Turtle Creek Wealth Advisors LLC Takes $250,000 Position in Philip Morris International Inc. (NYSE:PM)

Turtle Creek Wealth Advisors LLC bought a new position in shares of Philip Morris International Inc. (NYSE:PM) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 2,060 shares of the company’s stock, valued at approximately $250,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Kingsview Wealth Management LLC boosted its position in Philip Morris International by 4.9% during the first quarter. Kingsview Wealth Management LLC now owns 13,675 shares of the company’s stock valued at $1,253,000 after acquiring an additional 642 shares during the last quarter. Nwam LLC lifted its holdings in shares of Philip Morris International by 3.8% in the first quarter. Nwam LLC now owns 5,159 shares of the company’s stock valued at $498,000 after purchasing an additional 189 shares in the last quarter. Patten & Patten Inc. TN grew its stake in shares of Philip Morris International by 4.8% in the 1st quarter. Patten & Patten Inc. TN now owns 8,351 shares of the company’s stock worth $765,000 after acquiring an additional 385 shares in the last quarter. Edgestream Partners L.P. grew its stake in shares of Philip Morris International by 406.3% in the 1st quarter. Edgestream Partners L.P. now owns 66,372 shares of the company’s stock worth $6,081,000 after acquiring an additional 53,262 shares in the last quarter. Finally, Jacobi Capital Management LLC raised its holdings in shares of Philip Morris International by 0.7% in the first quarter. Jacobi Capital Management LLC now owns 16,427 shares of the company’s stock valued at $1,505,000 after purchasing an additional 117 shares during the last quarter. 78.63% of the stock is owned by institutional investors.

Insider Buying and Selling at Philip Morris International

In related news, insider Werner Barth sold 7,500 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the transaction, the insider now owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. This trade represents a 7.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the sale, the chairman now directly owns 959,761 shares of the company’s stock, valued at $124,624,965.85. This represents a 9.60 % 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 company insiders.

Philip Morris International Price Performance

NYSE:PM traded up $0.39 during trading hours on Friday, hitting $128.59. The stock had a trading volume of 9,066,012 shares, compared to its average volume of 5,415,458. The company has a 50 day simple moving average of $124.30 and a two-hundred day simple moving average of $113.44. The firm has a market capitalization of $199.94 billion, a price-to-earnings ratio of 20.41, a P/E/G ratio of 2.19 and a beta of 0.54. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $134.15.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.82 by $0.09. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The business had revenue of $9.91 billion during the quarter, compared to analysts’ expectations of $9.68 billion. During the same period in the previous year, the business earned $1.67 earnings per share. The firm’s revenue was up 8.4% on a year-over-year basis. Equities research analysts anticipate that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors 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. This represents a $5.40 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is currently 85.71%.

Analysts Set New Price Targets

PM has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price objective on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft upped their target price on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Stifel Nicolaus reissued a “buy” rating and issued a $145.00 price target (up from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Barclays raised their price objective on shares of Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.85.

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.