Sumitomo Life Insurance Co. Purchases 434 Shares of Philip Morris International Inc. (NYSE:PM)

Sumitomo Life Insurance Co. grew its position in shares of Philip Morris International Inc. (NYSE:PM) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,827 shares of the company’s stock after buying an additional 434 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Philip Morris International were worth $2,286,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. SeaCrest Wealth Management LLC lifted its holdings in Philip Morris International by 1.4% during the third quarter. SeaCrest Wealth Management LLC now owns 22,449 shares of the company’s stock worth $2,725,000 after acquiring an additional 304 shares during the period. Griffin Asset Management Inc. increased its position in shares of Philip Morris International by 1.8% during the 3rd quarter. Griffin Asset Management Inc. now owns 24,435 shares of the company’s stock valued at $2,966,000 after purchasing an additional 442 shares during the last quarter. Opal Wealth Advisors LLC raised its stake in shares of Philip Morris International by 93.9% during the 3rd quarter. Opal Wealth Advisors LLC now owns 4,443 shares of the company’s stock worth $539,000 after purchasing an additional 2,152 shares during the period. Cascade Investment Group Inc. purchased a new position in shares of Philip Morris International in the 3rd quarter worth about $215,000. Finally, Acorn Creek Capital LLC purchased a new position in shares of Philip Morris International in the 3rd quarter worth about $213,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Insider Buying and Selling at Philip Morris International

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

Philip Morris International Trading Up 0.0 %

Shares of NYSE PM traded up $0.05 during mid-day trading on Wednesday, hitting $120.47. The company had a trading volume of 317,180 shares, compared to its average volume of 5,327,126. The stock’s 50-day moving average price is $121.09 and its 200-day moving average price is $108.01. The company has a market capitalization of $187.28 billion, a price-to-earnings ratio of 23.52, a P/E/G 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.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The business had revenue of $9.47 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the previous year, the firm earned $1.60 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, equities research analysts forecast that Philip Morris International Inc. will post 6.45 earnings per share for the current year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were paid a $1.35 dividend. 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 4.48%. Philip Morris International’s dividend payout ratio is currently 105.47%.

Wall Street Analyst Weigh In

Several analysts have commented on PM shares. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. increased their price objective on Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Stifel Nicolaus boosted their target price on Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft increased their price target on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Finally, Citigroup boosted their price objective on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $123.95.

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.