Resonant Capital Advisors LLC Raises Stock Position in Philip Morris International Inc. (NYSE:PM)

Resonant Capital Advisors LLC lifted its stake in Philip Morris International Inc. (NYSE:PM) by 5.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,855 shares of the company’s stock after buying an additional 237 shares during the period. Resonant Capital Advisors LLC’s holdings in Philip Morris International were worth $596,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GQG Partners LLC lifted its position in Philip Morris International by 5,006.0% during the 1st quarter. GQG Partners LLC now owns 5,958,391 shares of the company’s stock worth $545,908,000 after acquiring an additional 5,841,696 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Philip Morris International by 79.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,878,158 shares of the company’s stock worth $595,634,000 after purchasing an additional 2,599,684 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Philip Morris International by 5,045.1% during the first quarter. Van ECK Associates Corp now owns 2,122,729 shares of the company’s stock worth $194,484,000 after purchasing an additional 2,081,472 shares during the period. Bank of New York Mellon Corp grew its position in Philip Morris International by 16.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock valued at $1,341,050,000 after buying an additional 1,856,551 shares during the last quarter. Finally, Capital Research Global Investors increased its stake in Philip Morris International by 3.1% in the 1st quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock valued at $5,517,085,000 after buying an additional 1,800,864 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Massimo Andolina sold 9,000 shares of the company’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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 85,629 shares in the company, valued at $9,877,305.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction dated 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PM. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Barclays boosted their price objective on shares of Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Citigroup lifted 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, October 8th. Stifel Nicolaus upped their price target on Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, UBS Group dropped their price objective on Philip Morris International from $105.00 to $103.00 and set a “sell” rating for the company in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Philip Morris International presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.95.

Philip Morris International Trading Up 0.1 %

NYSE:PM opened at $120.21 on Monday. The firm has a market cap of $186.87 billion, a price-to-earnings 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 12-month low of $87.23 and a 12-month high of $128.22. The company’s 50-day moving average is $121.35 and its two-hundred day moving average is $108.62.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. The firm had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. Philip Morris International’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.60 earnings per share. On average, equities research analysts forecast that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were issued a dividend of $1.35 per share. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.49%. The ex-dividend date was Thursday, September 26th. Philip Morris International’s dividend payout ratio is presently 105.47%.

Philip Morris International Company Profile

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.