Frazier Financial Advisors LLC Sells 262 Shares of Philip Morris International Inc. (NYSE:PM)

Frazier Financial Advisors LLC cut its position in Philip Morris International Inc. (NYSE:PM) by 52.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 242 shares of the company’s stock after selling 262 shares during the quarter. Frazier Financial Advisors LLC’s holdings in Philip Morris International were worth $29,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Patten & Patten Inc. TN increased its holdings in shares of Philip Morris International by 4.8% during the first quarter. Patten & Patten Inc. TN now owns 8,351 shares of the company’s stock valued at $765,000 after acquiring an additional 385 shares in the last quarter. Hillsdale Investment Management Inc. increased its holdings in shares of Philip Morris International by 21.4% during the first quarter. Hillsdale Investment Management Inc. now owns 1,700 shares of the company’s stock valued at $156,000 after acquiring an additional 300 shares in the last quarter. Covestor Ltd increased its holdings in shares of Philip Morris International by 119.4% during the first quarter. Covestor Ltd now owns 1,051 shares of the company’s stock valued at $96,000 after acquiring an additional 572 shares in the last quarter. Bahl & Gaynor Inc. increased its holdings in shares of Philip Morris International by 5.7% during the first quarter. Bahl & Gaynor Inc. now owns 22,162 shares of the company’s stock valued at $2,030,000 after acquiring an additional 1,191 shares in the last quarter. Finally, Rockport Wealth LLC acquired a new position in shares of Philip Morris International during the first quarter valued at about $243,000. 78.63% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction that occurred on 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 transaction, the chairman now owns 959,761 shares in the company, valued at $124,624,965.85. This trade represents a 9.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 owns 95,418 shares in the company, valued at $12,402,431.64. This trade represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Philip Morris International Trading Up 0.3 %

Philip Morris International stock opened at $128.59 on Friday. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $134.15. The stock’s 50 day simple moving average is $124.30 and its two-hundred day simple moving average is $113.57. The firm has a market cap of $199.94 billion, a PE ratio of 20.41, a P/E/G ratio of 2.25 and a beta of 0.54.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping 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 analyst estimates of $9.68 billion. During the same quarter in the prior year, the firm posted $1.67 EPS. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts forecast that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were given a dividend of $1.35 per share. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.20%. Philip Morris International’s dividend payout ratio (DPR) is 85.71%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Citigroup increased their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Bank of America increased 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. Finally, The Goldman Sachs Group increased 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Philip Morris International currently has an average rating of “Moderate Buy” and an average target price of $131.50.

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.