Primoris Wealth Advisors LLC Boosts Stake in Philip Morris International Inc. (NYSE:PM)

Primoris Wealth Advisors LLC grew its stake in Philip Morris International Inc. (NYSE:PM) by 69.9% in the third quarter, Holdings Channel reports. The fund owned 22,963 shares of the company’s stock after purchasing an additional 9,450 shares during the period. Philip Morris International accounts for about 2.0% of Primoris Wealth Advisors LLC’s portfolio, making the stock its 16th largest holding. Primoris Wealth Advisors LLC’s holdings in Philip Morris International were worth $2,818,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PM. Iron Horse Wealth Management LLC increased its stake in Philip Morris International by 684.4% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after buying an additional 219 shares during the period. Strategic Financial Concepts LLC acquired a new position in Philip Morris International in the second quarter valued at approximately $25,000. Sachetta LLC grew its position in shares of 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 buying an additional 105 shares during the last quarter. Fortitude Family Office LLC increased its position in shares of Philip Morris International by 57.4% during the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after purchasing an additional 116 shares in the last quarter. Finally, Olistico Wealth LLC purchased a new stake in Philip Morris International in the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Performance

PM stock traded up $2.46 during trading on Friday, reaching $126.24. 6,365,289 shares of the company were exchanged, compared to its average volume of 5,293,789. The stock’s 50 day moving average price is $124.21 and its 200 day moving average price is $112.41. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $134.15. The company has a market cap of $196.28 billion, a P/E ratio of 20.04, a PEG ratio of 2.19 and a beta of 0.54.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. The business had revenue of $9.91 billion for the quarter, compared to analysts’ expectations of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.67 EPS. As a group, equities research analysts forecast that Philip Morris International Inc. will post 6.51 EPS for the current 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 issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.28%. 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. Philip Morris International’s dividend payout ratio is 85.71%.

Analyst Ratings Changes

A number of brokerages recently weighed in on PM. Stifel Nicolaus reiterated a “buy” rating and set a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft upped their price objective on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Citigroup upped their price target on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Bank of America lifted their price objective on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.85.

Insider Transactions at Philip Morris International

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’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 transaction, the chairman now owns 959,761 shares of the company’s stock, valued at approximately $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 accessible through this link. In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s stock in a transaction that occurred 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 sale, the chairman now owns 959,761 shares in the company, valued at approximately $124,624,965.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Werner Barth sold 7,500 shares of the business’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 of the company’s stock, valued at $12,402,431.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Philip Morris International 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.