UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $650.12 Million Holdings in Philip Morris International Inc. (NYSE:PM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Philip Morris International Inc. (NYSE:PM) by 3.3% in the 3rd quarter, Holdings Channel reports. The firm owned 5,355,156 shares of the company’s stock after buying an additional 173,229 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Philip Morris International were worth $650,116,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PM. Iron Horse Wealth Management LLC raised its holdings in Philip Morris International by 684.4% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after acquiring an additional 219 shares during the period. Strategic Financial Concepts LLC bought a new position in Philip Morris International in the 2nd quarter worth $25,000. Sachetta LLC raised its holdings in Philip Morris International by 64.8% in the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after acquiring an additional 105 shares during the period. Valley Wealth Managers Inc. raised its holdings in Philip Morris International by 457.5% in the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock worth $27,000 after acquiring an additional 183 shares during the period. Finally, Fortitude Family Office LLC raised its holdings in Philip Morris International by 57.4% in the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after acquiring an additional 116 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

PM has been the topic of several recent analyst reports. UBS Group lifted their target price on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Bank of America lifted their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. JPMorgan Chase & Co. lifted their target price on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group boosted their price objective on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $131.50.

Insider Activity at Philip Morris International

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were 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 in the company, valued at $124,624,965.85. The trade was a 9.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Werner Barth sold 7,500 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the completion of the transaction, the insider now owns 95,418 shares in the company, valued at approximately $12,402,431.64. This trade represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Philip Morris International Stock Performance

NYSE:PM opened at $131.82 on Thursday. The company has a market cap of $204.96 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 2.29 and a beta of 0.54. The firm’s 50-day moving average is $125.26 and its 200-day moving average is $115.42. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $134.15.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.09. The business had revenue of $9.91 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.67 earnings per share. Equities analysts predict that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were paid a $1.35 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.10%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is presently 85.71%.

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.