Andre Calantzopoulos Sells 101,918 Shares of Philip Morris International Inc. (NYSE:PM) Stock

Philip Morris International Inc. (NYSE:PM) Chairman Andre Calantzopoulos sold 101,918 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total value of $13,234,052.30. Following the completion of the transaction, the chairman now owns 959,761 shares in the company, valued at $124,624,965.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Philip Morris International Price Performance

Philip Morris International stock opened at $129.86 on Friday. Philip Morris International Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $133.27. The firm has a fifty day moving average price of $122.50 and a two-hundred day moving average price of $109.84. The firm has a market cap of $201.87 billion, a price-to-earnings ratio of 25.36, a P/E/G ratio of 2.57 and a beta of 0.55.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.09. The business had revenue of $9.91 billion during the quarter, compared to analysts’ expectations of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 12.10%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.67 EPS. As a group, sell-side analysts expect 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 was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were paid a $1.35 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.16%. Philip Morris International’s dividend payout ratio (DPR) is presently 105.47%.

Hedge Funds Weigh In On Philip Morris International

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cornerstone Wealth Group LLC increased its holdings in shares of Philip Morris International by 450.4% during the 3rd quarter. Cornerstone Wealth Group LLC now owns 38,606 shares of the company’s stock worth $4,687,000 after purchasing an additional 31,592 shares during the period. Oak Harvest Investment Services acquired a new stake in Philip Morris International during the third quarter worth about $208,000. JFS Wealth Advisors LLC grew its position in Philip Morris International by 43.0% during the third quarter. JFS Wealth Advisors LLC now owns 4,605 shares of the company’s stock worth $559,000 after buying an additional 1,385 shares in the last quarter. SteelPeak Wealth LLC increased its stake in Philip Morris International by 556.0% during the third quarter. SteelPeak Wealth LLC now owns 72,038 shares of the company’s stock valued at $8,843,000 after acquiring an additional 61,057 shares during the period. Finally, Pinnacle Associates Ltd. raised its holdings in Philip Morris International by 3.9% in the 3rd quarter. Pinnacle Associates Ltd. now owns 55,986 shares of the company’s stock valued at $6,797,000 after acquiring an additional 2,101 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

PM has been the subject of several research reports. The Goldman Sachs Group lifted their price target on Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Bank of America boosted their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. raised their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday. Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a report on Wednesday. Finally, StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $126.85.

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.