Curi RMB Capital LLC Raises Stake in Philip Morris International Inc. (NYSE:PM)

Curi RMB Capital LLC raised its position in Philip Morris International Inc. (NYSE:PM) by 0.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,775 shares of the company’s stock after purchasing an additional 160 shares during the quarter. Curi RMB Capital LLC’s holdings in Philip Morris International were worth $9,685,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC grew its stake in shares of Philip Morris International by 4.9% in the first quarter. Kingsview Wealth Management LLC now owns 13,675 shares of the company’s stock valued at $1,253,000 after buying an additional 642 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its position in Philip Morris International by 27.6% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 10,595 shares of the company’s stock worth $971,000 after purchasing an additional 2,291 shares in the last quarter. Nwam LLC lifted its position in Philip Morris International by 3.8% in the 1st quarter. Nwam LLC now owns 5,159 shares of the company’s stock worth $498,000 after buying an additional 189 shares in the last quarter. 1ST Source Bank boosted its holdings in shares of Philip Morris International by 4.1% during the 1st quarter. 1ST Source Bank now owns 2,742 shares of the company’s stock worth $251,000 after buying an additional 108 shares during the period. Finally, Poehling Capital Management INC. raised its stake in Philip Morris International by 15.0% during the 1st quarter. Poehling Capital Management INC. now owns 19,332 shares of the company’s stock valued at $1,771,000 after purchasing an additional 2,528 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

Shares of PM stock opened at $128.20 on Friday. The company has a market cap of $199.33 billion, a P/E ratio of 20.35, a PEG ratio of 2.19 and a beta of 0.54. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $134.15. The stock’s 50-day moving average is $124.19 and its 200 day moving average is $113.11.

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 the consensus estimate of $1.82 by $0.09. The company had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.67 EPS. On average, analysts anticipate that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 4.21%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International’s payout ratio is presently 85.71%.

Insider Buying and Selling

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the sale, the chairman now owns 959,761 shares in the company, valued at $124,624,965.85. This represents a 9.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction 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 owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. This represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PM shares. Citigroup increased 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. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Bank of America raised 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. Barclays boosted their price objective on shares of Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Philip Morris International currently has an average rating of “Moderate Buy” and a consensus price target 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.