Toronto Dominion Bank Decreases Position in Philip Morris International Inc. (NYSE:PM)

Toronto Dominion Bank reduced its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 11.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 838,943 shares of the company's stock after selling 111,195 shares during the quarter. Toronto Dominion Bank owned 0.05% of Philip Morris International worth $101,848,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PM. Lantz Financial LLC grew its holdings in Philip Morris International by 2.8% in the second quarter. Lantz Financial LLC now owns 5,651 shares of the company's stock valued at $573,000 after purchasing an additional 153 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Philip Morris International by 28.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 291,214 shares of the company's stock worth $29,509,000 after acquiring an additional 64,742 shares during the last quarter. ORG Partners LLC boosted its stake in shares of Philip Morris International by 168.0% in the second quarter. ORG Partners LLC now owns 9,170 shares of the company's stock worth $929,000 after acquiring an additional 5,748 shares during the last quarter. GPS Wealth Strategies Group LLC boosted its stake in shares of Philip Morris International by 2.5% in the second quarter. GPS Wealth Strategies Group LLC now owns 5,445 shares of the company's stock worth $552,000 after acquiring an additional 133 shares during the last quarter. Finally, Cornerstone Wealth Management LLC boosted its stake in shares of Philip Morris International by 1.7% in the second quarter. Cornerstone Wealth Management LLC now owns 12,042 shares of the company's stock worth $1,220,000 after acquiring an additional 200 shares during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Stock Performance

Shares of NYSE:PM traded down $1.94 on Wednesday, hitting $127.04. 2,312,938 shares of the company's stock were exchanged, compared to its average volume of 5,323,756. The firm's 50-day moving average is $127.03 and its 200 day moving average is $117.47. The company has a market capitalization of $197.53 billion, a PE ratio of 20.48, a P/E/G ratio of 2.29 and a beta of 0.53. 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 released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.09. The business had revenue of $9.91 billion during the quarter, compared to analysts' expectations of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The business's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.67 EPS. On average, analysts anticipate that Philip Morris International Inc. will post 6.51 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, September 26th. This is an increase from Philip Morris International's previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.25%. Philip Morris International's dividend payout ratio is currently 85.71%.

Insider Buying and Selling at Philip Morris International

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the chairman now directly owns 959,761 shares of the company's stock, valued at $124,624,965.85. This trade represents a 9.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 directly owns 95,418 shares of the company's stock, valued at $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. 0.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Citigroup boosted their price objective on Philip Morris International from $118.50 to $132.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. Stifel Nicolaus reissued a "buy" rating and set a $145.00 price objective (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on Philip Morris International from $118.00 to $135.00 and gave the stock a "buy" rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. boosted their price objective 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. Finally, Barclays lifted their target price on Philip Morris International from $145.00 to $155.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. One investment 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. According to data from MarketBeat, Philip Morris International currently has an average rating of "Moderate Buy" and an average price target of $131.50.

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.