Philip Morris International Inc. (NYSE:PM) Shares Bought by Concord Wealth Partners

Concord Wealth Partners grew its stake in shares of Philip Morris International Inc. (NYSE:PM) by 2,709.1% in the third quarter, Holdings Channel.com reports. The fund owned 309 shares of the company’s stock after buying an additional 298 shares during the quarter. Concord Wealth Partners’ holdings in Philip Morris International were worth $38,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of PM. Diversify Advisory Services LLC purchased a new stake in shares of Philip Morris International in the first quarter valued at $5,634,000. Axxcess Wealth Management LLC lifted its holdings in shares of Philip Morris International by 25.4% in the first 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. Duality Advisers LP lifted its holdings in shares of Philip Morris International by 165.6% in the first quarter. Duality Advisers LP now owns 38,644 shares of the company’s stock valued at $3,541,000 after purchasing an additional 24,093 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Philip Morris International by 17.9% in the second 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 in the last quarter. Finally, Burke & Herbert Bank & Trust Co. lifted its holdings in shares of Philip Morris International by 68.0% in the second quarter. Burke & Herbert Bank & Trust Co. now owns 20,896 shares of the company’s stock valued at $2,117,000 after purchasing an additional 8,455 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Price Performance

Philip Morris International stock opened at $130.51 on Tuesday. The company has a market capitalization of $202.88 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 2.57 and a beta of 0.55. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $133.27. The company’s fifty day moving average price is $122.74 and its two-hundred day moving average price is $110.28.

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. The company had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 12.10%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business posted $1.67 earnings per share. As a group, sell-side analysts anticipate that Philip Morris International Inc. will post 6.45 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were given a $1.35 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is currently 105.47%.

Insider Activity

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s stock in a transaction dated 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 sale, the chairman now directly owns 959,761 shares of the company’s stock, valued at approximately $124,624,965.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction dated 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 sale, the chairman now owns 959,761 shares in the company, valued at approximately $124,624,965.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Massimo Andolina sold 9,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the sale, the insider now owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 118,418 shares of company stock valued at $15,247,052. 0.13% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PM shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. The Goldman Sachs Group upped their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Bank of America upped their price target 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. Finally, UBS Group upped their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $126.85.

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.