Mizuho Securities USA LLC Sells 19,040 Shares of Philip Morris International Inc. (NYSE:PM)

Mizuho Securities USA LLC lowered its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 15.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 100,821 shares of the company’s stock after selling 19,040 shares during the period. Mizuho Securities USA LLC’s holdings in Philip Morris International were worth $12,240,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Iron Horse Wealth Management LLC lifted its position in Philip Morris International by 684.4% during the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after acquiring an additional 219 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in Philip Morris International during the second quarter worth approximately $25,000. Sachetta LLC raised its position in shares of Philip Morris International by 64.8% in the second quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after buying an additional 105 shares in the last quarter. Valley Wealth Managers Inc. raised its position in shares of Philip Morris International by 457.5% in the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock valued at $27,000 after buying an additional 183 shares in the last quarter. Finally, Fortitude Family Office LLC raised its position in shares of Philip Morris International by 57.4% in the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after buying an additional 116 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Insider Buying and Selling

In related news, insider Werner Barth sold 7,500 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the transaction, the insider now owns 95,418 shares in the company, valued at $12,402,431.64. The trade was a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the transaction, the chairman now owns 959,761 shares in the company, valued at approximately $124,624,965.85. The trade was a 9.60 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 price target (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. The Goldman Sachs Group lifted their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. lifted their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Barclays lifted their price target on shares of Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Citigroup boosted their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $131.50.

Philip Morris International Stock Performance

NYSE PM opened at $130.39 on Thursday. The firm’s fifty day moving average price is $124.55 and its two-hundred day moving average price is $114.27. The stock has a market cap of $202.73 billion, a PE ratio of 20.70, a PEG ratio of 2.27 and a beta of 0.54. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $134.15.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.09. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The company had revenue of $9.91 billion for the quarter, compared to analysts’ expectations of $9.68 billion. During the same quarter in the previous year, the firm posted $1.67 earnings per share. Philip Morris International’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, sell-side analysts predict that Philip Morris International Inc. will post 6.51 earnings per share 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 $1.35 dividend. This is a boost 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 annualized dividend and a dividend yield of 4.14%. Philip Morris International’s payout ratio is currently 85.71%.

Philip Morris International 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.