31,160 Shares in Philip Morris International Inc. (NYSE:PM) Purchased by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC bought a new position in Philip Morris International Inc. (NYSE:PM) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 31,160 shares of the company’s stock, valued at approximately $3,783,000.

Several other hedge funds have also recently made changes to their positions in the business. Valley Wealth Managers Inc. lifted its position in shares of Philip Morris International by 457.5% during the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock worth $27,000 after purchasing an additional 183 shares during the last quarter. Iron Horse Wealth Management LLC increased 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 purchasing an additional 219 shares during the period. Sachetta LLC raised its position in 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 purchasing an additional 105 shares in the last quarter. Concord Wealth Partners increased its stake in shares of Philip Morris International by 2,709.1% during 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 during the period. Finally, Fortitude Family Office LLC raised its holdings in shares of Philip Morris International by 57.4% in 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 in the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PM has been the subject of several recent research reports. Citigroup boosted their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft lifted their price target on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. The Goldman Sachs Group upped their price objective on 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 Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Bank of America increased their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Philip Morris International has a consensus rating of “Moderate Buy” and an average price target of $131.50.

Insider Buying and Selling

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were 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 of the company’s stock, valued at approximately $12,402,431.64. This represents a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction dated 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 transaction, the chairman now owns 959,761 shares of the company’s stock, valued at $124,624,965.85. The trade was a 9.60 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Philip Morris International Trading Down 0.9 %

Shares of Philip Morris International stock opened at $129.99 on Friday. The firm’s 50 day simple moving average is $124.77 and its two-hundred day simple moving average is $114.62. The firm has a market capitalization of $202.11 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 2.27 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.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The company had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $1.67 EPS. On average, sell-side analysts predict that Philip Morris International Inc. will post 6.51 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were given a $1.35 dividend. The ex-dividend date was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.15%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio is currently 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.