Philip Morris International Inc. (NYSE:PM) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 1.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,914,977 shares of the company's stock after selling 383,982 shares during the period. JPMorgan Chase & Co. owned about 1.73% of Philip Morris International worth $3,267,478,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. White Lighthouse Investment Management Inc. boosted its holdings in shares of Philip Morris International by 71.4% in the third quarter. White Lighthouse Investment Management Inc. now owns 11,999 shares of the company's stock worth $1,457,000 after acquiring an additional 4,999 shares during the period. Accredited Investors Inc. grew its holdings in Philip Morris International by 3,553.3% during the 3rd quarter. Accredited Investors Inc. now owns 206,959 shares of the company's stock valued at $25,125,000 after buying an additional 201,294 shares in the last quarter. Kennebec Savings Bank bought a new stake in shares of Philip Morris International during the third quarter valued at about $692,000. Swiss National Bank lifted its holdings in shares of Philip Morris International by 0.4% in the third quarter. Swiss National Bank now owns 4,614,200 shares of the company's stock worth $560,164,000 after buying an additional 17,700 shares in the last quarter. Finally, Brooklyn Investment Group boosted its position in shares of Philip Morris International by 182.4% in the third quarter. Brooklyn Investment Group now owns 6,815 shares of the company's stock valued at $827,000 after acquiring an additional 4,402 shares during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Price Performance

Shares of Philip Morris International stock traded down $1.20 during trading on Thursday, hitting $121.71. The stock had a trading volume of 2,423,028 shares, compared to its average volume of 5,342,427. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $134.15. The firm's fifty day simple moving average is $128.17 and its 200-day simple moving average is $119.13. The stock has a market cap of $189.24 billion, a PE ratio of 19.32, a PEG ratio of 2.22 and a beta of 0.53.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.82 by $0.09. The company had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. Philip Morris International's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.67 EPS. Analysts expect that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, December 26th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend is Thursday, December 26th. Philip Morris International's payout ratio is 85.71%.

Insider Buying and Selling at Philip Morris International

In related news, insider Werner Barth sold 7,500 shares of the business'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 transaction of $974,850.00. Following the completion of the transaction, the insider now owns 95,418 shares in the company, valued at $12,402,431.64. The trade was a 7.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the company's stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total value of $13,234,052.30. Following the transaction, the chairman now directly owns 959,761 shares in the company, valued at approximately $124,624,965.85. The trade was a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on PM. Bank of America increased their price objective on Philip Morris International from $125.00 to $139.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. Citigroup boosted their price target on Philip Morris International from $118.50 to $132.00 and gave the stock a "buy" rating in a research 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 report on Wednesday, October 30th. The Goldman Sachs Group boosted their target price on Philip Morris International from $126.00 to $140.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Philip Morris International from $118.00 to $135.00 and gave the company a "buy" rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $131.50.

Philip Morris International Company 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.