Alaethes Wealth LLC Takes $1.44 Million Position in Philip Morris International Inc. (NYSE:PM)

Alaethes Wealth LLC bought a new stake in Philip Morris International Inc. (NYSE:PM) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 14,077 shares of the company’s stock, valued at approximately $1,444,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Gilbert & Cook Inc. increased its position in shares of Philip Morris International by 3.8% in the 4th quarter. Gilbert & Cook Inc. now owns 10,946 shares of the company’s stock valued at $1,030,000 after purchasing an additional 404 shares during the last quarter. Clearbridge Investments LLC acquired a new position in shares of Philip Morris International during the fourth quarter worth $460,000. Tidemark LLC purchased a new position in Philip Morris International in the fourth quarter valued at $61,000. FineMark National Bank & Trust raised its stake in Philip Morris International by 1.3% in the fourth quarter. FineMark National Bank & Trust now owns 33,351 shares of the company’s stock valued at $3,138,000 after buying an additional 413 shares in the last quarter. Finally, SageView Advisory Group LLC raised its stake in Philip Morris International by 64.7% in the fourth quarter. SageView Advisory Group LLC now owns 24,260 shares of the company’s stock valued at $2,226,000 after buying an additional 9,528 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Philip Morris International

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

Wall Street Analyst Weigh In

PM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price objective on Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Stifel Nicolaus raised their price objective on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Barclays upped their target price on shares of Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Finally, StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $117.05.

Philip Morris International Price Performance

Shares of Philip Morris International stock opened at $120.79 on Friday. The stock has a market capitalization of $187.77 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 2.45 and a beta of 0.55. The firm’s fifty day simple moving average is $118.17 and its 200-day simple moving average is $104.57. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $128.22.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, beating 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 company had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period in the previous year, the business posted $1.60 earnings per share. Philip Morris International’s quarterly revenue was up 5.6% on a year-over-year basis. Analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.47%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date is Thursday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is presently 105.47%.

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.