Sound Income Strategies LLC Increases Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Sound Income Strategies LLC grew its stake in Philip Morris International Inc. (NYSE:PM) by 84.8% during the 3rd quarter, Holdings Channel reports. The firm owned 3,274 shares of the company’s stock after purchasing an additional 1,502 shares during the quarter. Sound Income Strategies LLC’s holdings in Philip Morris International were worth $397,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Longfellow Investment Management Co. LLC grew its stake in shares of Philip Morris International by 0.7% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock worth $1,306,000 after purchasing an additional 88 shares during the period. Dearborn Partners LLC grew its position in Philip Morris International by 3.2% during the second quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock worth $291,000 after buying an additional 89 shares during the period. Cypress Wealth Services LLC increased its holdings in Philip Morris International by 1.3% in the third quarter. Cypress Wealth Services LLC now owns 6,748 shares of the company’s stock valued at $819,000 after buying an additional 89 shares in the last quarter. LRI Investments LLC lifted its position in shares of Philip Morris International by 1.5% during the 2nd quarter. LRI Investments LLC now owns 6,287 shares of the company’s stock valued at $637,000 after acquiring an additional 92 shares during the period. Finally, First Financial Bank Trust Division boosted its stake in shares of Philip Morris International by 3.9% during the 3rd quarter. First Financial Bank Trust Division now owns 2,524 shares of the company’s stock worth $306,000 after acquiring an additional 95 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analysts Set New Price Targets

PM has been the subject of several research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. 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. Barclays increased their price objective on shares of Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Citigroup lifted their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $124.15.

Philip Morris International Stock Performance

Shares of PM opened at $120.10 on Monday. The company has a market capitalization of $186.70 billion, a price-to-earnings ratio of 23.46, a PEG ratio of 2.35 and a beta of 0.55. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $128.22. The company’s 50 day simple moving average is $120.84 and its 200 day simple moving average is $107.61.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.02. The business had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The business’s revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.60 earnings per share. Equities analysts expect that Philip Morris International Inc. will post 6.45 EPS 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. Stockholders of record on Thursday, September 26th were paid a dividend of $1.35 per share. The ex-dividend date was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.50%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio is currently 105.47%.

Insider Transactions at Philip Morris International

In related news, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the sale, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the transaction, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $113.01, for a total value of $2,260,200.00. Following the sale, the insider now owns 158,447 shares of the company’s stock, valued at $17,906,095.47. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

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.