Philip Morris International Inc. (NYSE:PM) Shares Acquired by Axxcess Wealth Management LLC

by · The Markets Daily

Axxcess Wealth Management LLC boosted its position in Philip Morris International Inc. (NYSE:PM – Free Report) by 16.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,377 shares of the company’s stock after buying an additional 5,846 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Philip Morris International were worth $4,902,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PM. Sei Investments Co. lifted its holdings in Philip Morris International by 12.6% in the 1st quarter. Sei Investments Co. now owns 624,982 shares of the company’s stock worth $57,261,000 after buying an additional 69,875 shares in the last quarter. Choate Investment Advisors increased its position in shares of Philip Morris International by 33.1% in the 1st quarter. Choate Investment Advisors now owns 5,364 shares of the company’s stock worth $491,000 after purchasing an additional 1,334 shares during the last quarter. Meeder Asset Management Inc. increased its position in shares of Philip Morris International by 15.4% in the 1st quarter. Meeder Asset Management Inc. now owns 3,006 shares of the company’s stock worth $275,000 after purchasing an additional 402 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Philip Morris International by 8.4% in the 1st quarter. Russell Investments Group Ltd. now owns 260,370 shares of the company’s stock worth $23,857,000 after purchasing an additional 20,108 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Philip Morris International by 0.3% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 340,810 shares of the company’s stock worth $31,225,000 after purchasing an additional 853 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Trading Up 2.0 %

Shares of NYSE:PM opened at $126.24 on Monday. The company has a 50 day moving average of $124.21 and a 200-day moving average of $112.52. The firm has a market cap of $196.28 billion, a P/E ratio of 20.04, a P/E/G ratio of 2.21 and a beta of 0.54. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15.

Philip Morris International (NYSE:PM – Get Free Report) last released its earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.82 by $0.09. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The business had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. During the same period in the prior year, the business earned $1.67 earnings per share. The business’s quarterly revenue was up 8.4% on a year-over-year basis. Equities research analysts forecast that Philip Morris International Inc. will post 6.51 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 paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 4.28%. The ex-dividend date was Thursday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio is currently 85.71%.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 95,418 shares in the company, valued at approximately $12,402,431.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related 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 transaction of $974,850.00. Following the completion of the sale, the insider now directly owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the company’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 sale, the chairman now directly owns 959,761 shares of the company’s stock, 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. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. UBS Group boosted their target price on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group boosted their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Citigroup boosted their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. boosted their price objective on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Bank of America boosted 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 investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Philip Morris International presently has a consensus rating of “Moderate Buy” and an average price target of $127.85.

Read Our Latest Stock Report on PM

Philip Morris International Company Profile

(Free Report)

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.

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