Essex Savings Bank Has $442,000 Stock Position in Philip Morris International Inc. (NYSE:PM)

Essex Savings Bank decreased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 15.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,639 shares of the company’s stock after selling 657 shares during the period. Essex Savings Bank’s holdings in Philip Morris International were worth $442,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PM. White Lighthouse Investment Management Inc. raised its holdings in Philip Morris International by 71.4% during the 3rd quarter. White Lighthouse Investment Management Inc. now owns 11,999 shares of the company’s stock worth $1,457,000 after purchasing an additional 4,999 shares during the last quarter. Axxcess Wealth Management LLC increased its stake in shares of Philip Morris International by 25.4% in the 1st quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock valued at $3,151,000 after acquiring an additional 6,974 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Philip Morris International by 17.9% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 31,591 shares of the company’s stock valued at $3,203,000 after acquiring an additional 4,793 shares during the last quarter. Burke & Herbert Bank & Trust Co. increased its stake 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 acquiring an additional 8,455 shares during the last quarter. Finally, Gabelli Funds LLC increased its stake in shares of Philip Morris International by 2.5% in the 2nd quarter. Gabelli Funds LLC now owns 289,350 shares of the company’s stock valued at $29,320,000 after acquiring an additional 7,000 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Price Performance

PM stock opened at $126.24 on Friday. The stock has a market capitalization of $196.28 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 2.19 and a beta of 0.54. The business’s fifty day moving average price is $124.21 and its two-hundred day moving average price is $112.41. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $134.15.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. The company had revenue of $9.91 billion for the quarter, compared to analysts’ expectations of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. Philip Morris International’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business earned $1.67 earnings per share. Research analysts expect that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The company 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. 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 4.28%. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International’s payout ratio is 85.71%.

Insider Transactions at Philip Morris International

In other news, insider Werner Barth sold 7,500 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $12,402,431.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s stock in a transaction that occurred on 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 transaction, the chairman now directly owns 959,761 shares of the company’s stock, valued at approximately $124,624,965.85. The trade was a 0.00 % decrease in their ownership of the stock. 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 business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the transaction, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. This trade represents 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 Analyst Weigh In

PM has been the subject of several research analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. UBS Group boosted their price objective on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research report on Wednesday, October 23rd. Citigroup upped their price target on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group upped their price target on Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $127.85.

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.