Philip Morris International Inc. (NYSE:PM) Stock Position Cut by Venture Visionary Partners LLC

Venture Visionary Partners LLC trimmed its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 18.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,380 shares of the company's stock after selling 6,943 shares during the quarter. Venture Visionary Partners LLC's holdings in Philip Morris International were worth $3,810,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Iron Horse Wealth Management LLC lifted its holdings in Philip Morris International by 684.4% in the 2nd 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 during the last quarter. Sachetta LLC boosted its holdings in Philip Morris International by 64.8% during the second quarter. Sachetta LLC now owns 267 shares of the company's stock worth $27,000 after buying an additional 105 shares in the last quarter. Fortitude Family Office LLC grew its position in Philip Morris International by 57.4% in the second quarter. Fortitude Family Office LLC now owns 318 shares of the company's stock worth $32,000 after buying an additional 116 shares during the last quarter. Olistico Wealth LLC bought a new position in shares of Philip Morris International in the second quarter valued at $34,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Philip Morris International during the 2nd quarter valued at $42,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PM has been the subject of several analyst reports. Citigroup upped their target price on Philip Morris International from $118.50 to $132.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the company a "buy" rating in a report on Tuesday, October 1st. Stifel Nicolaus raised their price objective on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a "buy" rating in a research note on Wednesday, September 4th. Barclays boosted their target price on shares of Philip Morris International from $130.00 to $145.00 and gave the company an "overweight" rating in a research note on Monday, September 9th. Finally, JPMorgan Chase & Co. lifted their price target on Philip Morris International from $110.00 to $125.00 and gave the company an "overweight" rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $123.95.

Philip Morris International Stock Down 1.0 %

Shares of PM traded down $1.25 during midday trading on Monday, reaching $118.96. 5,578,065 shares of the stock were exchanged, compared to its average volume of 5,322,441. The company has a market cap of $184.93 billion, a price-to-earnings ratio of 23.48, a P/E/G ratio of 2.35 and a beta of 0.55. The firm has a 50 day simple moving average of $121.35 and a 200-day simple moving average of $108.62. Philip Morris International Inc. has a 12-month low of $87.23 and a 12-month high of $128.22.

Philip Morris International (NYSE:PM - Get Free Report) last posted its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $0.02. The firm had revenue of $9.47 billion during the quarter, compared to analysts' expectations of $9.19 billion. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The company's revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.60 earnings per share. Research analysts expect that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were issued a dividend of $1.35 per share. This is a positive change from Philip Morris International's previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International's dividend payout ratio (DPR) is 105.47%.

Insiders Place Their Bets

In related news, insider Massimo Andolina sold 9,000 shares of the firm's stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the transaction, the insider now directly owns 85,629 shares of the company's stock, valued at approximately $9,877,305.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Massimo Andolina sold 9,000 shares of the company's stock in a transaction on Thursday, August 8th. The shares were 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 directly owns 85,629 shares of the company's stock, valued at approximately $9,877,305.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of the transaction, the insider now owns 158,447 shares in the company, valued at $17,906,095.47. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

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.

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