Philip Morris International Inc. (NYSE:PM) Shares Purchased by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC raised its stake in Philip Morris International Inc. (NYSE:PM) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,274 shares of the company’s stock after purchasing an additional 148 shares during the quarter. Philip Morris International comprises approximately 1.1% of Oliver Luxxe Assets LLC’s holdings, making the stock its 22nd biggest holding. Oliver Luxxe Assets LLC’s holdings in Philip Morris International were worth $6,171,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PM. Strategic Financial Concepts LLC acquired a new position in Philip Morris International during the second quarter valued at approximately $25,000. Sachetta LLC increased its holdings in Philip Morris International by 64.8% in the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after purchasing an additional 105 shares in the last quarter. Valley Wealth Managers Inc. raised its position in Philip Morris International by 457.5% in the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock valued at $27,000 after purchasing an additional 183 shares during the period. Dunhill Financial LLC grew its stake in shares of Philip Morris International by 203.8% in the third quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock valued at $29,000 after buying an additional 161 shares in the last quarter. Finally, Concord Wealth Partners raised its holdings in shares of Philip Morris International by 2,709.1% during the 3rd quarter. Concord Wealth Partners now owns 309 shares of the company’s stock valued at $38,000 after buying an additional 298 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Citigroup increased their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. lifted 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. 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. Deutsche Bank Aktiengesellschaft lifted their target price on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Finally, UBS Group increased their price target on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Philip Morris International presently has a consensus rating of “Moderate Buy” and an average price target of $131.50.

Insider Activity at Philip Morris International

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

Philip Morris International Price Performance

NYSE:PM traded down $1.21 during midday trading on Monday, reaching $120.81. 2,523,770 shares of the company traded hands, compared to its average volume of 3,013,802. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15. The company has a fifty day moving average price of $127.42 and a 200 day moving average price of $120.16. The firm has a market capitalization of $187.84 billion, a price-to-earnings ratio of 19.18, a price-to-earnings-growth ratio of 2.22 and a beta of 0.54.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share (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 the consensus estimate of $9.68 billion. During the same period in the previous year, the firm posted $1.67 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. On average, equities research analysts forecast that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, December 26th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date is Thursday, December 26th. Philip Morris International’s dividend payout ratio is currently 85.71%.

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.