Portside Wealth Group LLC Has $4.22 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Portside Wealth Group LLC lowered its holdings in Philip Morris International Inc. (NYSE:PM) by 6.3% during the third quarter, Holdings Channel.com reports. The firm owned 34,770 shares of the company’s stock after selling 2,327 shares during the period. Portside Wealth Group LLC’s holdings in Philip Morris International were worth $4,221,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PM. Woodmont Investment Counsel LLC increased its position in shares of Philip Morris International by 1.6% during the third quarter. Woodmont Investment Counsel LLC now owns 5,452 shares of the company’s stock worth $662,000 after buying an additional 86 shares during the period. YHB Investment Advisors Inc. lifted its position in shares of Philip Morris International by 4.2% during the third quarter. YHB Investment Advisors Inc. now owns 2,158 shares of the company’s stock valued at $262,000 after purchasing an additional 87 shares in the last quarter. Longfellow Investment Management Co. LLC grew its holdings in shares of Philip Morris International by 0.7% in the second quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock valued at $1,306,000 after acquiring an additional 88 shares in the last quarter. Dearborn Partners LLC increased its holdings in Philip Morris International by 3.2% during the second quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock worth $291,000 after buying an additional 89 shares during the last quarter. Finally, Cypress Wealth Services LLC lifted its stake in Philip Morris International by 1.3% in the third quarter. Cypress Wealth Services LLC now owns 6,748 shares of the company’s stock valued at $819,000 after purchasing an additional 89 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Insider Transactions at Philip Morris International

In other news, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the sale, the insider now directly owns 95,418 shares of the company’s stock, valued at $12,402,431.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Werner Barth sold 7,500 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the sale, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total value of $13,234,052.30. Following the transaction, the chairman now owns 959,761 shares in the company, valued at $124,624,965.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PM. The Goldman Sachs Group lifted 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, September 26th. Stifel Nicolaus reissued a “buy” rating and set a $145.00 price objective (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. UBS Group boosted their target price on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a report on Wednesday, October 23rd. Finally, Citigroup boosted their target price on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $127.85.

Philip Morris International Stock Performance

Philip Morris International stock opened at $123.78 on Friday. The stock has a fifty day moving average of $124.13 and a 200 day moving average of $112.11. The stock has a market cap of $192.46 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 2.28 and a beta of 0.54. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $134.15.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. The business had revenue of $9.91 billion during the quarter, compared to analysts’ expectations of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.67 earnings per share. As a group, sell-side analysts predict that Philip Morris International Inc. will post 6.51 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. Stockholders of record on Thursday, September 26th were paid a $1.35 dividend. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.36%. Philip Morris International’s dividend payout ratio is 85.71%.

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.