3Chopt Investment Partners LLC Buys 476 Shares of Philip Morris International Inc. (NYSE:PM)

3Chopt Investment Partners LLC lifted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 1.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 35,588 shares of the company’s stock after acquiring an additional 476 shares during the period. Philip Morris International makes up about 1.1% of 3Chopt Investment Partners LLC’s holdings, making the stock its 15th largest holding. 3Chopt Investment Partners LLC’s holdings in Philip Morris International were worth $3,652,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Iron Horse Wealth Management LLC boosted its stake in Philip Morris International by 684.4% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after purchasing an additional 219 shares during the period. Strategic Financial Concepts LLC bought a new position in Philip Morris International during the second quarter worth $25,000. Sachetta LLC raised its stake 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 purchasing an additional 105 shares during the last quarter. Boyd Watterson Asset Management LLC OH grew its position in Philip Morris International by 250.0% in the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock worth $30,000 after purchasing an additional 230 shares during the last quarter. Finally, Fortitude Family Office LLC lifted its stake in shares of Philip Morris International by 57.4% in the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after buying an additional 116 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PM. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Bank of America raised their price objective 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. UBS Group upped their target price on shares of Philip Morris International from $95.00 to $105.00 and gave the company a “sell” rating in a research note on Monday, September 9th. Barclays raised their price target on shares of Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Finally, The Goldman Sachs Group upped their price objective on Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $119.14.

Philip Morris International Stock Performance

Shares of PM opened at $121.39 on Tuesday. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $128.22. The company has a market cap of $188.71 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 2.37 and a beta of 0.55. The stock has a fifty day moving average price of $119.88 and a two-hundred day moving average price of $105.92.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The firm had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the prior year, the firm earned $1.60 EPS. The company’s revenue was up 5.6% on a year-over-year basis. As a group, research analysts predict that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th will be given a dividend of $1.35 per share. The ex-dividend date is Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.45%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is presently 105.47%.

Insider Activity at Philip Morris International

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $113.01, for a total value of $2,260,200.00. Following the transaction, the insider now owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the transaction, the insider now owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

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.