Philip Morris International Inc. (NYSE:PM) Shares Bought by Chesapeake Wealth Management

19 Nov 2024, 12:04 by Renee Jackson · The Cerbat Gem

Chesapeake Wealth Management boosted its position in shares of Philip Morris International Inc. (NYSE:PM – Free Report) by 6.1% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 4,383 shares of the company’s stock after acquiring an additional 252 shares during the quarter. Chesapeake Wealth Management’s holdings in Philip Morris International were worth $532,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC boosted its stake in shares of Philip Morris International by 684.4% in the second 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 last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Philip Morris International in the second quarter worth about $25,000. Sachetta LLC boosted its stake 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 during the last quarter. Valley Wealth Managers Inc. boosted its stake in shares of Philip Morris International by 457.5% in the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock worth $27,000 after buying an additional 183 shares during the last quarter. Finally, Fortitude Family Office LLC boosted its stake in shares of Philip Morris International by 57.4% in the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after buying an additional 116 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analyst Ratings Changes

PM has been the subject of several recent research reports. Bank of America increased their price target on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft increased their price objective 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. UBS Group raised their price target on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus restated a “buy” rating and set a $145.00 price target (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. raised their price target 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 investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.50.

Get Our Latest Research Report on Philip Morris International

Insider Buying and Selling at Philip Morris International

In other news, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total transaction of $974,850.00. Following the sale, the insider now owns 95,418 shares in the company, valued at approximately $12,402,431.64. The trade was a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction dated 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 in the company, valued at $124,624,965.85. This trade represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Philip Morris International Trading Up 2.4 %

NYSE:PM opened at $131.72 on Tuesday. The firm has a market cap of $204.80 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 2.25 and a beta of 0.54. The stock has a fifty day moving average price of $124.39 and a 200 day moving average price of $113.94. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-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 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 during the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. Philip Morris International’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business posted $1.67 earnings per share. Equities 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 paid a $1.35 dividend. The ex-dividend date was Thursday, September 26th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 4.10%. Philip Morris International’s dividend payout ratio (DPR) is currently 85.71%.

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.