Ferguson Wellman Capital Management Inc. Sells 57,246 Shares of Philip Morris International Inc. (NYSE:PM)

Ferguson Wellman Capital Management Inc. decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 9.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 535,116 shares of the company's stock after selling 57,246 shares during the period. Philip Morris International accounts for 1.4% of Ferguson Wellman Capital Management Inc.'s portfolio, making the stock its 21st largest position. Ferguson Wellman Capital Management Inc.'s holdings in Philip Morris International were worth $64,963,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PM. Iron Horse Wealth Management LLC increased its position 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 acquiring an additional 219 shares in the last quarter. Sachetta LLC increased its position in shares of Philip Morris International by 64.8% during the second 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. Fortitude Family Office LLC increased its position in shares of Philip Morris International by 57.4% during the second quarter. Fortitude Family Office LLC now owns 318 shares of the company's stock valued at $32,000 after acquiring an additional 116 shares in the last quarter. Olistico Wealth LLC purchased a new stake in Philip Morris International in the second quarter worth approximately $34,000. Finally, Hobbs Group Advisors LLC purchased a new stake in Philip Morris International in the second quarter worth approximately $42,000. Institutional investors own 78.63% of the company's stock.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total value of $1,038,150.00. Following the sale, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Wilde Frederic De sold 20,000 shares of the business's stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $113.01, for a total value of $2,260,200.00. Following the sale, the insider now directly owns 158,447 shares in the company, valued at $17,906,095.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Massimo Andolina sold 9,000 shares of the business's stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the sale, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. This trade represents a 0.00 % 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 insiders.

Philip Morris International Trading Up 0.1 %

Shares of PM traded up $0.07 during trading hours on Friday, reaching $120.21. 4,046,070 shares of the stock traded hands, compared to its average volume of 5,321,175. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $128.22. The company's 50-day moving average price is $121.35 and its two-hundred day moving average price is $108.50. The company has a market cap of $186.87 billion, a P/E ratio of 23.48, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55.

Philip Morris International (NYSE:PM - Get Free Report) last released its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, beating analysts' consensus estimates of $1.57 by $0.02. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The company had revenue of $9.47 billion for the quarter, compared to analysts' expectations of $9.19 billion. During the same quarter in the previous year, the company earned $1.60 EPS. Philip Morris International's revenue for the quarter was up 5.6% on a year-over-year basis. On average, research analysts forecast that Philip Morris International Inc. will post 6.45 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. Shareholders of record on Thursday, September 26th were issued a $1.35 dividend. This is an increase from Philip Morris International's previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date was Thursday, September 26th. Philip Morris International's payout ratio is currently 105.47%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PM shares. JPMorgan Chase & Co. raised their target price on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an "overweight" rating in a report on Thursday, July 25th. Barclays raised their target price on shares of Philip Morris International from $130.00 to $145.00 and gave the stock an "overweight" rating in a report on Monday, September 9th. StockNews.com upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a report on Monday, July 22nd. Stifel Nicolaus raised their target price on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. Finally, Citigroup lifted their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $123.95.

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.