Farther Finance Advisors LLC Purchases 5,996 Shares of Philip Morris International Inc. (NYSE:PM)

Farther Finance Advisors LLC grew its position in Philip Morris International Inc. (NYSE:PM) by 29.1% during the third quarter, HoldingsChannel.com reports. The firm owned 26,612 shares of the company’s stock after buying an additional 5,996 shares during the quarter. Farther Finance Advisors LLC’s holdings in Philip Morris International were worth $3,231,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PM. Axxcess Wealth Management LLC boosted its stake in shares of Philip Morris International by 25.4% during the 1st quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock worth $3,151,000 after buying an additional 6,974 shares during the last quarter. Duality Advisers LP increased its position in shares of Philip Morris International by 165.6% during the 1st quarter. Duality Advisers LP now owns 38,644 shares of the company’s stock worth $3,541,000 after purchasing an additional 24,093 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Philip Morris International by 17.9% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 31,591 shares of the company’s stock worth $3,203,000 after purchasing an additional 4,793 shares in the last quarter. Burke & Herbert Bank & Trust Co. boosted its holdings in shares of Philip Morris International by 68.0% in the 2nd quarter. Burke & Herbert Bank & Trust Co. now owns 20,896 shares of the company’s stock valued at $2,117,000 after buying an additional 8,455 shares during the last quarter. Finally, Gabelli Funds LLC grew its stake in shares of Philip Morris International by 2.5% in the second quarter. Gabelli Funds LLC now owns 289,350 shares of the company’s stock valued at $29,320,000 after buying an additional 7,000 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Price Performance

Shares of NYSE PM opened at $130.65 on Friday. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $134.15. The firm has a market cap of $203.14 billion, a price-to-earnings ratio of 20.74, a P/E/G ratio of 2.32 and a beta of 0.54. The stock’s fifty day moving average price is $123.70 and its two-hundred day moving average price is $111.32.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.82 by $0.09. The business had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. Philip Morris International’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.67 earnings per share. On average, equities analysts anticipate 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 paid a $1.35 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.13%. The ex-dividend date was Thursday, September 26th. Philip Morris International’s payout ratio is 85.71%.

Insiders Place Their Bets

In other news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $9,877,305.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other 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 transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total transaction of $974,850.00. Following the sale, the insider now directly owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 118,418 shares of company stock worth $15,247,052 in the last 90 days. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Bank of America increased their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Stifel Nicolaus reissued a “buy” rating and set a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Barclays raised their price objective on Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. increased their price target on Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.