Great Valley Advisor Group Inc. Has $2.36 Million Stock Position in Philip Morris International Inc. (NYSE:PM)

Great Valley Advisor Group Inc. increased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 34.2% in the third quarter, Holdings Channel reports. The firm owned 19,454 shares of the company’s stock after buying an additional 4,958 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Philip Morris International were worth $2,362,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PM. Silvercrest Asset Management Group LLC grew its stake in shares of Philip Morris International by 4.1% during the first quarter. Silvercrest Asset Management Group LLC now owns 58,070 shares of the company’s stock worth $5,320,000 after purchasing an additional 2,303 shares during the period. Waverly Advisors LLC lifted its holdings in Philip Morris International by 170.9% during the first quarter. Waverly Advisors LLC now owns 22,001 shares of the company’s stock worth $2,016,000 after acquiring an additional 13,879 shares in the last quarter. Industrial Alliance Investment Management Inc. lifted its holdings in Philip Morris International by 4.4% during the first quarter. Industrial Alliance Investment Management Inc. now owns 2,673 shares of the company’s stock worth $245,000 after acquiring an additional 112 shares in the last quarter. Whalerock Point Partners LLC lifted its holdings in Philip Morris International by 1.9% during the first quarter. Whalerock Point Partners LLC now owns 10,616 shares of the company’s stock worth $973,000 after acquiring an additional 200 shares in the last quarter. Finally, Sweeney & Michel LLC bought a new position in Philip Morris International during the first quarter worth about $308,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Trading Down 0.9 %

Philip Morris International stock opened at $129.99 on Monday. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $134.15. The business’s 50 day simple moving average is $124.77 and its 200 day simple moving average is $114.85. The company has a market cap of $202.11 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 2.30 and a beta of 0.54.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, beating the consensus estimate 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 business had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. During the same quarter in the prior year, the business earned $1.67 earnings per share. Philip Morris International’s revenue for the quarter was up 8.4% on a year-over-year basis. 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 company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were issued a $1.35 dividend. The ex-dividend date was Thursday, September 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.15%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio is presently 85.71%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PM shares. Citigroup upped their target price on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft boosted their price target on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Barclays boosted their price target on Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. UBS Group upped their target price on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. boosted their price target 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.50.

Insider Transactions at Philip Morris International

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the company’s stock in a transaction 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 directly owns 959,761 shares in the company, valued at approximately $124,624,965.85. The trade was a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were 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 of the company’s stock, valued at approximately $12,402,431.64. The trade was 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 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.