Philip Morris International Inc. (NYSE:PM) Stake Decreased by Advisors Asset Management Inc.

Advisors Asset Management Inc. lessened its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 11.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 123,461 shares of the company's stock after selling 15,546 shares during the period. Advisors Asset Management Inc.'s holdings in Philip Morris International were worth $14,988,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. White Lighthouse Investment Management Inc. boosted its stake in Philip Morris International by 71.4% during the third quarter. White Lighthouse Investment Management Inc. now owns 11,999 shares of the company's stock worth $1,457,000 after buying an additional 4,999 shares during the period. Accredited Investors Inc. grew its stake in shares of Philip Morris International by 3,553.3% during the third quarter. Accredited Investors Inc. now owns 206,959 shares of the company's stock worth $25,125,000 after purchasing an additional 201,294 shares in the last quarter. Axxcess Wealth Management LLC boosted its holdings in Philip Morris International by 25.4% in the first quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company's stock valued at $3,151,000 after purchasing an additional 6,974 shares in the last quarter. Kennebec Savings Bank acquired a new position in shares of Philip Morris International in the 3rd quarter valued at $692,000. Finally, Swiss National Bank lifted its position in Philip Morris International by 0.4% in the third quarter. Swiss National Bank now owns 4,614,200 shares of the company's stock valued at $560,164,000 after acquiring an additional 17,700 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

Philip Morris International Stock Up 0.7 %

Shares of PM stock traded up $0.85 during mid-day trading on Wednesday, hitting $130.39. 4,172,696 shares of the company's stock were exchanged, compared to its average volume of 5,407,974. The stock has a market cap of $202.73 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 2.25 and a beta of 0.54. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $134.15. The stock has a 50-day simple moving average of $124.44 and a two-hundred day simple moving average of $114.16.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.09. The company had revenue of $9.91 billion during the quarter, compared to analysts' expectations of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The business's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.67 EPS. As a group, 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 business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were paid a $1.35 dividend. 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 4.14%. This is a positive change from Philip Morris International's previous quarterly dividend of $1.30. Philip Morris International's dividend payout ratio (DPR) is 85.71%.

Insider Buying and Selling

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the company's stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total value of $13,234,052.30. Following the sale, the chairman now directly owns 959,761 shares of the company's stock, valued at $124,624,965.85. This represents a 9.60 % 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, insider Werner Barth sold 7,500 shares of the firm's stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total transaction of $974,850.00. Following the transaction, the insider now directly owns 95,418 shares of the company's stock, valued at approximately $12,402,431.64. This represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PM has been the subject of several recent research reports. Barclays increased 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 note on Wednesday, October 30th. Stifel Nicolaus restated a "buy" rating and set a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted 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. JPMorgan Chase & Co. raised their target price on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. Finally, Bank of America boosted their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a "buy" rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $131.50.

Philip Morris International Company 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.