Essex LLC Invests $202,000 in Philip Morris International Inc. (NYSE:PM)

Essex LLC acquired a new position in Philip Morris International Inc. (NYSE:PM) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,664 shares of the company’s stock, valued at approximately $202,000.

A number of other institutional investors and hedge funds also recently modified their holdings of PM. Iron Horse Wealth Management LLC raised its position in shares of Philip Morris International by 684.4% during the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after purchasing an additional 219 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of Philip Morris International during the second quarter worth $25,000. Sachetta LLC raised its position in shares of Philip Morris International by 64.8% during the second quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after purchasing an additional 105 shares during the period. Fortitude Family Office LLC raised its position in Philip Morris International by 57.4% during 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. Finally, Olistico Wealth LLC acquired a new position in Philip Morris International during the second quarter valued at $34,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Price Performance

Shares of NYSE PM opened at $120.21 on Monday. The business’s 50-day moving average price is $121.35 and its two-hundred day moving average price is $108.62. Philip Morris International Inc. has a one year low of $87.23 and a one year high of $128.22. The company has a market capitalization of $186.87 billion, a P/E ratio of 23.48, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55.

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

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were given a dividend of $1.35 per share. The ex-dividend date was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.49%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio is presently 105.47%.

Insider Buying and Selling at Philip Morris International

In related news, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Massimo Andolina sold 9,000 shares of the company’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 completion of the transaction, the insider now directly owns 85,629 shares in the company, valued at $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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 158,447 shares in the company, valued at approximately $17,906,095.47. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on PM shares. Stifel Nicolaus upped their price target on Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Bank of America upped their price target on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft upped their price target on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Barclays upped their price target on Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Finally, JPMorgan Chase & Co. upped their price target on Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued 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 target price of $123.95.

About Philip Morris International

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.