Clark Estates Inc. NY Cuts Stake in Philip Morris International Inc. (NYSE:PM)

Clark Estates Inc. NY lowered its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 62.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 85,300 shares of the company’s stock after selling 140,000 shares during the period. Philip Morris International comprises about 1.9% of Clark Estates Inc. NY’s investment portfolio, making the stock its 12th biggest position. Clark Estates Inc. NY’s holdings in Philip Morris International were worth $10,355,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC boosted its stake in shares of 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 position in shares of Philip Morris International in the second quarter worth $25,000. Sachetta LLC raised its holdings in 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 buying an additional 105 shares during the last quarter. Valley Wealth Managers Inc. boosted its position in Philip Morris International by 457.5% during the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock valued at $27,000 after buying an additional 183 shares during the period. Finally, Fortitude Family Office LLC increased 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 acquiring an additional 116 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Citigroup increased their target price 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. Bank of America lifted their price objective on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. upped their target price on Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. UBS Group lifted their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $131.50.

Philip Morris International Price Performance

Shares of NYSE PM opened at $132.28 on Wednesday. The stock has a market cap of $205.67 billion, a P/E ratio of 21.00, a price-to-earnings-growth ratio of 2.29 and a beta of 0.54. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $134.15. The firm has a 50-day moving average of $125.04 and a 200 day moving average of $115.30.

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

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders 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. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International’s dividend payout ratio is currently 85.71%.

Insider Activity

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s stock in a transaction dated 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 sale, the chairman now owns 959,761 shares of the company’s stock, valued at $124,624,965.85. This trade represents a 9.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Werner Barth sold 7,500 shares of the firm’s 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 completion of the sale, the insider now owns 95,418 shares in the company, valued at $12,402,431.64. This represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

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.