Philip Morris International Inc. (NYSE:PM) Shares Purchased by Gateway Investment Advisers LLC

Posted by Defense World Staff on Mar 24th, 2023

Gateway Investment Advisers LLC increased its holdings in shares of Philip Morris International Inc. (NYSE:PM – Get Rating) by 9.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,514 shares of the company’s stock after purchasing an additional 2,484 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Philip Morris International were worth $2,987,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PM. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Philip Morris International during the 3rd quarter valued at approximately $25,000. My Personal CFO LLC purchased a new position in shares of Philip Morris International during the 4th quarter valued at approximately $31,000. Asset Dedication LLC purchased a new position in shares of Philip Morris International during the 3rd quarter valued at approximately $36,000. EdgeRock Capital LLC purchased a new position in shares of Philip Morris International during the 3rd quarter valued at approximately $39,000. Finally, Annapolis Financial Services LLC boosted its stake in shares of Philip Morris International by 188.8% during the 3rd quarter. Annapolis Financial Services LLC now owns 488 shares of the company’s stock valued at $41,000 after buying an additional 319 shares during the last quarter. Institutional investors and hedge funds own 75.85% of the company’s stock.

Insider Activity

In other news, insider Stacey Kennedy sold 8,756 shares of the firm’s stock in a transaction on Friday, February 10th. The stock was sold at an average price of $101.31, for a total transaction of $887,070.36. Following the transaction, the insider now directly owns 47,731 shares of the company’s stock, valued at $4,835,627.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Stacey Kennedy sold 8,756 shares of the firm’s stock in a transaction dated Friday, February 10th. The stock was sold at an average price of $101.31, for a total transaction of $887,070.36. Following the completion of the transaction, the insider now owns 47,731 shares of the company’s stock, valued at $4,835,627.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Werner Barth sold 8,000 shares of the firm’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 directly owns 87,321 shares of the company’s stock, valued at approximately $8,588,020.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 117,064 shares of company stock valued at $11,738,763. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

PM has been the subject of several research analyst reports. StockNews.com initiated coverage on Philip Morris International in a research note on Thursday, March 16th. They set a “hold” rating for the company. Morgan Stanley raised their price objective on Philip Morris International from $109.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, February 2nd. The Goldman Sachs Group upgraded Philip Morris International from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $95.00 to $120.00 in a research note on Wednesday, January 25th. Societe Generale initiated coverage on Philip Morris International in a research note on Monday, January 23rd. They set a “sell” rating and a $90.00 price objective on the stock. Finally, Jefferies Financial Group upgraded Philip Morris International from a “hold” rating to a “buy” rating and raised their price objective for the stock from $86.00 to $118.00 in a research note on Thursday, January 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $109.73.

Philip Morris International Price Performance

Shares of NYSE PM opened at $90.27 on Friday. Philip Morris International Inc. has a 1-year low of $82.85 and a 1-year high of $109.81. The business’s fifty day moving average price is $100.02 and its two-hundred day moving average price is $96.69. The firm has a market capitalization of $139.94 billion, a PE ratio of 15.54, a P/E/G ratio of 3.06 and a beta of 0.69.

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

Philip Morris International Dividend Announcement

The firm also recently declared 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 5.63%. The ex-dividend date is Wednesday, March 22nd. Philip Morris International’s dividend payout ratio (DPR) is 87.44%.

About Philip Morris International

(Get Rating)

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.