626 Financial LLC Sells 113 Shares of Philip Morris International Inc. (NYSE:PM)

626 Financial LLC trimmed its stake in Philip Morris International Inc. (NYSE:PM) by 3.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,184 shares of the company’s stock after selling 113 shares during the period. 626 Financial LLC’s holdings in Philip Morris International were worth $387,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PM. Luts & Greenleigh Group Inc. raised its position in Philip Morris International by 1.1% during the third quarter. Luts & Greenleigh Group Inc. now owns 8,448 shares of the company’s stock valued at $1,026,000 after purchasing an additional 89 shares in the last quarter. Dover Advisors LLC raised its holdings in shares of Philip Morris International by 5.6% during the 3rd quarter. Dover Advisors LLC now owns 8,237 shares of the company’s stock valued at $1,000,000 after buying an additional 439 shares in the last quarter. SWS Partners lifted its position in Philip Morris International by 4,939.7% in the 3rd quarter. SWS Partners now owns 21,217 shares of the company’s stock worth $2,576,000 after buying an additional 20,796 shares during the last quarter. Occidental Asset Management LLC boosted its stake in Philip Morris International by 13.0% in the third quarter. Occidental Asset Management LLC now owns 2,585 shares of the company’s stock worth $314,000 after buying an additional 297 shares in the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC lifted its holdings in shares of Philip Morris International by 1.1% in the 3rd quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 8,180 shares of the company’s stock worth $993,000 after acquiring an additional 90 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on PM. JPMorgan Chase & Co. lifted their target price on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Barclays boosted their target price on Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Bank of America raised their price target on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. The Goldman Sachs Group boosted their price objective on Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $123.95.

Philip Morris International Stock Up 0.3 %

NYSE:PM opened at $120.42 on Wednesday. The firm’s fifty day simple moving average is $121.09 and its 200 day simple moving average is $108.01. The stock has a market cap of $187.20 billion, a P/E ratio of 23.52, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $128.22.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the prior year, the firm earned $1.60 earnings per share. Philip Morris International’s revenue was up 5.6% on a year-over-year basis. On average, analysts expect that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 annualized dividend and a yield of 4.48%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is presently 105.47%.

Insider Activity

In other news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the transaction, the insider now owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction 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 directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total value of $2,260,200.00. Following the transaction, the insider now directly owns 158,447 shares in the company, valued at approximately $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. Company insiders own 0.13% of the company’s stock.

Philip Morris International Company 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.