Ellsworth Advisors LLC Invests $1.51 Million in Philip Morris International Inc. (NYSE:PM)

Ellsworth Advisors LLC acquired a new stake in Philip Morris International Inc. (NYSE:PM) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 12,394 shares of the company’s stock, valued at approximately $1,505,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PM. First Hawaiian Bank increased its holdings in shares of Philip Morris International by 1.9% in the first quarter. First Hawaiian Bank now owns 17,635 shares of the company’s stock valued at $1,616,000 after purchasing an additional 336 shares during the last quarter. American National Bank increased its stake in shares of Philip Morris International by 18.3% in the 1st quarter. American National Bank now owns 2,053 shares of the company’s stock worth $188,000 after acquiring an additional 317 shares during the last quarter. Park Avenue Securities LLC increased its stake in shares of Philip Morris International by 6.4% in the 1st quarter. Park Avenue Securities LLC now owns 98,626 shares of the company’s stock worth $9,036,000 after acquiring an additional 5,946 shares during the last quarter. Aprio Wealth Management LLC boosted its position in shares of Philip Morris International by 15.1% during the 1st quarter. Aprio Wealth Management LLC now owns 2,858 shares of the company’s stock valued at $262,000 after acquiring an additional 376 shares during the last quarter. Finally, RFG Advisory LLC grew its holdings in shares of Philip Morris International by 3.1% in the first quarter. RFG Advisory LLC now owns 14,080 shares of the company’s stock valued at $1,290,000 after purchasing an additional 421 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

Shares of Philip Morris International stock opened at $120.12 on Friday. The stock has a market capitalization of $186.73 billion, a price-to-earnings ratio of 23.46, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55. The business has a 50-day moving average of $121.27 and a 200 day moving average of $108.18. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $128.22.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.57 by $0.02. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The business had revenue of $9.47 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same quarter last year, the firm posted $1.60 earnings per share. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. Equities research analysts anticipate that Philip Morris International Inc. will post 6.45 earnings per share for the current year.

Philip Morris International Increases Dividend

The business 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. The ex-dividend date was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.50%. 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 105.47%.

Wall Street Analyst Weigh In

Several research firms have weighed in on PM. UBS Group decreased their target price on shares of Philip Morris International from $105.00 to $103.00 and set a “sell” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. upped their price objective on Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Citigroup raised their target price on 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 raised Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Finally, Stifel Nicolaus raised their price objective on Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Philip Morris International has a consensus rating of “Moderate Buy” and an average target price of $123.95.

Insider Activity at Philip Morris International

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the sale, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the sale, the insider now owns 158,447 shares in the company, valued at $17,906,095.47. The trade was 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 currently owned by company insiders.

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.