Philip Morris International Inc. (NYSE:PM) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. trimmed its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 9.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 93,918 shares of the company's stock after selling 10,226 shares during the quarter. D.A. Davidson & CO.'s holdings in Philip Morris International were worth $11,402,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of Philip Morris International by 40.9% in the 3rd quarter. FMR LLC now owns 23,168,446 shares of the company's stock valued at $2,812,649,000 after purchasing an additional 6,721,094 shares during the period. Bank of New York Mellon Corp increased its holdings in Philip Morris International by 16.3% in the second quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company's stock valued at $1,341,050,000 after buying an additional 1,856,551 shares in the last quarter. First Eagle Investment Management LLC raised its position in shares of Philip Morris International by 7.4% in the second quarter. First Eagle Investment Management LLC now owns 10,655,948 shares of the company's stock worth $1,079,767,000 after acquiring an additional 736,961 shares during the period. Legal & General Group Plc boosted its stake in shares of Philip Morris International by 4.7% during the 2nd quarter. Legal & General Group Plc now owns 10,430,837 shares of the company's stock worth $1,056,957,000 after acquiring an additional 469,806 shares in the last quarter. Finally, Ninety One UK Ltd grew its position in shares of Philip Morris International by 0.9% during the 2nd quarter. Ninety One UK Ltd now owns 9,467,759 shares of the company's stock valued at $959,368,000 after acquiring an additional 86,667 shares during the period. 78.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PM shares. Bank of America increased their price target on Philip Morris International from $125.00 to $139.00 and gave the stock a "buy" rating in a research report on Wednesday, September 4th. UBS Group increased their target price on Philip Morris International from $103.00 to $105.00 and gave the company a "sell" rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group boosted 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. 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 report on Tuesday, October 1st. Finally, Stifel Nicolaus reissued a "buy" rating and set a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. One 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, the company has an average rating of "Moderate Buy" and an average target price of $131.50.

Philip Morris International Trading Down 0.3 %

PM stock traded down $0.46 during mid-day trading on Wednesday, reaching $131.82. The company's stock had a trading volume of 3,532,864 shares, compared to its average volume of 5,375,592. The stock has a market cap of $204.96 billion, a PE ratio of 20.92, a P/E/G ratio of 2.29 and a beta of 0.54. The company's 50 day moving average is $125.26 and its two-hundred day moving average is $115.42. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $134.15.

Philip Morris International (NYSE:PM - Get Free Report) last posted 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 firm had revenue of $9.91 billion during the quarter, compared to analysts' expectations of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The business's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.67 earnings per share. On average, 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were issued a $1.35 dividend. The ex-dividend date was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.10%. This is a positive change from Philip Morris International's previous quarterly dividend of $1.30. Philip Morris International's dividend payout ratio is currently 85.71%.

Insider Buying and Selling

In related news, insider Werner Barth sold 7,500 shares of the business's stock in a transaction on Wednesday, October 23rd. The stock was 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 in the company, valued at approximately $12,402,431.64. The trade was a 7.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at approximately $124,624,965.85. The trade was a 9.60 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.

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.