Logan Capital Management Inc. Has $15.91 Million Stake in Philip Morris International Inc. (NYSE:PM)

Logan Capital Management Inc. reduced its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 8.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 131,089 shares of the company's stock after selling 11,397 shares during the quarter. Logan Capital Management Inc.'s holdings in Philip Morris International were worth $15,914,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Iron Horse Wealth Management LLC raised its stake in Philip Morris International by 684.4% during the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company's stock valued at $25,000 after buying an additional 219 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Philip Morris International in the 2nd quarter valued at approximately $25,000. Sachetta LLC raised 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 in the last quarter. Valley Wealth Managers Inc. lifted its stake in Philip Morris International by 457.5% during the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company's stock worth $27,000 after purchasing an additional 183 shares during the last quarter. Finally, Dunhill Financial LLC boosted its holdings in Philip Morris International by 203.8% in the third quarter. Dunhill Financial LLC now owns 240 shares of the company's stock worth $29,000 after purchasing an additional 161 shares during the period. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PM has been the topic of a number of research reports. JPMorgan Chase & Co. increased their target price on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Citigroup lifted their target price 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. UBS Group upped their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a "sell" rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their target price on Philip Morris International from $118.00 to $135.00 and gave the company a "buy" rating in a research note on Tuesday, October 1st. Finally, 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 research report on Thursday, September 26th. One equities research 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 stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $131.50.

Insider Activity at Philip Morris International

In other news, insider Werner Barth sold 7,500 shares of Philip Morris International 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction of $13,234,052.30. Following the sale, the chairman now directly owns 959,761 shares of the company's stock, valued at approximately $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. 0.13% of the stock is currently owned by company insiders.

Philip Morris International Price Performance

Philip Morris International stock traded down $0.38 during midday trading on Friday, reaching $126.62. The stock had a trading volume of 3,233,184 shares, compared to its average volume of 5,347,094. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15. The firm has a market cap of $196.87 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 2.22 and a beta of 0.53. The firm's fifty day simple moving average is $127.50 and its two-hundred day simple moving average is $117.79.

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 the consensus estimate of $1.82 by $0.09. The business 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%. Philip Morris International's revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.67 earnings per share. As a group, sell-side analysts predict that Philip Morris International Inc. will post 6.51 EPS for the current fiscal 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 issued a dividend of $1.35 per share. The ex-dividend date is Thursday, December 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.26%. Philip Morris International's dividend payout ratio is 85.71%.

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.