Trajan Wealth LLC Buys 9,294 Shares of Philip Morris International Inc. (NYSE:PM)

Trajan Wealth LLC increased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 16.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,273 shares of the company’s stock after buying an additional 9,294 shares during the quarter. Trajan Wealth LLC’s holdings in Philip Morris International were worth $8,167,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of PM. Iron Horse Wealth Management LLC lifted its position in shares of Philip Morris International by 684.4% during the 2nd 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 period. Strategic Financial Concepts LLC bought a new position in shares of Philip Morris International during the 2nd quarter worth approximately $25,000. Sachetta LLC lifted its position in shares of Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after buying an additional 105 shares during the period. Fortitude Family Office LLC lifted its position in shares of Philip Morris International by 57.4% during the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after buying an additional 116 shares during the period. Finally, Olistico Wealth LLC bought a new position in shares of Philip Morris International during the 2nd quarter worth approximately $34,000. Institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on PM. Barclays raised their price target on Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft raised their price target on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Citigroup raised their price target on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. The Goldman Sachs Group raised their price target on Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Bank of America raised their price target on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a report 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 stock. Based on data from MarketBeat, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average target price of $126.85.

Insider Buying and Selling

In related news, insider Werner Barth sold 7,500 shares of Philip Morris International 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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction dated 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 transaction, the chairman now directly owns 959,761 shares in the company, valued at approximately $124,624,965.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Werner Barth sold 7,500 shares of the business’s stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders sold a total of 118,418 shares of company stock valued at $15,247,052 over the last three months. Company insiders own 0.14% of the company’s stock.

Philip Morris International Stock Performance

NYSE PM opened at $131.57 on Wednesday. The stock has a fifty day moving average of $122.99 and a 200-day moving average of $110.58. The stock has a market capitalization of $204.56 billion, a P/E ratio of 20.88, a price-to-earnings-growth ratio of 2.57 and a beta of 0.55. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $133.27.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.82 by $0.09. Philip Morris International had a negative return on equity of 117.94% and a net margin of 12.10%. The company had revenue of $9.91 billion during the quarter, compared to analysts’ expectations of $9.68 billion. During the same period last year, the firm earned $1.67 EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities research analysts forecast that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, September 26th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.10%. 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.