Douglas Lane & Associates LLC Purchases 830 Shares of Philip Morris International Inc. (NYSE:PM)

Douglas Lane & Associates LLC grew its position in shares of Philip Morris International Inc. (NYSE:PM) by 16.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 5,947 shares of the company’s stock after buying an additional 830 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Philip Morris International were worth $716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of PM. Valley Wealth Managers Inc. grew 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 valued at $27,000 after acquiring an additional 183 shares in the last quarter. Dunhill Financial LLC grew its position in shares of Philip Morris International by 203.8% during the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock worth $29,000 after purchasing an additional 161 shares in the last quarter. 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 worth $27,000 after purchasing an additional 105 shares during the period. Concord Wealth Partners raised its position in shares of Philip Morris International by 2,709.1% in the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock valued at $38,000 after buying an additional 298 shares in the last quarter. Finally, Darwin Wealth Management LLC bought a new stake in shares of Philip Morris International in the third quarter valued at approximately $54,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on PM shares. UBS Group raised their price objective on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. The Goldman Sachs Group upped their price objective on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Barclays decreased their target price on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Citigroup upped their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.39.

Insider Activity

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total value of $13,234,052.30. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction that occurred on 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. This represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Philip Morris International Trading Up 0.4 %

Shares of Philip Morris International stock opened at $121.85 on Thursday. The firm has a market capitalization of $189.46 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 2.22 and a beta of 0.54. The firm’s 50 day moving average is $126.82 and its 200 day moving average is $120.46. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $134.15.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The firm had revenue of $9.91 billion for the quarter, compared to analysts’ expectations of $9.68 billion. During the same quarter in the previous year, the firm posted $1.67 earnings per share. The company’s revenue was up 8.4% on a year-over-year basis. As a group, research analysts anticipate that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, December 26th will be given a $1.35 dividend. The ex-dividend date of this dividend is Thursday, December 26th. This represents a $5.40 annualized dividend and a yield of 4.43%. Philip Morris International’s dividend payout ratio is presently 85.71%.

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.