Euro Pacific Asset Management LLC Decreases Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Euro Pacific Asset Management LLC trimmed its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 35.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 96,527 shares of the company's stock after selling 51,929 shares during the period. Philip Morris International accounts for 2.1% of Euro Pacific Asset Management LLC's investment portfolio, making the stock its 19th biggest position. Euro Pacific Asset Management LLC's holdings in Philip Morris International were worth $11,721,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Capital World Investors lifted its holdings in shares of Philip Morris International by 1.5% during the 1st quarter. Capital World Investors now owns 111,247,656 shares of the company's stock worth $10,192,510,000 after acquiring an additional 1,684,992 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Philip Morris International by 3.1% during the 1st quarter. Capital Research Global Investors now owns 60,217,039 shares of the company's stock worth $5,517,085,000 after acquiring an additional 1,800,864 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Philip Morris International by 16.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company's stock worth $1,341,050,000 after acquiring an additional 1,856,551 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of Philip Morris International by 7.4% during the 2nd 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 last quarter. Finally, Legal & General Group Plc raised its position in Philip Morris International by 4.7% in the 2nd quarter. Legal & General Group Plc now owns 10,430,837 shares of the company's stock worth $1,056,957,000 after purchasing an additional 469,806 shares during the period. 78.63% of the stock is owned by institutional investors.

Philip Morris International Stock Up 0.3 %

Shares of PM traded up $0.39 during trading hours on Friday, reaching $128.59. 9,066,012 shares of the company traded hands, compared to its average volume of 5,415,458. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $134.15. The company's fifty day moving average price is $124.30 and its two-hundred day moving average price is $113.44. The company has a market capitalization of $199.94 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 2.19 and a beta of 0.54.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $9.68 billion. During the same quarter in the previous year, the firm posted $1.67 earnings per share. Philip Morris International's quarterly revenue was up 8.4% on a year-over-year basis. On average, analysts expect that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 annualized dividend and a yield of 4.20%. This is a positive change from Philip Morris International's previous quarterly dividend of $1.30. Philip Morris International's payout ratio is presently 85.71%.

Insider Buying and Selling

In other news, insider Werner Barth sold 7,500 shares of the company's stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the transaction, the insider now owns 95,418 shares in the company, valued at approximately $12,402,431.64. This represents a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the company's stock in a transaction that occurred on 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 in the company, valued at approximately $124,624,965.85. This represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. lifted 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 report on Wednesday, October 23rd. Citigroup lifted their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. Bank of America lifted their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a "buy" rating in a research report on Wednesday, September 4th. Stifel Nicolaus reiterated a "buy" rating and issued a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a "buy" rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $127.85.

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.