Toronto Dominion Bank Sells 111,195 Shares of Philip Morris International Inc. (NYSE:PM)

Toronto Dominion Bank lessened its position in shares of Philip Morris International Inc. (NYSE:PM) by 11.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 838,943 shares of the company’s stock after selling 111,195 shares during the period. Toronto Dominion Bank owned about 0.05% of Philip Morris International worth $101,848,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Iron Horse Wealth Management LLC boosted its position in 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 purchasing an additional 219 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of Philip Morris International in the 2nd quarter valued at approximately $25,000. Sachetta LLC boosted its stake in Philip Morris International by 64.8% in the second quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after buying an additional 105 shares in the last quarter. Valley Wealth Managers Inc. grew its stake in shares of Philip Morris International by 457.5% during the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock worth $27,000 after buying an additional 183 shares during the last quarter. Finally, Dunhill Financial LLC raised its holdings in Philip Morris International by 203.8% in the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock valued at $29,000 after buying an additional 161 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

PM has been the subject of several recent analyst reports. UBS Group raised their target price on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research note on Wednesday, October 23rd. Bank of America lifted their price target on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft raised 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 report on Tuesday, October 1st. 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. Finally, Stifel Nicolaus restated 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $131.50.

Philip Morris International Stock Performance

NYSE:PM opened at $128.99 on Wednesday. The stock has a 50-day simple moving average of $126.86 and a two-hundred day simple moving average of $117.27. The firm has a market capitalization of $200.56 billion, a PE ratio of 20.47, a P/E/G ratio of 2.29 and a beta of 0.53. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $134.15.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping 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 company had revenue of $9.91 billion for the quarter, compared to analysts’ expectations of $9.68 billion. During the same period in the previous year, the firm earned $1.67 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. Equities analysts forecast that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently disclosed 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. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.19%. The ex-dividend date was Thursday, September 26th. Philip Morris International’s payout ratio is presently 85.71%.

Insider Activity

In other news, insider Werner Barth sold 7,500 shares of Philip Morris International 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 completion of the sale, 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 legal filing with the SEC, which is accessible through this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total value of $13,234,052.30. Following the transaction, the chairman now owns 959,761 shares in the company, valued at $124,624,965.85. The trade was a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

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.