Philip Morris International Inc. (NYSE:PM) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. cut its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 23.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,608 shares of the company's stock after selling 7,345 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Philip Morris International were worth $2,885,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PM. Valley Wealth Managers Inc. grew its position 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 valued at $27,000 after purchasing an additional 183 shares in the last quarter. Dunhill Financial LLC grew its holdings in Philip Morris International by 203.8% during 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 in the last quarter. Iron Horse Wealth Management LLC increased its stake in Philip Morris International by 684.4% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company's stock worth $25,000 after acquiring an additional 219 shares during the last quarter. Sachetta LLC boosted its position in shares of Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company's stock valued at $27,000 after acquiring an additional 105 shares during the last quarter. Finally, Concord Wealth Partners grew its holdings in shares of Philip Morris International by 2,709.1% in the third quarter. Concord Wealth Partners now owns 309 shares of the company's stock valued at $38,000 after purchasing an additional 298 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Werner Barth sold 7,500 shares of the firm's stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total transaction of $974,850.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the business'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 $124,624,965.85. This represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

Philip Morris International Trading Down 0.5 %

Shares of PM traded down $0.68 during trading hours on Monday, reaching $125.94. 5,272,593 shares of the company traded hands, compared to its average volume of 5,347,472. The firm has a market cap of $195.82 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 2.22 and a beta of 0.53. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $134.15. The stock's fifty day moving average price is $127.50 and its 200 day moving average price is $118.04.

Philip Morris International (NYSE:PM - Get Free Report) last issued its 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 net margin of 10.35% and a negative return on equity of 117.94%. The business had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. During the same period in the prior year, the firm earned $1.67 EPS. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. On average, research analysts forecast that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, December 26th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date is Thursday, December 26th. Philip Morris International's payout ratio is 85.71%.

Analyst Ratings Changes

Several equities analysts have commented on PM shares. Deutsche Bank Aktiengesellschaft increased 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. Stifel Nicolaus reaffirmed a "buy" rating and issued a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. The Goldman Sachs Group boosted their price objective on Philip Morris International from $126.00 to $140.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. Citigroup raised their price objective on Philip Morris International from $118.50 to $132.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. Finally, Bank of America increased their price target on Philip Morris International from $125.00 to $139.00 and gave the company a "buy" rating in a report 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 company's stock. According to MarketBeat.com, Philip Morris International currently has a consensus rating of "Moderate Buy" and a consensus price target of $131.50.

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.