Sequoia Financial Advisors LLC Raises Holdings in Philip Morris International Inc. (NYSE:PM)

Sequoia Financial Advisors LLC grew its position in shares of Philip Morris International Inc. (NYSE:PM) by 14.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,196 shares of the company’s stock after purchasing an additional 4,605 shares during the period. Sequoia Financial Advisors LLC’s holdings in Philip Morris International were worth $4,394,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Diversify Advisory Services LLC purchased a new position in shares of Philip Morris International during the first quarter valued at about $5,634,000. Axxcess Wealth Management LLC grew its position in shares of Philip Morris International by 25.4% during the first quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock valued at $3,151,000 after purchasing an additional 6,974 shares in the last quarter. Duality Advisers LP lifted its holdings in shares of Philip Morris International by 165.6% in the 1st quarter. Duality Advisers LP now owns 38,644 shares of the company’s stock valued at $3,541,000 after acquiring an additional 24,093 shares during the last quarter. New Mexico Educational Retirement Board lifted its holdings in shares of Philip Morris International by 11.5% in the 1st quarter. New Mexico Educational Retirement Board now owns 90,111 shares of the company’s stock valued at $8,465,000 after acquiring an additional 9,300 shares during the last quarter. Finally, BKM Wealth Management LLC lifted its holdings in shares of Philip Morris International by 69.6% in the 1st quarter. BKM Wealth Management LLC now owns 2,970 shares of the company’s stock valued at $272,000 after acquiring an additional 1,219 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

Philip Morris International stock opened at $131.42 on Wednesday. The company has a 50 day moving average price of $121.68 and a 200-day moving average price of $109.12. Philip Morris International Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $131.97. The company has a market capitalization of $204.30 billion, a PE ratio of 25.67, a P/E/G ratio of 2.35 and a beta of 0.55.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the previous year, the firm posted $1.60 earnings per share. The company’s revenue was up 5.6% on a year-over-year basis. On average, analysts forecast that Philip Morris International Inc. will post 6.45 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.11%. The ex-dividend date was Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is currently 105.47%.

Insider Activity at Philip Morris International

In related news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction that occurred on 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 of the company’s stock, valued at $9,877,305.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction that occurred on 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 of the company’s stock, valued at $9,877,305.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the transaction, the insider now directly owns 158,447 shares in the company, valued at approximately $17,906,095.47. The trade was a 0.00 % 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 corporate insiders.

Wall Street Analyst Weigh In

PM has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price target on shares of Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Citigroup increased their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. The Goldman Sachs Group increased their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Stifel Nicolaus increased their price target on shares of Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, UBS Group decreased their price objective on shares of Philip Morris International from $105.00 to $103.00 and set a “sell” rating for the company in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Philip Morris International currently has an average rating of “Moderate Buy” and a consensus target price of $123.95.

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.