Kimelman & Baird LLC Makes New $942,000 Investment in Philip Morris International Inc. (NYSE:PM)

Kimelman & Baird LLC acquired a new position in shares of Philip Morris International Inc. (NYSE:PM) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,293 shares of the company’s stock, valued at approximately $942,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Iron Horse Wealth Management LLC boosted its stake in shares of Philip Morris International by 684.4% during the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after acquiring an additional 219 shares during the last quarter. Sachetta LLC boosted its stake in shares of Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after purchasing an additional 105 shares during the last quarter. Fortitude Family Office LLC grew its holdings in shares of Philip Morris International by 57.4% during the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after buying an additional 116 shares in the last quarter. Boyd Watterson Asset Management LLC OH raised its position in shares of Philip Morris International by 250.0% in the first quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock valued at $30,000 after buying an additional 230 shares during the last quarter. Finally, Olistico Wealth LLC acquired a new stake in Philip Morris International during the second quarter worth approximately $34,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

PM has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a report on Thursday, July 25th. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Stifel Nicolaus raised their target price on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. UBS Group upped their price target on shares of Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a research report on Monday, September 9th. Finally, The Goldman Sachs Group boosted their price objective on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average target price of $119.14.

Insiders Place Their Bets

In other news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction that occurred on 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 of the company’s stock, valued at $9,877,305.15. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the sale, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Philip Morris International Stock Down 0.2 %

Shares of NYSE PM opened at $120.62 on Monday. The firm has a market cap of $187.51 billion, a PE ratio of 23.56, a price-to-earnings-growth ratio of 2.37 and a beta of 0.55. The business has a 50 day moving average price of $119.60 and a two-hundred day moving average price of $105.72. Philip Morris International Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $128.22.

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

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 26th will be given a $1.35 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.48%. Philip Morris International’s dividend payout ratio (DPR) is currently 105.47%.

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.