Philip Morris International Inc. (NYSE:PM) Shares Acquired by Accredited Investors Inc.

Accredited Investors Inc. increased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 3,553.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 206,959 shares of the company’s stock after purchasing an additional 201,294 shares during the period. Philip Morris International makes up approximately 0.6% of Accredited Investors Inc.’s investment portfolio, making the stock its 22nd largest position. Accredited Investors Inc.’s holdings in Philip Morris International were worth $25,125,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Iron Horse Wealth Management LLC grew its holdings in shares of Philip Morris International by 684.4% in the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after purchasing an additional 219 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Philip Morris International in the second quarter worth $25,000. Sachetta LLC increased 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 acquiring an additional 105 shares during the period. Fortitude Family Office LLC raised its stake in shares of Philip Morris International by 57.4% in the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after acquiring an additional 116 shares in the last quarter. Finally, Olistico Wealth LLC purchased a new position in Philip Morris International in the second quarter valued at $34,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now owns 959,761 shares of the company’s stock, valued at $124,624,965.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on PM shares. Citigroup increased their price target on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Barclays raised their target price on shares of Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Stifel Nicolaus reissued a “buy” rating and issued a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $127.85.

Philip Morris International Price Performance

Shares of PM traded down $0.13 during midday trading on Tuesday, reaching $124.82. 565,880 shares of the stock were exchanged, compared to its average volume of 5,379,483. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15. The company has a market capitalization of $194.07 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 2.21 and a beta of 0.54. The business’s 50-day moving average price is $124.24 and its 200 day moving average price is $112.81.

Philip Morris International (NYSE:PM) last released its quarterly 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. The company had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.67 earnings per share. As a group, equities research analysts expect that Philip Morris International Inc. will post 6.51 earnings per share 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. Investors of record on Thursday, September 26th were given 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 yield of 4.33%. Philip Morris International’s dividend payout ratio is 85.71%.

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.