Philip Morris International Inc. (NYSE:PM) Shares Sold by Investment Management Associates Inc. ADV

Investment Management Associates Inc. ADV reduced its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 6.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,977 shares of the company's stock after selling 9,799 shares during the quarter. Philip Morris International comprises approximately 6.4% of Investment Management Associates Inc. ADV's portfolio, making the stock its 7th largest holding. Investment Management Associates Inc. ADV's holdings in Philip Morris International were worth $16,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Iron Horse Wealth Management LLC increased 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 valued at $25,000 after buying an additional 219 shares during the period. Strategic Financial Concepts LLC bought a new stake in Philip Morris International during the 2nd quarter worth approximately $25,000. Sachetta LLC boosted its holdings in shares of Philip Morris International by 64.8% in the 2nd quarter. Sachetta LLC now owns 267 shares of the company's stock valued at $27,000 after buying an additional 105 shares during the last quarter. Fortitude Family Office LLC increased its position in Philip Morris International by 57.4% during the 2nd 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 period. Finally, Olistico Wealth LLC bought a new position in shares of Philip Morris International in the second quarter worth $34,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Insiders Place Their Bets

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction dated 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 transaction, the chairman now directly owns 959,761 shares of the company's stock, valued at approximately $124,624,965.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Werner Barth sold 7,500 shares of the firm's stock in a transaction dated 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 owns 95,418 shares in the company, valued at $12,402,431.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction dated 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 sale, the chairman now owns 959,761 shares of the company's stock, valued at approximately $124,624,965.85. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.

Philip Morris International Stock Performance

PM traded down $0.76 during midday trading on Tuesday, hitting $124.19. The stock had a trading volume of 3,835,984 shares, compared to its average volume of 5,394,396. The company has a market cap of $193.09 billion, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 2.21 and a beta of 0.54. The business has a fifty day moving average of $124.24 and a 200 day moving average of $112.81. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $134.15.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.67 earnings per share. On average, equities research analysts anticipate 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. Investors of record on Thursday, September 26th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.35%. 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%.

Wall Street Analyst Weigh In

PM has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price 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. Stifel Nicolaus restated a "buy" rating and set a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. 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 report on Wednesday, October 23rd. Barclays boosted their target price on Philip Morris International from $145.00 to $155.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Finally, Bank of America upped their price objective on shares of Philip Morris International from $125.00 to $139.00 and gave the company a "buy" rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Philip Morris International has an average rating of "Moderate Buy" and a consensus price target of $127.85.

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.