Future Financial Wealth Managment LLC Makes New Investment in Philip Morris International Inc. (NYSE:PM)

Future Financial Wealth Managment LLC purchased a new position in shares of Philip Morris International Inc. (NYSE:PM) in the third quarter, Holdings Channel reports. The fund purchased 1,362 shares of the company’s stock, valued at approximately $165,000.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Philip Morris International by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 136,556,344 shares of the company’s stock worth $12,511,292,000 after buying an additional 481,636 shares during the last quarter. Capital World Investors increased its holdings in shares of Philip Morris International by 1.5% during the 1st quarter. Capital World Investors now owns 111,247,656 shares of the company’s stock valued at $10,192,510,000 after purchasing an additional 1,684,992 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Philip Morris International by 3.1% during the 1st quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock valued at $5,517,085,000 after purchasing an additional 1,800,864 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Philip Morris International by 16.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock valued at $1,341,050,000 after purchasing an additional 1,856,551 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in shares of Philip Morris International by 7.4% during the 2nd quarter. First Eagle Investment Management LLC now owns 10,655,948 shares of the company’s stock valued at $1,079,767,000 after purchasing an additional 736,961 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Price Performance

Shares of NYSE:PM opened at $118.75 on Wednesday. The firm has a market capitalization of $184.60 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 2.37 and a beta of 0.55. The firm’s 50-day moving average is $120.65 and its two-hundred day moving average is $107.00. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $128.22.

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

Philip Morris International Increases Dividend

The business also recently disclosed 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 is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.55%. Philip Morris International’s payout ratio is currently 105.47%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PM shares. Stifel Nicolaus lifted their target price 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. UBS Group lifted their target price on shares of Philip Morris International from $95.00 to $105.00 and gave the company a “sell” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. One equities research 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, Philip Morris International has a consensus rating of “Moderate Buy” and an average price target of $122.41.

Insider Transactions at Philip Morris International

In other news, 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 transaction of $1,038,150.00. Following the completion of the transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of the transaction, the insider now directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of 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 disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

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.