Crew Capital Management Ltd. Makes New Investment in Philip Morris International Inc. (NYSE:PM)

21 Oct 2024, 16:50 by Michael Walen · The Markets Daily

Crew Capital Management Ltd. bought a new position in Philip Morris International Inc. (NYSE:PM – Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,876 shares of the company’s stock, valued at approximately $228,000.

Several other large investors have also recently added to or reduced their stakes in PM. Iron Horse Wealth Management LLC increased its position in 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 period. Strategic Financial Concepts LLC acquired a new position in shares of Philip Morris International during the second quarter valued at $25,000. Sachetta LLC increased its holdings in shares of Philip Morris International by 64.8% during the second quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after purchasing an additional 105 shares during the period. Fortitude Family Office LLC increased its holdings in shares of Philip Morris International by 57.4% during the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after purchasing an additional 116 shares during the period. Finally, Olistico Wealth LLC acquired a new position in shares of Philip Morris International during the second quarter valued at $34,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. The Goldman Sachs Group raised their price target on Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, September 26th. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft raised their price target on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Stifel Nicolaus raised their target price on Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, Citigroup raised their target price on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Philip Morris International presently has an average rating of “Moderate Buy” and an average price target of $123.95.

View Our Latest Stock Analysis on Philip Morris International

Philip Morris International Price Performance

Philip Morris International stock traded down $1.14 during mid-day trading on Monday, hitting $119.07. The company’s stock had a trading volume of 767,689 shares, compared to its average volume of 5,298,744. The firm’s 50 day moving average is $121.35 and its 200 day moving average is $108.62. The company has a market cap of $185.10 billion, a PE ratio of 23.48, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $128.22.

Philip Morris International (NYSE:PM – Get Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.02. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The firm had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the prior year, the business earned $1.60 EPS. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, analysts forecast that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were paid a dividend of $1.35 per share. The ex-dividend date was Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.54%. Philip Morris International’s dividend payout ratio (DPR) is 105.47%.

Insider Transactions at Philip Morris International

In other news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of the sale, the insider now directly owns 158,447 shares of the company’s stock, valued at $17,906,095.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Massimo Andolina sold 9,000 shares of the firm’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 value of $1,038,150.00. Following the transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Wilde Frederic De sold 20,000 shares of the firm’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 directly owns 158,447 shares in the company, valued at $17,906,095.47. The trade was 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.

Philip Morris International Profile

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