Fiduciary Family Office LLC lowered its holdings in Philip Morris International Inc. (NYSE:PM – Free Report) by 1.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 28,078 shares of the company’s stock after selling 409 shares during the quarter. Philip Morris International accounts for about 1.1% of Fiduciary Family Office LLC’s holdings, making the stock its 10th biggest position. Fiduciary Family Office LLC’s holdings in Philip Morris International were worth $3,409,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of PM. Nordea Investment Management AB boosted its position in shares of Philip Morris International by 4.8% during the first quarter. Nordea Investment Management AB now owns 76,889 shares of the company’s stock valued at $7,061,000 after buying an additional 3,525 shares during the last quarter. Mediolanum International Funds Ltd purchased a new stake in shares of Philip Morris International in the first quarter valued at about $8,991,000. TFB Advisors LLC bought a new position in shares of Philip Morris International during the first quarter valued at about $254,000. Catalina Capital Group LLC purchased a new position in Philip Morris International during the first quarter worth about $355,000. Finally, Richardson Financial Services Inc. grew its position in Philip Morris International by 8.6% in the 1st quarter. Richardson Financial Services Inc. now owns 2,504 shares of the company’s stock worth $230,000 after purchasing an additional 198 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.
Analyst Upgrades and Downgrades
PM has been the topic of several recent analyst reports. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Citigroup upped their price objective on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group raised their target price 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. Barclays increased their price target on shares of Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus restated a “buy” rating and set a $145.00 price objective (up previously 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, three have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.85.
Insider Buying and Selling at Philip Morris International
In other news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction 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 transaction, the insider now owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s 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 sale, the chairman now owns 959,761 shares in the company, valued at $124,624,965.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 118,418 shares of company stock valued at $15,247,052 in the last three months. Company insiders own 0.14% of the company’s stock.
Philip Morris International Price Performance
Shares of NYSE:PM traded up $1.60 during trading on Tuesday, hitting $131.93. 358,931 shares of the company were exchanged, compared to its average volume of 5,337,996. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $134.15. The stock has a 50 day moving average of $123.88 and a 200 day moving average of $111.75. The company has a market cap of $205.13 billion, a PE ratio of 20.69, a P/E/G ratio of 2.28 and a beta of 0.54.
Philip Morris International (NYSE:PM – Get Free Report) 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. The business 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 firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.67 EPS. Sell-side analysts forecast that Philip Morris International Inc. will post 6.51 EPS for the current fiscal year.
Philip Morris International Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend was Thursday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio is 85.71%.
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.
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