Philip Morris International Inc. (NYSE:PM) Shares Sold by Conning Inc.

Conning Inc. cut its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 13.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 228,209 shares of the company’s stock after selling 35,577 shares during the period. Conning Inc.’s holdings in Philip Morris International were worth $27,705,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC increased its stake in Philip Morris International by 684.4% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after purchasing an additional 219 shares in the last quarter. Sachetta LLC increased 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 worth $27,000 after acquiring an additional 105 shares in the last quarter. Concord Wealth Partners raised its holdings in shares of Philip Morris International by 2,709.1% during the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock valued at $38,000 after acquiring an additional 298 shares during the period. Fortitude Family Office LLC lifted its position in shares of Philip Morris International by 57.4% in the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after acquiring an additional 116 shares in the last quarter. Finally, Olistico Wealth LLC acquired a new position in Philip Morris International in the 2nd quarter worth approximately $34,000. 78.63% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Philip Morris International 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 transaction of $974,850.00. Following the transaction, the insider now owns 95,418 shares in the company, valued at $12,402,431.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Philip Morris International news, 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 of the company’s stock, valued at $124,624,965.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were 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 in the company, valued at approximately $12,402,431.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 118,418 shares of company stock worth $15,247,052. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PM. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Stifel Nicolaus restated a “buy” rating and set a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. UBS Group upped their target price on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group raised their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Citigroup upped 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 note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.85.

Philip Morris International Stock Down 1.5 %

PM stock opened at $130.65 on Friday. The firm has a 50 day moving average of $123.70 and a two-hundred day moving average of $111.32. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $134.15. The company has a market capitalization of $203.14 billion, a price-to-earnings ratio of 20.74, a P/E/G ratio of 2.32 and a beta of 0.54.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $9.91 billion during the quarter, compared to analysts’ expectations of $9.68 billion. During the same period in the prior year, the company posted $1.67 earnings per share. Philip Morris International’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, research analysts expect that Philip Morris International Inc. will post 6.51 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The business 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 represents a $5.40 dividend on an annualized basis and a dividend yield of 4.13%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is presently 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.