Chevy Chase Trust Holdings LLC Lowers Stock Position in Philip Morris International Inc. (NYSE:PM)

Chevy Chase Trust Holdings LLC cut its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 1.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 837,449 shares of the company’s stock after selling 15,122 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Philip Morris International worth $101,666,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PM. 49 Wealth Management LLC lifted its position in Philip Morris International by 3.6% during the third quarter. 49 Wealth Management LLC now owns 2,432 shares of the company’s stock valued at $295,000 after acquiring an additional 84 shares during the last quarter. Woodmont Investment Counsel LLC increased its position in shares of Philip Morris International by 1.6% during the third quarter. Woodmont Investment Counsel LLC now owns 5,452 shares of the company’s stock worth $662,000 after purchasing an additional 86 shares in the last quarter. YHB Investment Advisors Inc. increased its position in shares of Philip Morris International by 4.2% during the third quarter. YHB Investment Advisors Inc. now owns 2,158 shares of the company’s stock worth $262,000 after purchasing an additional 87 shares in the last quarter. Longfellow Investment Management Co. LLC lifted its holdings in shares of Philip Morris International by 0.7% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock valued at $1,306,000 after purchasing an additional 88 shares during the last quarter. Finally, Dearborn Partners LLC boosted its position in shares of Philip Morris International by 3.2% in the 2nd quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock worth $291,000 after purchasing an additional 89 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Price Performance

Shares of Philip Morris International stock opened at $133.02 on Monday. The stock has a market cap of $206.82 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 2.33 and a beta of 0.54. The firm has a fifty day moving average price of $125.74 and a 200 day moving average price of $115.99. 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 for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $9.68 billion. During the same quarter last year, the business posted $1.67 EPS. The company’s revenue was up 8.4% on a year-over-year basis. As a group, equities analysts expect that Philip Morris International Inc. will post 6.51 EPS for the current 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 issued a $1.35 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 4.06%. Philip Morris International’s payout ratio is presently 85.71%.

Insiders Place Their Bets

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction 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 completion of the transaction, the insider now owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. The trade was a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the company’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 completion of the transaction, the chairman now owns 959,761 shares of the company’s stock, valued at approximately $124,624,965.85. This trade represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PM shares. Bank of America upped their target price on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Citigroup upped their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 target price (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Finally, Barclays boosted their price objective on shares of Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Philip Morris International presently has a consensus rating of “Moderate Buy” and a consensus 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.