Sargent Investment Group LLC Boosts Stock Position in Philip Morris International Inc. (NYSE:PM)

Sargent Investment Group LLC increased its position in shares of Philip Morris International Inc. (NYSE:PM) by 2.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,886 shares of the company’s stock after buying an additional 100 shares during the quarter. Sargent Investment Group LLC’s holdings in Philip Morris International were worth $472,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Iron Horse Wealth Management LLC grew its holdings in Philip Morris International by 684.4% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after acquiring an additional 219 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in Philip Morris International in the 2nd quarter valued at about $25,000. Sachetta LLC increased its stake 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 grew its position in 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 acquiring an additional 116 shares during the period. Finally, Olistico Wealth LLC acquired a new position in shares of Philip Morris International during the 2nd quarter valued at $34,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Insiders Place Their Bets

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 sale, the chairman now directly owns 959,761 shares of the company’s stock, valued at approximately $124,624,965.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Werner Barth sold 7,500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the business’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 sale, the chairman now owns 959,761 shares in the company, valued at approximately $124,624,965.85. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PM has been the topic of several research reports. Deutsche Bank Aktiengesellschaft upped their price target on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Stifel Nicolaus restated a “buy” rating and issued a $145.00 price target (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Citigroup lifted their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. lifted their price target on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $127.85.

Philip Morris International Price Performance

NYSE:PM traded up $1.55 during midday trading on Thursday, hitting $126.79. The company’s stock had a trading volume of 1,892,945 shares, compared to its average volume of 5,376,502. The firm has a market cap of $197.14 billion, a P/E ratio of 19.88, a P/E/G ratio of 2.17 and a beta of 0.54. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $134.15. The firm’s 50 day moving average is $124.19 and its 200-day moving average is $113.11.

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 the consensus estimate of $1.82 by $0.09. The firm had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the firm posted $1.67 earnings per share. As a group, analysts forecast that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were given a dividend of $1.35 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.26%. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International’s dividend payout ratio is currently 85.71%.

About Philip Morris International

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.