Cascade Investment Group Inc. Takes Position in Philip Morris International Inc. (NYSE:PM)

Cascade Investment Group Inc. acquired a new stake in shares of Philip Morris International Inc. (NYSE:PM) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,770 shares of the company’s stock, valued at approximately $215,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PM. Diversify Advisory Services LLC bought a new position in Philip Morris International in the first quarter worth about $5,634,000. Axxcess Wealth Management LLC grew its holdings in Philip Morris International by 25.4% in the first quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock worth $3,151,000 after purchasing an additional 6,974 shares during the period. Duality Advisers LP grew its holdings in Philip Morris International by 165.6% in the first quarter. Duality Advisers LP now owns 38,644 shares of the company’s stock worth $3,541,000 after purchasing an additional 24,093 shares during the period. Farmers Trust Co. grew its holdings in Philip Morris International by 425.3% in the first quarter. Farmers Trust Co. now owns 33,187 shares of the company’s stock worth $3,041,000 after purchasing an additional 26,869 shares during the period. Finally, New Mexico Educational Retirement Board grew its holdings in Philip Morris International by 11.5% in the first quarter. New Mexico Educational Retirement Board now owns 90,111 shares of the company’s stock worth $8,465,000 after purchasing an additional 9,300 shares during the period. 78.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PM has been the topic of a number of recent research reports. Bank of America upped their price objective on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. JPMorgan Chase & Co. increased their price target on shares of 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 $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Barclays increased their price target 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, UBS Group lowered their price objective on shares of Philip Morris International from $105.00 to $103.00 and set a “sell” rating on the stock in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $123.95.

Insiders Place Their Bets

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the 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 transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Wilde Frederic De sold 20,000 shares of the firm’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 sale, the insider now directly owns 158,447 shares in the company, valued at $17,906,095.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the sale, the insider now 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 disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Philip Morris International Stock Up 0.3 %

Shares of Philip Morris International stock opened at $120.42 on Wednesday. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $128.22. The company has a market cap of $187.20 billion, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55. The company’s 50 day moving average is $121.09 and its 200 day moving average is $108.01.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same period last year, the firm earned $1.60 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. Sell-side analysts expect that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were given a $1.35 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.48%. Philip Morris International’s dividend payout ratio (DPR) is presently 105.47%.

Philip Morris International Company 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.