Claro Advisors LLC Trims Stock Position in Philip Morris International Inc. (NYSE:PM)

Claro Advisors LLC trimmed its holdings in Philip Morris International Inc. (NYSE:PM) by 9.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 7,139 shares of the company’s stock after selling 717 shares during the quarter. Claro Advisors LLC’s holdings in Philip Morris International were worth $867,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of Philip Morris International in the third quarter valued at about $1,135,000. GoalVest Advisory LLC raised its holdings in shares of Philip Morris International by 2.3% in the third quarter. GoalVest Advisory LLC now owns 9,807 shares of the company’s stock valued at $1,191,000 after buying an additional 225 shares during the last quarter. BCGM Wealth Management LLC raised its holdings in Philip Morris International by 8.8% during the third quarter. BCGM Wealth Management LLC now owns 24,228 shares of the company’s stock worth $2,941,000 after purchasing an additional 1,960 shares in the last quarter. Veery Capital LLC purchased a new position in Philip Morris International during the third quarter worth about $239,000. Finally, Kinsale Capital Group Inc. raised its holdings in Philip Morris International by 14.6% during the third quarter. Kinsale Capital Group Inc. now owns 60,608 shares of the company’s stock worth $7,358,000 after purchasing an additional 7,741 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Price Performance

PM stock opened at $128.59 on Monday. The company’s 50 day simple moving average is $124.30 and its 200-day simple moving average is $113.69. The firm has a market capitalization of $199.94 billion, a PE ratio of 20.41, a P/E/G ratio of 2.25 and a beta of 0.54. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $134.15.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.82 by $0.09. The business had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.67 earnings per share. As a group, sell-side analysts anticipate that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were given a $1.35 dividend. 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. This represents a $5.40 annualized dividend and a dividend yield of 4.20%. Philip Morris International’s dividend payout ratio is currently 85.71%.

Analyst Ratings Changes

Several research analysts recently issued reports on PM shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. The Goldman Sachs Group increased their price target 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. JPMorgan Chase & Co. increased their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Finally, Barclays upped their target price on shares of Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $131.50.

Insider Buying and Selling

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the transaction, the insider now owns 95,418 shares of the company’s stock, valued at $12,402,431.64. This trade represents a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction that occurred on 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 transaction, the chairman now directly owns 959,761 shares in the company, valued at approximately $124,624,965.85. This represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

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.