Philip Morris International Inc. (NYSE:PM) Shares Acquired by Spinnaker Trust

by · The Markets Daily

Spinnaker Trust boosted its position in Philip Morris International Inc. (NYSE:PM – Free Report) by 7.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,876 shares of the company’s stock after purchasing an additional 1,100 shares during the period. Spinnaker Trust’s holdings in Philip Morris International were worth $1,927,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Axxcess Wealth Management LLC grew its position in Philip Morris International by 25.4% during the 1st quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock worth $3,151,000 after purchasing an additional 6,974 shares in the last quarter. Duality Advisers LP lifted its position in shares of Philip Morris International by 165.6% in the first quarter. Duality Advisers LP now owns 38,644 shares of the company’s stock worth $3,541,000 after purchasing an additional 24,093 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings 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 worth $3,203,000 after purchasing an additional 4,793 shares during the period. Burke & Herbert Bank & Trust Co. grew its position in Philip Morris International by 68.0% during the second quarter. Burke & Herbert Bank & Trust Co. now owns 20,896 shares of the company’s stock valued at $2,117,000 after purchasing an additional 8,455 shares in the last quarter. Finally, Gabelli Funds LLC lifted its position in Philip Morris International by 2.5% in the 2nd quarter. Gabelli Funds LLC now owns 289,350 shares of the company’s stock worth $29,320,000 after buying an additional 7,000 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Insider Transactions at Philip Morris International

In other news, insider Massimo Andolina sold 9,000 shares of Philip Morris International 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 sale, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction dated 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the sale, the insider now directly owns 95,418 shares in the company, valued at $12,402,431.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 118,418 shares of company stock worth $15,247,052. Corporate insiders own 0.14% of the company’s stock.

Philip Morris International Price Performance

Shares of PM traded down $4.61 on Wednesday, reaching $127.58. 1,847,969 shares of the stock traded hands, compared to its average volume of 5,335,599. The firm has a market cap of $198.37 billion, a price-to-earnings ratio of 20.98, a P/E/G ratio of 2.28 and a beta of 0.54. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $134.15. The stock’s 50-day moving average price is $124.07 and its 200-day moving average price is $112.02.

Philip Morris International (NYSE:PM – Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 EPS 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 company had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. During the same period last year, the firm earned $1.67 EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities research analysts forecast that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were paid a $1.35 dividend. 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 4.23%. Philip Morris International’s payout ratio is currently 85.71%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Barclays boosted their target price on Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Bank of America upped their price target on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. The Goldman Sachs Group boosted 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 note on Thursday, September 26th. JPMorgan Chase & Co. lifted their target price on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $127.85.

Read Our Latest Report on PM

About Philip Morris International

(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.

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