Philip Morris International Inc. (NYSE:PM) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 760,458 shares of the company's stock after selling 8,151 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Philip Morris International were worth $92,320,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Valley Wealth Managers Inc. raised its stake in shares of Philip Morris International by 457.5% during the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company's stock worth $27,000 after acquiring an additional 183 shares in the last quarter. Dunhill Financial LLC increased its stake in Philip Morris International by 203.8% during the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company's stock valued at $29,000 after purchasing an additional 161 shares in the last quarter. 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 purchasing an additional 219 shares in the last quarter. Sachetta LLC increased its stake 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 purchasing an additional 105 shares in the last quarter. Finally, Concord Wealth Partners increased its stake in shares of Philip Morris International by 2,709.1% in the third quarter. Concord Wealth Partners now owns 309 shares of the company's stock worth $38,000 after acquiring an additional 298 shares during the period. Institutional investors own 78.63% of the company's stock.

Insider Transactions at Philip Morris International

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the firm's stock in a transaction dated Wednesday, October 23rd. The shares were 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 trade represents a 9.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Werner Barth sold 7,500 shares of the firm's 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 sale, the insider now owns 95,418 shares of the company's stock, 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. Insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

PM has been the topic of a number of research reports. Barclays increased their price objective on shares of Philip Morris International from $145.00 to $155.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Stifel Nicolaus reiterated a "buy" rating and issued a $145.00 price objective (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Citigroup increased their price objective 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. The Goldman Sachs Group increased their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. Finally, JPMorgan Chase & Co. increased their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $131.50.

Philip Morris International Trading Down 1.7 %

PM traded down $2.19 during midday trading on Monday, hitting $128.37. 2,303,388 shares of the company traded hands, compared to its average volume of 5,332,300. The company has a market capitalization of $199.59 billion, a price-to-earnings ratio of 20.72, a PEG ratio of 2.29 and a beta of 0.53. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $134.15. The business has a 50 day simple moving average of $126.72 and a two-hundred day simple moving average of $117.06.

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, beating the consensus estimate of $1.82 by $0.09. The business had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The company's revenue was up 8.4% compared to the same quarter last year. During the same period last year, the firm posted $1.67 earnings per share. 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 declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were paid a $1.35 dividend. This is an increase from Philip Morris International's previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend 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.