Philip Morris International by 1.1% during the 3rd quarter. Luts & Greenleigh Group Inc. now owns 8,448 shares of the company’s stock worth $1,026,000 after purchasing an additional 89 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Stifel Nicolaus restated a “buy” rating and set a $145.00 price target (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Citigroup raised their target price on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised their price objective on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Finally, Bank of America upped their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. One investment 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $126.85.

Philip Morris International Stock Up 0.5 %

NYSE PM traded up $0.64 on Wednesday, reaching $132.21. 1,252,461 shares of the stock traded hands, compared to its average volume of 5,349,635. The firm’s fifty day simple moving average is $122.99 and its 200 day simple moving average is $110.58. The company has a market cap of $205.56 billion, a price-to-earnings ratio of 20.88, a P/E/G ratio of 2.57 and a beta of 0.55. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $133.27.

Philip Morris International (NYSE:PM) last released its 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 company had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 12.10%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.67 earnings per share. As a group, equities research analysts forecast that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were given a $1.35 dividend. 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. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.08%. Philip Morris International’s dividend payout ratio (DPR) is currently 85.71%.

Insiders Place Their Bets

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 95,418 shares in the company, valued at $12,402,431.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the sale, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. 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 this link. Also, insider Massimo Andolina sold 9,000 shares of Philip Morris International 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 sale, the insider now directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 118,418 shares of company stock valued at $15,247,052 in the last quarter. Insiders own 0.14% of the company’s stock.

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.