Shum Financial Group Inc. Makes New $773,000 Investment in Philip Morris International Inc. (NYSE:PM)

Shum Financial Group Inc. acquired a new stake in Philip Morris International Inc. (NYSE:PM) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,847 shares of the company’s stock, valued at approximately $773,000.

Several other hedge funds have also recently bought and sold shares of PM. 49 Wealth Management LLC grew its holdings in Philip Morris International by 3.6% during the 3rd quarter. 49 Wealth Management LLC now owns 2,432 shares of the company’s stock valued at $295,000 after buying an additional 84 shares during the last quarter. Woodmont Investment Counsel LLC boosted its holdings in shares of Philip Morris International by 1.6% during the third quarter. Woodmont Investment Counsel LLC now owns 5,452 shares of the company’s stock worth $662,000 after purchasing an additional 86 shares during the last quarter. YHB Investment Advisors Inc. boosted its holdings in shares of Philip Morris International by 4.2% during the third quarter. YHB Investment Advisors Inc. now owns 2,158 shares of the company’s stock worth $262,000 after purchasing an additional 87 shares during the last quarter. Longfellow Investment Management Co. LLC boosted its holdings in Philip Morris International by 0.7% in the second 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. Finally, Dearborn Partners LLC boosted its holdings in Philip Morris International by 3.2% in the second quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock valued at $291,000 after acquiring an additional 89 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PM has been the topic of a number of research analyst reports. Barclays lifted their target price on Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Citigroup lifted 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. Stifel Nicolaus reissued a “buy” rating and issued a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. UBS Group boosted their price objective on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price 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. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Philip Morris International presently has an average rating of “Moderate Buy” and a consensus target price of $131.50.

Insider Activity

In related news, insider Werner Barth sold 7,500 shares of the company’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 completion of the sale, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. This represents a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the sale, the chairman now owns 959,761 shares of the company’s stock, valued at $124,624,965.85. This represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Philip Morris International Trading Up 0.6 %

NYSE:PM traded up $0.74 during trading hours on Tuesday, hitting $131.45. 483,688 shares of the stock traded hands, compared to its average volume of 5,367,820. The firm has a 50 day moving average price of $124.86 and a 200 day moving average price of $115.07. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $134.15. The firm has a market cap of $204.38 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 2.28 and a beta of 0.54.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating 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 company had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. During the same period in the previous year, the business earned $1.67 EPS. The company’s revenue was up 8.4% on a year-over-year basis. Research analysts predict that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were issued a dividend of $1.35 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.11%. The ex-dividend date was Thursday, September 26th. Philip Morris International’s payout ratio is currently 85.71%.

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.