Whittier Trust Co. of Nevada Inc. Has $21.77 Million Stake in Philip Morris International Inc. (NYSE:PM)

Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 26.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 179,334 shares of the company’s stock after purchasing an additional 37,170 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Philip Morris International were worth $21,771,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PM. Iron Horse Wealth Management LLC increased its position 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 worth $25,000 after acquiring an additional 219 shares in the last quarter. Sachetta LLC boosted its holdings in Philip Morris International by 64.8% during the second quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after purchasing an additional 105 shares during the last quarter. Fortitude Family Office LLC boosted its holdings in Philip Morris International by 57.4% during the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after purchasing an additional 116 shares during the last quarter. Olistico Wealth LLC acquired a new position in Philip Morris International during the second quarter worth $34,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Philip Morris International in the second quarter valued at $42,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Trading Down 0.9 %

Philip Morris International stock traded down $1.05 during midday trading on Monday, reaching $119.16. The stock had a trading volume of 2,225,420 shares, compared to its average volume of 5,305,925. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $128.22. The company has a market capitalization of $185.24 billion, a P/E ratio of 23.48, a PEG ratio of 2.35 and a beta of 0.55. The company has a fifty day moving average price of $121.35 and a two-hundred day moving average price of $108.62.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The business had revenue of $9.47 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same period in the previous year, the company posted $1.60 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. On average, equities research analysts predict that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were paid a dividend of $1.35 per share. The ex-dividend date was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.53%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is 105.47%.

Insider Buying and Selling at Philip Morris International

In other news, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the transaction, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total value of $2,260,200.00. Following the transaction, the insider now owns 158,447 shares in the company, valued at $17,906,095.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the transaction, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. The Goldman Sachs Group increased their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Citigroup increased their price target 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. UBS Group cut their price target on shares of Philip Morris International from $105.00 to $103.00 and set a “sell” rating for the company in a research note on Tuesday, October 15th. Stifel Nicolaus raised their target price on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Bank of America raised their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Philip Morris International currently has an average rating of “Moderate Buy” and a consensus target price of $123.95.

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.