Prudent Man Advisors LLC Has $2.10 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

18 Nov 2024, 08:14 by Renee Jackson · The Cerbat Gem

Prudent Man Advisors LLC reduced its holdings in shares of Philip Morris International Inc. (NYSE:PM – Free Report) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,304 shares of the company’s stock after selling 359 shares during the period. Philip Morris International comprises about 0.7% of Prudent Man Advisors LLC’s investment portfolio, making the stock its 24th biggest position. Prudent Man Advisors LLC’s holdings in Philip Morris International were worth $2,101,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PM. White Lighthouse Investment Management Inc. raised its holdings in shares of Philip Morris International by 71.4% in the third quarter. White Lighthouse Investment Management Inc. now owns 11,999 shares of the company’s stock valued at $1,457,000 after buying an additional 4,999 shares during the last quarter. Accredited Investors Inc. increased its position in Philip Morris International by 3,553.3% in the 3rd quarter. Accredited Investors Inc. now owns 206,959 shares of the company’s stock valued at $25,125,000 after acquiring an additional 201,294 shares in the last quarter. Axxcess Wealth Management LLC raised its stake in shares of Philip Morris International by 25.4% in the first quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock worth $3,151,000 after acquiring an additional 6,974 shares during the last quarter. Kennebec Savings Bank acquired a new position in shares of Philip Morris International during the third quarter worth approximately $692,000. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Philip Morris International by 17.9% during the second quarter. Sequoia Financial Advisors LLC now owns 31,591 shares of the company’s stock valued at $3,203,000 after purchasing an additional 4,793 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Up 0.3 %

NYSE:PM opened at $128.59 on Monday. The firm has a market capitalization of $199.94 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 2.25 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. The stock’s 50-day simple moving average is $124.30 and its 200 day simple moving average is $113.69.

Philip Morris International (NYSE:PM – Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.82 by $0.09. The business had revenue of $9.91 billion during the quarter, compared to the consensus estimate 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 was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.67 EPS. On average, analysts anticipate that Philip Morris International Inc. will post 6.51 EPS for the current fiscal 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 given a $1.35 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.20%. The ex-dividend date was Thursday, September 26th. Philip Morris International’s dividend payout ratio is 85.71%.

Analysts Set New Price Targets

A number of brokerages recently commented on PM. Citigroup lifted their price objective on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Bank of America lifted their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. 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 lifted their target price on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.50.

Read Our Latest Report on PM

Insider Activity

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chairman now owns 959,761 shares in the company, valued at $124,624,965.85. The trade was a 9.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Werner Barth sold 7,500 shares of the firm’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 completion of the transaction, the insider now owns 95,418 shares in the company, valued at $12,402,431.64. This represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Philip Morris International 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.