SteelPeak Wealth LLC Boosts Holdings in Philip Morris International Inc. (NYSE:PM)

SteelPeak Wealth LLC lifted its position in shares of Philip Morris International Inc. (NYSE:PM) by 556.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,038 shares of the company’s stock after purchasing an additional 61,057 shares during the quarter. SteelPeak Wealth LLC’s holdings in Philip Morris International were worth $8,843,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of PM. Iron Horse Wealth Management LLC lifted 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 valued at $25,000 after acquiring an additional 219 shares during the period. Strategic Financial Concepts LLC purchased a new stake in Philip Morris International during the 2nd quarter valued at approximately $25,000. Sachetta LLC lifted its holdings in shares of Philip Morris International by 64.8% in the second quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after buying an additional 105 shares in the last quarter. Fortitude Family Office LLC boosted 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 acquiring an additional 116 shares during the last quarter. Finally, Olistico Wealth LLC purchased a new position in Philip Morris International during the second quarter valued at $34,000. Institutional investors own 78.63% of the company’s stock.

Insider Transactions at Philip Morris International

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 85,629 shares in the company, valued at $9,877,305.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Werner Barth sold 7,500 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was 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 directly owns 95,418 shares of the company’s stock, valued at approximately $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. Over the last quarter, insiders sold 118,418 shares of company stock worth $15,247,052. Company insiders own 0.14% of the company’s stock.

Philip Morris International Stock Performance

Shares of PM stock traded up $0.24 during trading hours on Wednesday, reaching $131.81. The company had a trading volume of 1,096,201 shares, compared to its average volume of 5,348,891. The stock has a fifty day moving average of $122.99 and a 200-day moving average of $110.58. The company has a market capitalization of $204.94 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 2.57 and a beta of 0.55. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $133.27.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results 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. The business had revenue of $9.91 billion for the quarter, compared to analysts’ expectations of $9.68 billion. Philip Morris International had a net margin of 12.10% and a negative return on equity of 117.94%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.67 earnings per share. On average, analysts forecast that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.10%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is presently 85.71%.

Wall Street Analyst Weigh In

PM has been the subject of several research reports. The Goldman Sachs Group increased their price objective on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, September 26th. UBS Group upped their target price on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a report on Wednesday, October 23rd. Citigroup boosted their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Bank of America increased 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. Finally, Stifel Nicolaus restated a “buy” rating and issued a $145.00 price objective (up 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, three have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Philip Morris International presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.85.

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.