Philip Morris International Inc. (NYSE:PM) Shares Bought by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. lifted its position in shares of Philip Morris International Inc. (NYSE:PM) by 1.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,281 shares of the company’s stock after buying an additional 368 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Philip Morris International were worth $3,555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PM. Bank of New York Mellon Corp lifted its position in Philip Morris International by 16.3% in the second quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock valued at $1,341,050,000 after buying an additional 1,856,551 shares during the last quarter. First Eagle Investment Management LLC raised its stake in shares of Philip Morris International by 7.4% in the 2nd quarter. First Eagle Investment Management LLC now owns 10,655,948 shares of the company’s stock valued at $1,079,767,000 after acquiring an additional 736,961 shares during the period. Legal & General Group Plc lifted its holdings in shares of Philip Morris International by 4.7% in the 2nd quarter. Legal & General Group Plc now owns 10,430,837 shares of the company’s stock worth $1,056,957,000 after acquiring an additional 469,806 shares during the last quarter. Ninety One UK Ltd boosted its position in shares of Philip Morris International by 0.9% during the 2nd quarter. Ninety One UK Ltd now owns 9,467,759 shares of the company’s stock worth $959,368,000 after purchasing an additional 86,667 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Philip Morris International by 57.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock worth $1,121,932,000 after purchasing an additional 3,363,454 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Barclays boosted their target price on Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Bank of America boosted their price objective on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Citigroup raised their target price on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. boosted their price target 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. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $145.00 price objective (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and a consensus target price of $131.50.

Philip Morris International Stock Performance

PM stock opened at $129.99 on Friday. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $134.15. The company’s 50 day moving average price is $124.77 and its 200 day moving average price is $114.74. The firm has a market capitalization of $202.11 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 2.30 and a beta of 0.54.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.09. The business had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The company’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the business earned $1.67 EPS. Equities analysts forecast that Philip Morris International Inc. will post 6.51 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were given a dividend of $1.35 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International’s dividend payout ratio is currently 85.71%.

Insider Activity

In other news, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the transaction, the insider now owns 95,418 shares in the company, valued at approximately $12,402,431.64. This represents a 7.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the transaction, the chairman now directly owns 959,761 shares in the company, valued at $124,624,965.85. This trade represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

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.