Omnia Family Wealth LLC Increases Stake in Philip Morris International Inc. (NYSE:PM)

14 Nov 2024, 18:57 by Sarita Garza · The Markets Daily

Omnia Family Wealth LLC raised its stake in shares of Philip Morris International Inc. (NYSE:PM – Free Report) by 7.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,786 shares of the company’s stock after purchasing an additional 265 shares during the quarter. Omnia Family Wealth LLC’s holdings in Philip Morris International were worth $465,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PM. Iron Horse Wealth Management LLC lifted its holdings in shares of Philip Morris International by 684.4% during the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after purchasing an additional 219 shares during the period. Strategic Financial Concepts LLC acquired a new stake in Philip Morris International during the 2nd quarter valued at approximately $25,000. Sachetta LLC lifted its stake in Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after acquiring an additional 105 shares during the period. Fortitude Family Office LLC boosted its holdings in shares of Philip Morris International by 57.4% in the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after acquiring an additional 116 shares during the last quarter. Finally, Olistico Wealth LLC acquired a new stake in shares of Philip Morris International in the second quarter worth $34,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

PM has been the subject of a number of research reports. Stifel Nicolaus restated a “buy” rating and set a $145.00 target price (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Citigroup boosted their price objective on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Barclays raised their target price on Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Bank of America lifted their price target on 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, JPMorgan Chase & Co. upped their price objective on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report 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, Philip Morris International has an average rating of “Moderate Buy” and a consensus target price of $127.85.

Read Our Latest Report on PM

Insider Activity at Philip Morris International

In other news, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 95,418 shares in the company, valued at $12,402,431.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Werner Barth sold 7,500 shares of the 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 completion of the sale, the insider now directly owns 95,418 shares in the company, valued at $12,402,431.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of the transaction, the chairman now directly owns 959,761 shares in the company, valued at approximately $124,624,965.85. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Philip Morris International Stock Up 0.3 %

Shares of Philip Morris International stock traded up $0.42 on Thursday, reaching $125.66. The company’s stock had a trading volume of 1,197,353 shares, compared to its average volume of 5,373,355. The company has a market capitalization of $195.38 billion, a P/E ratio of 19.88, a PEG ratio of 2.17 and a beta of 0.54. The stock has a 50-day moving average price of $124.19 and a 200-day moving average price of $113.11. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $134.15.

Philip Morris International (NYSE:PM – Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.09. The firm 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 10.35% and a negative return on equity of 117.94%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.67 EPS. Sell-side analysts forecast that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.30%. 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%.

Philip Morris International Profile

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