Alliance Wealth Advisors LLC UT Purchases Philip Morris International Inc. Stake; Insider Sells Stake

Financial Advisors

May 7, 2023 – Alliance Wealth Advisors LLC UT recently purchased new shares in Philip Morris International Inc. (NYSE:PM) during the fourth quarter. The company purchased 6,159 of his shares worth about $623,000, according to recent filings with the Securities and Exchange Commission. The news comes as insiders are selling shares in the company.

On March 2, insider Werner Barth sold 8,000 shares of PM stock at an average price of $98.35 for a total transaction value of $786,800.00. Following the sale, Bath now directly owns 87,321 shares of the company valued at approximately $8,588,020.35. The transaction is disclosed in filings with the SEC, which can be accessed on his website.

Similarly, insider Stacey Kennedy sold 20,308 shares of PM stock on February 17 at an average price of $100.30 for a total of $2,036,892.40. After this sale, Kennedy now directly owns 22,418 of her shares worth $2,248,525.40.

In the past three months alone, insiders have sold over $11.7 million in stock, but own just over 0.13% of PM’s stake.

NYSE:PM shares edged up near $95 on May 7, as analysts warned investors of the political headwinds facing major US and European tobacco companies.

With a current market capitalization of approximately $148 billion and future earnings projections generally hinged on its ability to sustain global revenue growth while navigating increasing regulatory scrutiny. It remains to be seen how long insiders will seek to sell their holdings, even though prices remain relatively strong. It can be confusing given that the market is shifting towards more ‘responsible’ investments, questioning traditional financial drivers such as side stocks.

Insider Sales and Investor Movement: An Analysis of Recent Activity Surrounding Philip Morris International

Tobacco giant Philip Morris International has seen some interesting moves in its holdings over the past year. Some hedge funds and institutional investors are changing their PM investments, some buying new positions and some increasing existing positions. Mark Sheptoff Financial Planning has purchased shares in Philip Morris International in the third quarter of 2022 in a new position worth $25,000. Red Tortoise LLC purchased $29,000 worth of new shares and Riverpoint Wealth Management Holdings LLC invested his $25,000 in Q4 2022. Winch Advisory Services LLC acquired 200% of him during the fourth quarter and he now owns 294 shares of the company stock worth $30,000. Finally, My Personal CFO LLC invested his $31,000 in his PM in the fourth quarter. An institutional investor holds his 75.85% stake in the company.

These moves come amid various assessments by investment analysts of PM’s future prospects. UBS Group raised its rating on Philip Morris International from ‘neutral’ to ‘buy’ on March 1 this year, and raised its price target from $106 to $116. Morgan Stanley also raised PM’s price target from his $109 to $118, giving him an “overweight” rating on February 2 this year. In contrast, Société Générale started its coverage of Philip Morris International with a ‘sell’ rating and set a price target of $90 on January 23 last year.

According to recently filed documents, Philip Morris International insiders have sold a significant amount of the company’s stake since February of this year. Werner Barth said he sold 16,000 of his shares worth more than $1.5 million from March to April alone, while Stacey Kennedy said he sold just over $100 a share in February. At an average price he sold over 20,000 shares.

Despite these insider sales reports and mixed investment assessments regarding the company’s future growth potential and the regulatory challenges facing the tobacco industry, Philip Morris International has not revised its earnings guidance for the second quarter of 2023. surpassed. The company’s EPS of $1.38 beat consensus expectations by 4 cents, and earnings increased from his $7.8 billion in the second quarter of last year to $8.1 billion this year.

Philip Morris International also recently paid a quarterly dividend. The investor said he received a dividend of $1.27 per share on April 11, against his March 23 record for this year. Interesting trends in PM holdings and insider sales reports, coupled with strong earnings in the second quarter of the current fiscal year, suggest further movement in the world of tobacco investment and increased projections about the future of PMs. is expected.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *