Balboa Wealth Partners Buys 240 Shares of Philip Morris International Inc. (NYSE:PM)

Balboa Wealth Partners boosted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 7.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,638 shares of the company’s stock after buying an additional 240 shares during the period. Balboa Wealth Partners’ holdings in Philip Morris International were worth $442,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Woodmont Investment Counsel LLC lifted its position in shares of Philip Morris International by 1.6% during the 3rd quarter. Woodmont Investment Counsel LLC now owns 5,452 shares of the company’s stock valued at $662,000 after buying an additional 86 shares in the last quarter. YHB Investment Advisors Inc. lifted its holdings in Philip Morris International by 4.2% during the third quarter. YHB Investment Advisors Inc. now owns 2,158 shares of the company’s stock valued at $262,000 after purchasing an additional 87 shares in the last quarter. Longfellow Investment Management Co. LLC grew its position in shares of Philip Morris International by 0.7% in the second quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock valued at $1,306,000 after purchasing an additional 88 shares during the period. Dearborn Partners LLC increased its stake in shares of Philip Morris International by 3.2% during the second quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock worth $291,000 after purchasing an additional 89 shares in the last quarter. Finally, Cypress Wealth Services LLC raised its position in shares of Philip Morris International by 1.3% during the 3rd quarter. Cypress Wealth Services LLC now owns 6,748 shares of the company’s stock worth $819,000 after purchasing an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Insider Buying and Selling at Philip Morris International

In other news, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. This represents a 7.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction that occurred on 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 position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Philip Morris International Trading Up 0.3 %

Shares of PM stock opened at $128.59 on Friday. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15. The stock has a market cap of $199.94 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 2.19 and a beta of 0.54. The company’s 50-day moving average price is $124.25 and its 200-day moving average price is $113.21.

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

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were paid a dividend of $1.35 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date was Thursday, September 26th. This represents a $5.40 annualized dividend and a yield of 4.20%. Philip Morris International’s dividend payout ratio (DPR) is 85.71%.

Analysts Set New Price Targets

PM has been the topic of several research analyst reports. Citigroup lifted their price objective on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $145.00 price target (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price target on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Barclays raised their price objective on Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Philip Morris International presently has an average rating of “Moderate Buy” and an average target price of $127.85.

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.