SouthState Corp Has $2.38 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

SouthState Corp trimmed its stake in shares of Philip Morris International Inc. (NYSE:PM) by 0.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,613 shares of the company’s stock after selling 83 shares during the quarter. SouthState Corp’s holdings in Philip Morris International were worth $2,381,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of PM. Iron Horse Wealth Management LLC lifted 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 valued at $25,000 after purchasing an additional 219 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in Philip Morris International during the 2nd quarter worth approximately $25,000. Sachetta LLC increased its holdings 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. Valley Wealth Managers Inc. raised its position in Philip Morris International by 457.5% in the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock valued at $27,000 after purchasing an additional 183 shares during the last quarter. Finally, Fortitude Family Office LLC boosted its stake in Philip Morris International by 57.4% in the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after purchasing an additional 116 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PM has been the subject of a number of research reports. Barclays raised 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. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. increased their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. 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 report on Thursday, September 26th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $145.00 target price (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $131.50.

Philip Morris International Stock Up 2.4 %

Philip Morris International stock opened at $131.72 on Tuesday. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15. The company has a 50 day moving average of $124.39 and a 200-day moving average of $113.94. The stock has a market capitalization of $204.80 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 2.25 and a beta of 0.54.

Philip Morris International (NYSE:PM) last released 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. The firm had revenue of $9.91 billion during the quarter, compared to analysts’ expectations of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The company’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.67 EPS. Equities analysts anticipate that Philip Morris International Inc. will post 6.51 EPS for the current fiscal 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 issued a $1.35 dividend. The ex-dividend date of this dividend 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 4.10%. Philip Morris International’s dividend payout ratio (DPR) is 85.71%.

Insider Transactions at Philip Morris International

In related news, insider Werner Barth sold 7,500 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the transaction, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. The trade was a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the sale, the chairman now owns 959,761 shares of the company’s stock, valued at $124,624,965.85. This trade represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

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.