LRI Investments LLC Boosts Holdings in Philip Morris International Inc. (NYSE:PM)

LRI Investments LLC lifted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 11.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,990 shares of the company’s stock after acquiring an additional 703 shares during the quarter. LRI Investments LLC’s holdings in Philip Morris International were worth $896,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC increased 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 valued at $25,000 after acquiring an additional 219 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Philip Morris International in the second quarter worth about $25,000. Sachetta LLC grew its holdings in Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after buying an additional 105 shares in the last quarter. Valley Wealth Managers Inc. grew its holdings in Philip Morris International by 457.5% during the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock valued at $27,000 after buying an additional 183 shares in the last quarter. Finally, Dunhill Financial LLC raised its holdings in shares of Philip Morris International by 203.8% during the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock worth $29,000 after acquiring an additional 161 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Trading Down 1.5 %

NYSE PM opened at $130.56 on Monday. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $134.15. The company’s 50-day moving average price is $126.72 and its 200-day moving average price is $117.06. The stock has a market cap of $203.00 billion, a PE ratio of 20.72, a PEG ratio of 2.29 and a beta of 0.53.

Philip Morris International (NYSE:PM) last issued its 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. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The business had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.68 billion. During the same period last year, the company posted $1.67 earnings per share. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were issued a $1.35 dividend. The ex-dividend date was Thursday, September 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.14%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is currently 85.71%.

Insider Transactions at Philip Morris International

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the sale, the insider now owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. This trade represents a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction that occurred 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 transaction, the chairman now directly owns 959,761 shares of the company’s stock, valued at $124,624,965.85. The trade was a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on PM. The Goldman Sachs Group upped their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Citigroup upped their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price objective on Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, UBS Group raised their price objective on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.50.

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.