Quintet Private Bank Europe S.A. Acquires 427 Shares of Philip Morris International Inc. (NYSE:PM)

Quintet Private Bank Europe S.A. increased its holdings in Philip Morris International Inc. (NYSE:PM) by 7.0% in the third quarter, HoldingsChannel reports. The firm owned 6,510 shares of the company’s stock after purchasing an additional 427 shares during the period. Quintet Private Bank Europe S.A.’s holdings in Philip Morris International were worth $790,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Iron Horse Wealth Management LLC lifted its stake in shares of Philip Morris International by 684.4% in the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after buying an additional 219 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in Philip Morris International during the 2nd quarter worth $25,000. Sachetta LLC boosted its holdings in Philip Morris International by 64.8% during the second quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after acquiring an additional 105 shares during the period. Fortitude Family Office LLC grew its position in shares of Philip Morris International by 57.4% in the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after purchasing an additional 116 shares during the last quarter. Finally, Olistico Wealth LLC bought a new position in shares of Philip Morris International in the second quarter worth about $34,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Trading Down 0.3 %

PM stock traded down $0.42 during trading on Monday, hitting $130.23. The company had a trading volume of 509,569 shares, compared to its average volume of 5,345,380. The company has a fifty day moving average price of $123.70 and a two-hundred day moving average price of $111.47. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $134.15. The company has a market cap of $202.49 billion, a P/E ratio of 20.74, a P/E/G ratio of 2.32 and a beta of 0.54.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, topping 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 analyst estimates of $9.68 billion. During the same quarter in the prior year, the firm earned $1.67 EPS. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, analysts expect that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were issued a $1.35 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International’s payout ratio is presently 85.71%.

Insider Buying and Selling

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. In other news, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total transaction of $974,850.00. Following the transaction, the insider now owns 95,418 shares of the company’s stock, valued at $12,402,431.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the business’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 sale, the chairman now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 118,418 shares of company stock worth $15,247,052 in the last three months. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on PM. Citigroup lifted their price target 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. Barclays raised their price objective on shares of Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. 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 boosted their price objective on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Bank of America increased their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $127.85.

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.