Kovack Advisors Inc. Buys 203 Shares of Philip Morris International Inc. (NYSE:PM)

Kovack Advisors Inc. raised its stake in Philip Morris International Inc. (NYSE:PM) by 3.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,013 shares of the company’s stock after buying an additional 203 shares during the period. Kovack Advisors Inc.’s holdings in Philip Morris International were worth $851,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in PM. White Lighthouse Investment Management Inc. boosted its stake in Philip Morris International by 71.4% in the third quarter. White Lighthouse Investment Management Inc. now owns 11,999 shares of the company’s stock worth $1,457,000 after buying an additional 4,999 shares in the last quarter. Axxcess Wealth Management LLC boosted its stake in shares of Philip Morris International by 25.4% in the 1st quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock valued at $3,151,000 after purchasing an additional 6,974 shares in the last quarter. Kennebec Savings Bank bought a new position in shares of Philip Morris International during the 3rd quarter valued at $692,000. Sequoia Financial Advisors LLC grew its holdings in shares of Philip Morris International by 17.9% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 31,591 shares of the company’s stock valued at $3,203,000 after purchasing an additional 4,793 shares during the last quarter. Finally, Burke & Herbert Bank & Trust Co. raised its position in Philip Morris International by 68.0% in the 2nd quarter. Burke & Herbert Bank & Trust Co. now owns 20,896 shares of the company’s stock worth $2,117,000 after purchasing an additional 8,455 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Trading Up 0.8 %

Shares of NYSE PM opened at $125.24 on Thursday. The firm has a fifty day simple moving average of $124.21 and a two-hundred day simple moving average of $113.02. The firm has a market capitalization of $194.73 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 2.17 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.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 EPS 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 during the quarter, compared to analyst estimates of $9.68 billion. During the same period last year, the business posted $1.67 earnings per share. Philip Morris International’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, sell-side analysts predict that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders 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. 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 4.31%. Philip Morris International’s dividend payout ratio is 85.71%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PM shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. UBS Group increased their target price on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a report on Wednesday, October 23rd. Barclays lifted their price target on Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft increased their price objective 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. Finally, Bank of America lifted their target price 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 research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.85.

Insiders Place Their Bets

In other news, insider Werner Barth sold 7,500 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the sale, the insider now owns 95,418 shares in the company, valued at approximately $12,402,431.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Werner Barth sold 7,500 shares of the business’s stock in a transaction that occurred 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 sale, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the company’s stock in a transaction that occurred on 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 sale, the chairman now owns 959,761 shares in the company, valued at $124,624,965.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

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.