MAI Capital Management Trims Stock Position in Philip Morris International Inc. (NYSE:PM)

MAI Capital Management lowered its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 15.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 65,637 shares of the company's stock after selling 12,358 shares during the quarter. MAI Capital Management's holdings in Philip Morris International were worth $7,968,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Iron Horse Wealth Management LLC increased its stake in shares of 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 during the period. Strategic Financial Concepts LLC purchased a new position in Philip Morris International during the 2nd quarter valued at $25,000. Sachetta LLC raised its holdings in Philip Morris International by 64.8% in the 2nd quarter. Sachetta LLC now owns 267 shares of the company's stock worth $27,000 after purchasing an additional 105 shares in the last quarter. Valley Wealth Managers Inc. lifted its position in shares of Philip Morris International by 457.5% in the 3rd 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 period. Finally, Fortitude Family Office LLC boosted its stake in shares of Philip Morris International by 57.4% during the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company's stock valued at $32,000 after purchasing an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Insider Activity

In related news, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction dated 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 directly owns 95,418 shares of the company's stock, valued at approximately $12,402,431.64. The trade was a 7.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the firm'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 value of $13,234,052.30. Following the sale, the chairman now directly owns 959,761 shares of the company's stock, valued at $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. Company insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

PM has been the subject of several research analyst reports. Bank of America raised their price objective on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. JPMorgan Chase & Co. upped their price target on Philip Morris International from $125.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. Citigroup increased their price objective on Philip Morris International from $118.50 to $132.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. StockNews.com raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Monday, July 22nd. Finally, Stifel Nicolaus reissued a "buy" rating and set a $145.00 price objective (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $131.50.

Philip Morris International Price Performance

Shares of PM traded down $2.18 during trading hours on Tuesday, hitting $129.54. The stock had a trading volume of 5,473,189 shares, compared to its average volume of 5,413,447. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $134.15. The firm has a market capitalization of $201.41 billion, a PE ratio of 20.91, a PEG ratio of 2.25 and a beta of 0.54. The stock has a fifty day moving average price of $124.39 and a 200 day moving average price of $113.94.

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

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were paid a $1.35 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 annualized dividend and a yield of 4.17%. This is a boost from Philip Morris International's previous quarterly dividend of $1.30. Philip Morris International's payout ratio is presently 85.71%.

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.