Mutual of America Capital Management LLC Cuts Position in Philip Morris International Inc. (NYSE:PM)

Mutual of America Capital Management LLC lowered its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 3.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 214,227 shares of the company's stock after selling 6,537 shares during the period. Mutual of America Capital Management LLC's holdings in Philip Morris International were worth $26,007,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in PM. Capital World Investors increased its holdings in shares of Philip Morris International by 1.5% in the 1st quarter. Capital World Investors now owns 111,247,656 shares of the company's stock valued at $10,192,510,000 after purchasing an additional 1,684,992 shares in the last quarter. Capital Research Global Investors grew its position in Philip Morris International by 3.1% during the first quarter. Capital Research Global Investors now owns 60,217,039 shares of the company's stock worth $5,517,085,000 after buying an additional 1,800,864 shares during the period. Bank of New York Mellon Corp increased its holdings in 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. First Eagle Investment Management LLC lifted its position 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 valued at $1,079,767,000 after acquiring an additional 736,961 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of Philip Morris International by 4.7% during the 2nd quarter. Legal & General Group Plc now owns 10,430,837 shares of the company's stock valued at $1,056,957,000 after acquiring an additional 469,806 shares during the period. Hedge funds and other institutional investors own 78.63% of the company's stock.

Insider Activity 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 value of $974,850.00. Following the completion of the sale, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. The trade was a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 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 position. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PM. UBS Group raised their price objective on Philip Morris International from $103.00 to $105.00 and gave the company a "sell" rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group raised their price target on Philip Morris International from $126.00 to $140.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Bank of America lifted their price target on Philip Morris International from $125.00 to $139.00 and gave the stock a "buy" rating in a research note on Wednesday, September 4th. Barclays increased their price objective on shares of Philip Morris International from $145.00 to $155.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $131.50.

Philip Morris International Trading Up 0.3 %

Shares of Philip Morris International stock traded up $0.39 during mid-day trading on Friday, hitting $128.59. 9,066,012 shares of the stock were exchanged, compared to its average volume of 6,116,835. The stock has a market capitalization of $199.94 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 2.25 and a beta of 0.54. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15. The company has a 50-day simple moving average of $124.30 and a 200 day simple moving average of $113.57.

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

Philip Morris International Increases Dividend

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

About Philip Morris International

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.