Van ECK Associates Corp Has $187,000 Stock Position in Philip Morris International Inc. (NYSE:PM)

Van ECK Associates Corp trimmed its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 99.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,425 shares of the company's stock after selling 2,105,711 shares during the period. Van ECK Associates Corp's holdings in Philip Morris International were worth $187,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Iron Horse Wealth Management LLC boosted its holdings in shares of Philip Morris International by 684.4% during the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company's stock worth $25,000 after purchasing an additional 219 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of Philip Morris International in the second quarter worth $25,000. Sachetta LLC lifted its stake in shares of Philip Morris International by 64.8% in the second quarter. Sachetta LLC now owns 267 shares of the company's stock worth $27,000 after buying an additional 105 shares during the last quarter. Fortitude Family Office LLC lifted its stake in shares of Philip Morris International by 57.4% in the second 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 last quarter. Finally, Olistico Wealth LLC bought a new position in Philip Morris International during the second quarter worth $34,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Philip Morris International from $125.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. Stifel Nicolaus reaffirmed a "buy" rating and set a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Bank of America upped their price target on Philip Morris International from $125.00 to $139.00 and gave the company a "buy" rating in a research report on Wednesday, September 4th. Citigroup increased their price objective 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 increased 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. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $127.85.

Philip Morris International Price Performance

Philip Morris International stock traded up $2.96 during mid-day trading on Thursday, hitting $128.20. 6,815,617 shares of the company were exchanged, compared to its average volume of 5,398,920. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $134.15. The business's 50 day simple moving average is $124.19 and its two-hundred day simple moving average is $113.11. The company has a market capitalization of $199.33 billion, a P/E ratio of 20.35, a PEG ratio of 2.17 and a beta of 0.54.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings results 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. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The company had revenue of $9.91 billion for the quarter, compared to analysts' expectations of $9.68 billion. During the same period last year, the company earned $1.67 EPS. The firm's revenue for the quarter was up 8.4% compared to the same quarter last year. Equities research analysts predict 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. Investors 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. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 annualized dividend and a yield of 4.21%. Philip Morris International's dividend payout ratio (DPR) is presently 85.71%.

Insider Activity at Philip Morris International

In related news, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction 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 sale, the insider now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction 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 sale, the chairman now 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 position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

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.