Commonwealth Equity Services LLC Has $71.94 Million Stock Position in Philip Morris International Inc. (NYSE:PM)

Commonwealth Equity Services LLC grew its holdings in Philip Morris International Inc. (NYSE:PM) by 9.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 592,619 shares of the company’s stock after purchasing an additional 52,211 shares during the period. Commonwealth Equity Services LLC’s holdings in Philip Morris International were worth $71,944,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PM. RFG Advisory LLC raised its stake in shares of Philip Morris International by 3.1% during the 1st quarter. RFG Advisory LLC now owns 14,080 shares of the company’s stock worth $1,290,000 after purchasing an additional 421 shares in the last quarter. Gulf International Bank UK Ltd raised its position in Philip Morris International by 5.1% during the first quarter. Gulf International Bank UK Ltd now owns 10,001 shares of the company’s stock worth $916,000 after acquiring an additional 489 shares in the last quarter. &PARTNERS lifted its stake in Philip Morris International by 86.4% in the first quarter. &PARTNERS now owns 5,792 shares of the company’s stock valued at $515,000 after acquiring an additional 2,684 shares during the last quarter. Royal Fund Management LLC grew its position in shares of Philip Morris International by 4.6% in the 1st quarter. Royal Fund Management LLC now owns 10,504 shares of the company’s stock valued at $963,000 after acquiring an additional 465 shares during the period. Finally, Ballentine Partners LLC increased its stake in shares of Philip Morris International by 49.8% during the 1st quarter. Ballentine Partners LLC now owns 12,427 shares of the company’s stock worth $1,139,000 after purchasing an additional 4,133 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Insider Transactions at Philip Morris International

In related news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction 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 sale, the insider now owns 158,447 shares of the company’s stock, valued at $17,906,095.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 158,447 shares in the company, valued at $17,906,095.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following 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 disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Bank of America boosted their price target on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Citigroup boosted their target price on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. lifted 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 report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Finally, Barclays lifted their target price on shares of Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $123.95.

Philip Morris International Price Performance

Shares of NYSE:PM opened at $120.21 on Friday. The business’s 50 day simple moving average is $121.35 and its 200 day simple moving average is $108.50. The company has a market capitalization of $186.87 billion, a P/E ratio of 23.48, 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 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. The firm had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.60 earnings per share. On average, sell-side analysts anticipate that Philip Morris International Inc. will post 6.45 EPS 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. Stockholders of record on Thursday, September 26th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, September 26th. 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 4.49%. Philip Morris International’s dividend payout ratio is 105.47%.

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.