CreativeOne Wealth LLC Decreases Stake in Philip Morris International Inc. (NYSE:PM)

Posted by Defense World Staff on Mar 15th, 2023

CreativeOne Wealth LLC lowered its stake in shares of Philip Morris International Inc. (NYSE:PM – Get Rating) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,646 shares of the company’s stock after selling 370 shares during the period. CreativeOne Wealth LLC’s holdings in Philip Morris International were worth $1,133,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Philip Morris International by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 132,480,611 shares of the company’s stock worth $10,997,216,000 after purchasing an additional 1,451,582 shares during the last quarter. BlackRock Inc. increased its stake in shares of Philip Morris International by 1.0% during the 3rd quarter. BlackRock Inc. now owns 100,951,462 shares of the company’s stock worth $8,379,979,000 after purchasing an additional 962,801 shares during the last quarter. State Street Corp increased its stake in shares of Philip Morris International by 0.7% during the 3rd quarter. State Street Corp now owns 57,777,797 shares of the company’s stock worth $4,868,937,000 after purchasing an additional 389,746 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Philip Morris International by 22.7% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 35,468,228 shares of the company’s stock worth $2,944,500,000 after purchasing an additional 6,558,762 shares during the last quarter. Finally, GQG Partners LLC increased its stake in shares of Philip Morris International by 1.6% during the 2nd quarter. GQG Partners LLC now owns 30,443,730 shares of the company’s stock worth $3,006,398,000 after purchasing an additional 476,875 shares during the last quarter. Hedge funds and other institutional investors own 75.85% of the company’s stock.

Insider Transactions at Philip Morris International

In other news, Chairman Andre Calantzopoulos sold 80,000 shares of Philip Morris International stock in a transaction on Friday, February 17th. The shares were sold at an average price of $100.35, for a total transaction of $8,028,000.00. Following the completion of the sale, the chairman now directly owns 1,007,048 shares of the company’s stock, valued at approximately $101,057,266.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Philip Morris International news, insider Werner Barth sold 8,000 shares of the business’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $98.35, for a total value of $786,800.00. Following the transaction, the insider now owns 87,321 shares in the company, valued at $8,588,020.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Andre Calantzopoulos sold 80,000 shares of the business’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $100.35, for a total transaction of $8,028,000.00. Following the completion of the transaction, the chairman now owns 1,007,048 shares in the company, valued at approximately $101,057,266.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 117,064 shares of company stock valued at $11,738,763. Insiders own 0.13% of the company’s stock.

Philip Morris International Price Performance

Shares of NYSE:PM opened at $97.35 on Wednesday. The firm has a fifty day moving average price of $101.07 and a two-hundred day moving average price of $96.76. Philip Morris International Inc. has a one year low of $82.85 and a one year high of $109.81. The company has a market cap of $150.92 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 3.13 and a beta of 0.69.

Philip Morris International (NYSE:PM – Get Rating) last announced its quarterly earnings results on Thursday, February 9th. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.29 by $0.10. Philip Morris International had a net margin of 11.22% and a negative return on equity of 127.24%. The firm had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $7.54 billion. During the same period last year, the firm earned $1.35 EPS. The business’s quarterly revenue was up .6% compared to the same quarter last year. Equities research analysts expect that Philip Morris International Inc. will post 6.29 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 11th. Stockholders of record on Thursday, March 23rd will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date is Wednesday, March 22nd. Philip Morris International’s dividend payout ratio is currently 87.44%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PM shares. The Goldman Sachs Group upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and raised their price target for the stock from $95.00 to $120.00 in a research note on Wednesday, January 25th. Societe Generale assumed coverage on shares of Philip Morris International in a research note on Monday, January 23rd. They issued a “sell” rating and a $90.00 price objective for the company. UBS Group upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $106.00 to $116.00 in a research note on Wednesday, March 1st. Citigroup reiterated a “neutral” rating and issued a $109.00 price objective on shares of Philip Morris International in a research note on Tuesday, December 13th. Finally, Jefferies Financial Group upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating and lifted their price objective for the company from $86.00 to $118.00 in a research note on Thursday, January 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $109.73.

Philip Morris International Profile

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Philip Morris International, Inc is a holding company engaged in the manufacturing and sale of cigarettes, tobacco, and nicotine-containing products. Its products include cigarettes and reduced-risk products, including heat-not-burn, vapor, and oral nicotine products. The firm operates through the following geographical segments: European Union, Eastern Europe, Middle East and Africa, South and Southeast Asia, East Asia and Australia, and Americas.