Philip Morris International Inc. (NYSE:PM) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 8.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 46,034 shares of the company's stock after selling 4,107 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in Philip Morris International were worth $5,589,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Valley Wealth Managers Inc. grew its holdings in Philip Morris International by 457.5% in 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. Iron Horse Wealth Management LLC grew its stake in Philip Morris International by 684.4% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company's stock worth $25,000 after buying an additional 219 shares during the last quarter. Sachetta LLC increased its position in 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 buying an additional 105 shares in the last quarter. Concord Wealth Partners raised its stake in Philip Morris International by 2,709.1% in the third quarter. Concord Wealth Partners now owns 309 shares of the company's stock valued at $38,000 after buying an additional 298 shares during the last quarter. Finally, Fortitude Family Office LLC grew its stake 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 worth $32,000 after acquiring an additional 116 shares during the last quarter. Institutional investors own 78.63% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on PM. StockNews.com upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Monday, July 22nd. Bank of America boosted their price objective on shares of Philip Morris International from $125.00 to $139.00 and gave the company a "buy" rating in a report on Wednesday, September 4th. Stifel Nicolaus restated a "buy" rating and issued a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Citigroup boosted their price target 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. Finally, UBS Group raised their price objective on Philip Morris International from $103.00 to $105.00 and gave the stock a "sell" rating in a research note on Wednesday, October 23rd. One 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's stock. Based on data from MarketBeat.com, Philip Morris International presently has a consensus rating of "Moderate Buy" and an average target price of $127.85.

Philip Morris International Price Performance

PM stock traded up $0.39 during trading on Friday, hitting $128.59. 9,066,012 shares of the company traded hands, compared to its average volume of 5,415,458. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $134.15. The stock's 50-day simple moving average is $124.30 and its 200 day simple moving average is $113.44. The company has a market cap of $199.94 billion, a PE ratio of 20.41, a P/E/G ratio of 2.19 and a beta of 0.54.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly 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. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The firm had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. During the same period in the prior year, the firm posted $1.67 earnings per share. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. Research analysts expect that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently disclosed 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 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 4.20%. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International's dividend payout ratio (DPR) is presently 85.71%.

Insider Activity

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the 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 completion of the transaction, the chairman now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Werner Barth sold 7,500 shares of the firm'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 transaction, the insider now owns 95,418 shares in the company, valued at approximately $12,402,431.64. This trade represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.

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.