Hanlon Investment Management Inc. Has $711,000 Stock Position in Philip Morris International Inc. (NYSE:PM)

Hanlon Investment Management Inc. grew its position in Philip Morris International Inc. (NYSE:PM) by 128.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,854 shares of the company’s stock after purchasing an additional 3,296 shares during the period. Hanlon Investment Management Inc.’s holdings in Philip Morris International were worth $711,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PM. Iron Horse Wealth Management LLC boosted its holdings 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 purchasing an additional 219 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Philip Morris International during the 2nd quarter worth about $25,000. Sachetta LLC increased its holdings in shares of Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after acquiring an additional 105 shares during the last quarter. Fortitude Family Office LLC increased its holdings in shares of Philip Morris International by 57.4% during the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after acquiring an additional 116 shares during the last quarter. Finally, Olistico Wealth LLC bought a new position in shares of Philip Morris International in the 2nd quarter valued at approximately $34,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Philip Morris International

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was 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 directly owns 959,761 shares of the company’s stock, valued at approximately $124,624,965.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’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 sale, the chairman now directly owns 959,761 shares of the company’s stock, valued at approximately $124,624,965.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 118,418 shares of company stock valued at $15,247,052. 0.14% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on PM shares. Barclays increased their price target on Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Bank of America lifted their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. The Goldman Sachs Group upped their price target 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. 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 note on Tuesday, October 8th. Finally, UBS Group increased their target price on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Philip Morris International currently has an average rating of “Moderate Buy” and a consensus price target of $127.85.

Philip Morris International Trading Down 0.2 %

Shares of PM stock opened at $130.33 on Tuesday. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $134.15. The company has a market capitalization of $202.64 billion, a P/E ratio of 20.69, a P/E/G ratio of 2.28 and a beta of 0.54. The stock has a 50 day moving average of $123.88 and a two-hundred day moving average of $111.75.

Philip Morris International (NYSE:PM) last posted its quarterly 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 the consensus estimate of $9.68 billion. During the same quarter in the previous year, the company earned $1.67 earnings per share. The business’s revenue was up 8.4% compared to the same quarter last year. Sell-side analysts predict that Philip Morris International Inc. will post 6.51 earnings per share 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. Investors of record on Thursday, September 26th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 4.14%. The ex-dividend date was Thursday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio is 85.71%.

Philip Morris International 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.