Howe & Rusling Inc. Acquires 383 Shares of Philip Morris International Inc. (NYSE:PM)

Howe & Rusling Inc. grew its holdings in Philip Morris International Inc. (NYSE:PM) by 0.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 139,128 shares of the company’s stock after purchasing an additional 383 shares during the period. Philip Morris International makes up about 1.5% of Howe & Rusling Inc.’s holdings, making the stock its 18th biggest position. Howe & Rusling Inc.’s holdings in Philip Morris International were worth $16,890,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Massachusetts Financial Services Co. MA lifted its holdings in shares of Philip Morris International by 79.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,878,158 shares of the company’s stock worth $595,634,000 after acquiring an additional 2,599,684 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Philip Morris International by 16.3% in the second quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock worth $1,341,050,000 after purchasing an additional 1,856,551 shares during the last quarter. Capital Research Global Investors boosted its position in Philip Morris International by 3.1% during the first quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock valued at $5,517,085,000 after buying an additional 1,800,864 shares during the period. Capital World Investors increased its holdings in shares of Philip Morris International by 1.5% in the first quarter. Capital World Investors now owns 111,247,656 shares of the company’s stock worth $10,192,510,000 after buying an additional 1,684,992 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Philip Morris International in the second quarter worth about $155,373,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were 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 directly owns 959,761 shares in the company, valued at $124,624,965.85. This represents a 9.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Werner Barth sold 7,500 shares of Philip Morris International 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 transaction, the insider now owns 95,418 shares in the company, valued at approximately $12,402,431.64. This trade represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PM shares. The Goldman Sachs Group lifted 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. JPMorgan Chase & Co. upped 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. Deutsche Bank Aktiengesellschaft increased their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. UBS Group upped their price objective on shares of Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research note on Wednesday, October 23rd. Finally, Barclays raised their target price 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $131.50.

Philip Morris International Stock Down 1.7 %

PM opened at $129.54 on Wednesday. The stock has a market cap of $201.41 billion, a PE ratio of 20.56, a PEG ratio of 2.25 and a beta of 0.54. The business has a 50 day moving average of $124.44 and a 200-day moving average of $114.16. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $134.15.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. The business 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 10.35%. Philip Morris International’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.67 EPS. Equities analysts anticipate that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date was Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is 85.71%.

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.