Sheaff Brock Investment Advisors LLC Sells 291 Shares of Philip Morris International Inc. (NYSE:PM)

Sheaff Brock Investment Advisors LLC trimmed its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 0.7% during the 3rd quarter, Holdings Channel reports. The fund owned 42,970 shares of the company’s stock after selling 291 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Philip Morris International were worth $5,217,000 as of its most recent SEC filing.

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

Philip Morris International Stock Performance

Philip Morris International stock opened at $128.56 on Friday. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $134.15. The company has a 50 day moving average price of $124.19 and a 200 day moving average price of $113.11. The firm has a market capitalization of $199.89 billion, a price-to-earnings ratio of 20.35, a P/E/G ratio of 2.19 and a beta of 0.54.

Philip Morris International (NYSE:PM) last issued its quarterly 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 negative return on equity of 117.94% and a net margin of 10.35%. The company had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. During the same period last year, the business posted $1.67 earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year. Equities analysts forecast that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were given 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 annualized dividend and a yield of 4.20%. Philip Morris International’s dividend payout ratio is 85.71%.

Insider Transactions at Philip Morris International

In related news, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the sale, the insider now owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. This represents a 7.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’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 transaction of $13,234,052.30. Following the completion of the sale, 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 disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PM has been the subject of a number of recent analyst reports. Barclays lifted their price target on shares of Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. UBS Group increased their price target on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research report on Wednesday, October 23rd. Bank of America increased their price objective on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Citigroup boosted their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. raised their price target on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. One equities 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.85.

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.