Anthracite Investment Company Inc. Sells 10,771 Shares of Philip Morris International Inc. (NYSE:PM)

Anthracite Investment Company Inc. trimmed its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 27.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,000 shares of the company's stock after selling 10,771 shares during the period. Philip Morris International accounts for approximately 1.5% of Anthracite Investment Company Inc.'s investment portfolio, making the stock its 22nd biggest position. Anthracite Investment Company Inc.'s holdings in Philip Morris International were worth $3,399,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PM. White Lighthouse Investment Management Inc. increased its stake in shares of 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 purchasing an additional 4,999 shares during the period. Accredited Investors Inc. grew its stake in shares of Philip Morris International by 3,553.3% in the third quarter. Accredited Investors Inc. now owns 206,959 shares of the company's stock valued at $25,125,000 after acquiring an additional 201,294 shares in the last quarter. Axxcess Wealth Management LLC raised its stake in Philip Morris International by 25.4% in the 1st quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company's stock worth $3,151,000 after purchasing an additional 6,974 shares in the last quarter. Kennebec Savings Bank bought a new stake in Philip Morris International in the 3rd quarter valued at about $692,000. Finally, Swiss National Bank grew its position in shares of Philip Morris International by 0.4% during the 3rd quarter. Swiss National Bank now owns 4,614,200 shares of the company's stock worth $560,164,000 after purchasing an additional 17,700 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the business's stock in a transaction on 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 completion of the transaction, the chairman now directly owns 959,761 shares in the company, valued at $124,624,965.85. The trade was a 9.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 value of $974,850.00. Following the sale, the insider now owns 95,418 shares of the company's stock, valued at approximately $12,402,431.64. This trade represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company's stock.

Philip Morris International Price Performance

Shares of Philip Morris International stock traded up $0.85 during trading on Wednesday, reaching $130.39. 3,780,205 shares of the company traded hands, compared to its average volume of 5,407,974. The company has a 50 day moving average price of $124.44 and a 200-day moving average price of $114.16. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $134.15. The firm has a market capitalization of $202.73 billion, a PE ratio of 20.56, a P/E/G ratio of 2.25 and a beta of 0.54.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 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 business had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. During the same quarter in the previous year, the business posted $1.67 EPS. Philip Morris International's quarterly revenue was up 8.4% on a year-over-year basis. Equities research analysts expect 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 disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were given a $1.35 dividend. The ex-dividend date was Thursday, September 26th. This represents a $5.40 annualized dividend and a yield of 4.14%. This is a boost from Philip Morris International's previous quarterly dividend of $1.30. Philip Morris International's payout ratio is currently 85.71%.

Analysts Set New Price Targets

PM has been the topic of several analyst reports. UBS Group increased their target price on Philip Morris International from $103.00 to $105.00 and gave the stock a "sell" rating in a report on Wednesday, October 23rd. Citigroup raised their target price 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. Deutsche Bank Aktiengesellschaft upped 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 lifted their price objective on shares of Philip Morris International from $126.00 to $140.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. Finally, Bank of America upped their target price on 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 research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average 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.