Stolper Co Has $2.05 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

11 Oct 2024, 17:35 by Renee Jackson · The Cerbat Gem

Stolper Co trimmed its stake in Philip Morris International Inc. (NYSE:PM – Free Report) by 1.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,890 shares of the company’s stock after selling 183 shares during the quarter. Stolper Co’s holdings in Philip Morris International were worth $2,050,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Diversify Advisory Services LLC acquired a new stake in Philip Morris International in the first quarter worth $5,634,000. Axxcess Wealth Management LLC grew its holdings in shares of Philip Morris International by 25.4% during the first quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock valued at $3,151,000 after buying an additional 6,974 shares during the last quarter. Duality Advisers LP grew its holdings in shares of Philip Morris International by 165.6% during the first quarter. Duality Advisers LP now owns 38,644 shares of the company’s stock valued at $3,541,000 after buying an additional 24,093 shares during the last quarter. Farmers Trust Co. grew its holdings in shares of Philip Morris International by 425.3% during the first quarter. Farmers Trust Co. now owns 33,187 shares of the company’s stock valued at $3,041,000 after buying an additional 26,869 shares during the last quarter. Finally, New Mexico Educational Retirement Board grew its holdings in shares of Philip Morris International by 11.5% during the first quarter. New Mexico Educational Retirement Board now owns 90,111 shares of the company’s stock valued at $8,465,000 after buying an additional 9,300 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Stock Up 0.3 %

NYSE PM opened at $119.72 on Friday. The company’s 50 day moving average is $120.79 and its 200-day moving average is $107.18. Philip Morris International Inc. has a 12-month low of $87.23 and a 12-month high of $128.22. The firm has a market cap of $186.14 billion, a P/E ratio of 21.13, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55.

Philip Morris International (NYSE:PM – Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.02. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The company had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the previous year, the firm posted $1.60 earnings per share. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. Equities analysts expect that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 annualized dividend and a yield of 4.51%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is currently 95.58%.

Insider Activity at Philip Morris International

In related news, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the transaction, the insider now owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total value of $2,260,200.00. Following the completion of the transaction, the insider now owns 158,447 shares of the company’s stock, valued at $17,906,095.47. 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 Massimo Andolina sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction 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 represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PM. Stifel Nicolaus lifted their price objective on shares of Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Citigroup raised their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Bank of America raised their price target 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 analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Philip Morris International presently has an average rating of “Moderate Buy” and a consensus target price of $122.41.

Read Our Latest Research Report on PM

Philip Morris International Company Profile

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