Keudell Morrison Wealth Management Has $2.44 Million Stock Position in Philip Morris International Inc. (NYSE:PM)

Keudell Morrison Wealth Management reduced its position in shares of Philip Morris International Inc. (NYSE:PM) by 7.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,103 shares of the company’s stock after selling 1,649 shares during the period. Keudell Morrison Wealth Management’s holdings in Philip Morris International were worth $2,441,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. GQG Partners LLC grew its stake in shares of Philip Morris International by 5,006.0% in the first quarter. GQG Partners LLC now owns 5,958,391 shares of the company’s stock worth $545,908,000 after purchasing an additional 5,841,696 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Philip Morris International by 79.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,878,158 shares of the company’s stock valued at $595,634,000 after buying an additional 2,599,684 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Philip Morris International by 16.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock valued at $1,341,050,000 after acquiring an additional 1,856,551 shares during the period. Capital Research Global Investors boosted its holdings in Philip Morris International by 3.1% in the 1st quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock worth $5,517,085,000 after buying an additional 1,800,864 shares during the period. Finally, Capital World Investors boosted its holdings in Philip Morris International by 1.5% in the 1st quarter. Capital World Investors now owns 111,247,656 shares of the company’s stock worth $10,192,510,000 after buying an additional 1,684,992 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PM. The Goldman Sachs Group raised their price objective 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. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Bank of America raised their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. UBS Group raised their price objective on shares of Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Philip Morris International has an average rating of “Moderate Buy” and a consensus price target of $127.85.

Philip Morris International Stock Performance

NYSE:PM traded up $0.66 during trading hours on Thursday, reaching $125.97. The company’s stock had a trading volume of 800,001 shares, compared to its average volume of 5,352,167. The firm has a market capitalization of $195.86 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 2.28 and a beta of 0.54. The firm has a 50-day simple moving average of $124.13 and a 200-day simple moving average of $112.11. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $134.15.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $9.68 billion. During the same quarter in the previous year, the company earned $1.67 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities analysts anticipate that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were given a $1.35 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.29%. Philip Morris International’s payout ratio is presently 85.71%.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the business’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 transaction, the insider now owns 95,418 shares in the company, valued at approximately $12,402,431.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International 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 approximately $124,624,965.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the sale, the insider now directly owns 95,418 shares in the company, valued at $12,402,431.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

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.