Eagle Bay Advisors LLC Reduces Stake in Philip Morris International Inc. (NYSE:PM)

Eagle Bay Advisors LLC lowered its holdings in Philip Morris International Inc. (NYSE:PM) by 6.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,354 shares of the company’s stock after selling 163 shares during the period. Eagle Bay Advisors LLC’s holdings in Philip Morris International were worth $287,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PM. 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. Dunhill Financial LLC lifted its stake in shares of Philip Morris International by 203.8% in the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock valued at $29,000 after purchasing an additional 161 shares during the period. Concord Wealth Partners lifted its stake in shares of Philip Morris International by 2,709.1% in the 3rd quarter. Concord Wealth Partners now owns 309 shares of the company’s stock valued at $38,000 after purchasing an additional 298 shares during the period. Darwin Wealth Management LLC purchased a new position in shares of Philip Morris International in the 3rd quarter valued at approximately $54,000. Finally, Reston Wealth Management LLC purchased a new position in shares of Philip Morris International in the 3rd quarter valued at approximately $58,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the sale, the chairman now owns 959,761 shares in the company, valued at approximately $124,624,965.85. This trade represents a 9.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Werner Barth sold 7,500 shares of the stock in a transaction that occurred 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 directly owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. The trade was a 7.29 % 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.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PM shares. Stifel Nicolaus restated a “buy” rating and issued a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. UBS Group raised their price objective 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. Deutsche Bank Aktiengesellschaft raised their price objective on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Barclays reduced their price objective on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group raised 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $130.39.

Philip Morris International Trading Down 0.5 %

NYSE PM traded down $0.55 on Monday, hitting $116.60. 1,525,334 shares of the company traded hands, compared to its average volume of 3,859,058. The company has a market capitalization of $181.29 billion, a price-to-earnings ratio of 18.51, a P/E/G ratio of 2.22 and a beta of 0.54. The business’s 50 day moving average price is $126.34 and its 200-day moving average price is $120.84. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $134.15.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.82 by $0.09. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The business had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. During the same period in the previous year, the business earned $1.67 earnings per share. The business’s revenue 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 year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, December 26th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.63%. The ex-dividend date is Thursday, December 26th. Philip Morris International’s dividend 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.