Premier Fund Managers Ltd Cuts Stock Position in Philip Morris International Inc. (NYSE:PM)

Premier Fund Managers Ltd reduced its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 11.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 59,072 shares of the company's stock after selling 7,329 shares during the quarter. Premier Fund Managers Ltd's holdings in Philip Morris International were worth $7,123,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Iron Horse Wealth Management LLC raised 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 period. Strategic Financial Concepts LLC acquired a new position in shares of Philip Morris International during the second quarter worth approximately $25,000. Sachetta LLC lifted 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 worth $27,000 after purchasing an additional 105 shares in the last quarter. Valley Wealth Managers Inc. grew its position in Philip Morris International by 457.5% in the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company's stock valued at $27,000 after purchasing an additional 183 shares during the period. Finally, Fortitude Family Office LLC increased its stake in Philip Morris International by 57.4% during the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company's stock valued at $32,000 after purchasing an additional 116 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Philip Morris International

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the company's 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 directly owns 959,761 shares in the company, valued at $124,624,965.85. This represents a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Werner Barth sold 7,500 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total transaction 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 disclosure for this sale can be found here. Corporate insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PM. Stifel Nicolaus reissued a "buy" rating and set a $145.00 target price (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. UBS Group boosted their price objective on Philip Morris International from $103.00 to $105.00 and gave the stock a "sell" rating in a report on Wednesday, October 23rd. The Goldman Sachs Group raised their target price on Philip Morris International from $126.00 to $140.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Citigroup upped their price target on Philip Morris International from $118.50 to $132.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Philip Morris International from $118.00 to $135.00 and gave the company a "buy" rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Philip Morris International currently has a consensus rating of "Moderate Buy" and an average price target of $131.50.

Philip Morris International Price Performance

Shares of NYSE PM traded up $1.19 during mid-day trading on Wednesday, reaching $130.73. 1,119,928 shares of the company's stock were exchanged, compared to its average volume of 5,393,745. The firm has a 50-day moving average price of $124.44 and a two-hundred day moving average price of $114.16. The firm has a market capitalization of $203.26 billion, a price-to-earnings ratio of 20.56, a price-to-earnings-growth ratio of 2.25 and a beta of 0.54. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $134.15.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping the consensus estimate 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 business had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.68 billion. During the same quarter in the previous year, the firm posted $1.67 earnings per share. The company's revenue for the quarter was up 8.4% on a year-over-year basis. As a group, sell-side analysts forecast that Philip Morris International Inc. will post 6.51 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were given 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 4.13%. The ex-dividend date was Thursday, September 26th. Philip Morris International's dividend payout ratio (DPR) is currently 85.71%.

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.