Logan Capital Management Inc. Lowers Holdings in Philip Morris International Inc. (NYSE:PM)

Logan Capital Management Inc. cut its holdings in Philip Morris International Inc. (NYSE:PM) by 8.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 131,089 shares of the company’s stock after selling 11,397 shares during the quarter. Logan Capital Management Inc.’s holdings in Philip Morris International were worth $15,914,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. 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 valued at $25,000 after purchasing an additional 219 shares during the period. Strategic Financial Concepts LLC purchased a new stake in Philip Morris International in the 2nd quarter worth approximately $25,000. Sachetta LLC increased its holdings in shares of Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after purchasing an additional 105 shares in the last quarter. Valley Wealth Managers Inc. lifted its stake in shares of Philip Morris International by 457.5% in the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock valued at $27,000 after purchasing an additional 183 shares during the period. Finally, Dunhill Financial LLC boosted its holdings in Philip Morris International by 203.8% during the third quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock worth $29,000 after buying an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PM. Stifel Nicolaus reaffirmed a “buy” rating and issued a $145.00 price objective (up previously from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Citigroup increased their price target on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Barclays boosted their price objective on Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. UBS Group increased their target price on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research report on Wednesday, October 23rd. Finally, Bank of America boosted their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $131.50.

Philip Morris International Stock Performance

Shares of NYSE PM traded down $0.50 during mid-day trading on Friday, reaching $126.50. The company’s stock had a trading volume of 149,954 shares, compared to its average volume of 5,334,235. The stock has a 50-day moving average of $127.35 and a two-hundred day moving average of $117.60. The stock has a market capitalization of $196.69 billion, a P/E ratio of 20.16, a P/E/G ratio of 2.22 and a beta of 0.53. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $134.15.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. The company had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.67 earnings per share. Analysts predict that Philip Morris International Inc. will post 6.51 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, December 26th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.27%. Philip Morris International’s dividend payout ratio is currently 85.71%.

Insider Activity at Philip Morris International

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

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.