Foyston Gordon & Payne Inc Has $23.01 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Foyston Gordon & Payne Inc decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 8.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 189,537 shares of the company's stock after selling 16,544 shares during the period. Philip Morris International makes up approximately 5.7% of Foyston Gordon & Payne Inc's holdings, making the stock its 2nd largest position. Foyston Gordon & Payne Inc's holdings in Philip Morris International were worth $23,010,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PM. FMR LLC lifted its position in Philip Morris International by 40.9% in the third 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. Massachusetts Financial Services Co. MA raised its stake in shares of Philip Morris International by 57.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company's stock worth $1,121,932,000 after buying an additional 3,363,454 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of 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. National Bank of Canada FI boosted its stake in shares of Philip Morris International by 161.6% in the third quarter. National Bank of Canada FI now owns 1,943,460 shares of the company's stock valued at $235,936,000 after buying an additional 1,200,636 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its position in Philip Morris International by 14,611.4% in the third quarter. Los Angeles Capital Management LLC now owns 1,173,531 shares of the company's stock worth $142,467,000 after acquiring an additional 1,165,554 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on PM shares. Citigroup increased 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. Barclays raised their price objective on Philip Morris International from $145.00 to $155.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Bank of America boosted their target price 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. JPMorgan Chase & Co. raised their price target on Philip Morris International from $125.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective 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 research analyst has rated the stock with a sell rating, two have assigned 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 target price of $131.50.

Philip Morris International Stock Performance

Philip Morris International stock traded up $0.27 during trading on Tuesday, reaching $128.98. 3,779,107 shares of the company's stock were exchanged, compared to its average volume of 5,331,922. The company's 50-day moving average is $126.86 and its two-hundred day moving average is $117.27. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $134.15. The firm has a market cap of $200.54 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 2.29 and a beta of 0.53.

Philip Morris International (NYSE:PM - Get Free Report) last issued 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. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The company had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. During the same quarter last year, the company earned $1.67 earnings per share. Philip Morris International's revenue for the quarter was up 8.4% on a year-over-year basis. Analysts anticipate that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were given a dividend of $1.35 per share. The ex-dividend date was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.19%. This is an increase from Philip Morris International's previous quarterly dividend of $1.30. Philip Morris International's dividend payout ratio (DPR) is presently 85.71%.

Insider Buying and Selling

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction dated 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 $124,624,965.85. This trade 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 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.